Tag Archives: return

Income Tax e-filing in five easy steps, The Indian Express, e filing of income tax

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Income Tax e-filing in five easy steps

E filing of income tax return

It has almost become a ritual for people to delay filing their income tax returns till the last date and for the government to extend the same due to popular demand . However, the long queues that used to be another annual feature of the tax filing week has become a thing of the past due to the growing popularity of income tax e-filing.

The incometaxindiaefiling.gov.in has made it really easy for people to file their returns from the comfort of their homes. But remember to do so by August 5, the extended deadline for filing your income tax returns. Assessees in Jammu and Kashmir have till August 31 to file.

With the whole of this week left for people to finish this process, we tell you how to file your tax online.

Step 1: Select the right form: You have to select the form based on your source of incomes. So ITR-1 is for salaried individuals whose get a salary or a pension along with income from a house/property or from other sources, things like lottery. This is not for those with multiple houses/properties, income from winning a lottery, agricultural income of above Rs 5000, income from business. Tax payers filing for double tax relief should also not use this.

ITR-2A, introduced this year, is for those individuals who have income from more than one house property. ITR-2 can be used by individuals with no income from business/profession. ITR-3 is for individuals partnering in a firm, but not for those earning income from a proprietorship form. ITR-4 is for those individual earning income from a proprietorship firm. ITR-5 and 6 are for use by companies alone.

Step 2: Get your Form 16 ready: This form given by your employer shows your saving as well as the tax deducted. There will be multiple forms if you have changed jobs over the assessment year/

Step 3: Additional documents: You might need your bank statements, interest certificates, and your housing loan certificate (in case of housing loan).

Step 4: Download Form 26AS from the e-filing website to see which taxes are deducted at source

Step 5: Filing/uploading: Individuals with over Rs 5,00,000 income have to e-file their tax returns. You will get an automatic acknowledgement once the return is successfully uploaded. Verify this and submit the acknowledgement online, ideally with e-verification. This completes the process of filing your income-tax return.


Individual income tax, income tax return.#Income #tax #return

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Canada Tax Return Calculator 2017, income tax return.#Income #tax #return

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Canada Tax Return Calculator 2017 / 2018

Income tax returnWelcome to the Canadian Tax Return Calculator. Before you get started we suggest that, if you are new to the Canadian Tax Calculator, you read through the below information.

You can hide this introduction if you prefer, simply click on the red cross [ ] located at the top right of this page. You can view the Introduction at anytime after hiding by refreshing your browser. Tip: The F5 key on your keyboard is a shortcut key to refresh your browser.

It will only take you a minute or so to read through and understand exactly how to quickly make the most of this free tax application, associated tax tools and built in tax calculators (T-Slips, Tax Schedules, Federal / Province Worksheets etc.).

Making your tax returns quick, simple and free

The Canadian Tax Return Calculator a free online tax calculator application which has been designed to make your tax return:

  1. Free – We do not charge you anything for using our online Tax Calculator to complete your return. We are passionate about what we do but we need your feedback to help us deliver the right tax application that meets your needs. In return for delivering this free tax calculation tool, we only ask that if you spot a bug, typo or error you contact us so we can rectify the issue so you and others have an improved solution.
  2. As simple and accurate as possible – Our Tax Calculations follow a few simple rules:
    1. Use similar wording and layouts as found in traditional Federal and Province tax forms, tax worksheets and tax guides.
    2. Provide simplified outputs for ease of reading and understanding.
    3. Provide Graphical representations and Charts to visualise and simply tax analysis.
    4. Where appropriate, provide in line calculators (sub calculators if you like) to allow the calculation of specific line items without searching for the associated tax forms, tax worksheets and or guides.
  3. Quick – relevant information and calculations / calculators are grouped into user friendly views.
  4. Compliant – A full audit of your inputs by tax line number and associated calculated outputs by tax line number.

Getting started with your Tax Return using the Canadian Tax Calculator

The Canadian Tax Return Calculator is as simple or advanced as you want it to be. The tax return calculators and calculations are intelligently linked to provide default refundable and non-refundable tax credits. This means that tax metrics are correctly applied where you use a specific tax calculator or tax category. In very simple terms, this means that you can enter your total income and select your province for an instant tax calculation.

Alternatively, you can use the Advanced Tax Return Calculator functionality by entering your specific earnings and deductable elements for family, employment and physical well-being.

When using the advanced tax calculator, you will notice that you are presented with specific categories. These categories contain specailised sub tax calculators which are integrated into the overall tax calculator, all the magic happens behind the scenes but it’s worth knowing this so you can get the most out of each tax calculation. For example:

  1. Select ‘Income’ from the list of tax category buttons. Income tax return
  2. Income tax returnYou will now see the Total income field and, adjacent to the filed, a red calculator keyboard icon. You have two options:
    1. Type in or use the up/down buttons on the filed or the up/down buttons on your keyboard to manually enter your total income (Maybe you already calculated this manually using the Total income Section of form T1 General 5000-R).
    2. Alternatively, you can click on the red calculator keyboard icon. This will then display a sub tax calculator which will allow you to calculate your total income and update the relevant fields and details in all other associated tax form elements (as all our tax calculators are dynamically linked to make your tax return easier to complete)

Need help?

If you have any questions in relation to the Canadian Tax Return Calculator please contact us. Please do not contact us with specific tax enquiries, we do not provide a tax advisory service, we simply provide free online tax calculators. We have setup a Tax Forum where you can ask specific tax related questions, members of our community (which includes Canadian Accountants and Tax specialists) can then answer as they feel appropriate though note we make no guarantees or endorse any tax information or advice provided by third parties who use this service.


Estimate Your 2017 Tax Refund with the 2016 Return Calculator, income tax return.#Income #tax #return

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Estimate Your Tax Refund – 2018 Tax Calculator for 2017 Tax Return

First, estimate your 2017 Tax Return below.

Select your tax return filing status. Help me

Single taxpayers who can claim a dependent may be eligible for the Head of Household filing status, which will provide more tax benefits. Learn more

Your personal exemptions have been selected below. Add/change selections as needed.

Single taxpayers who can claim a dependent may be eligible for the Head of Household filing status, which will provide more tax benefits. Learn more

Taxes Withheld/Paid

Tax Credits Help Me

The Child Tax Credit is nonrefundable; if your credit exceeds your tax liability, your tax bill is reduced to zero and any remaining unused credit is lost. However, you may be able to claim a refundable Additional Child Tax Credit for the unused balance. You can find out if you’re eligible for this refundable credit by completing your return on efile.com.”>

Other Taxes

Personal

Home / Medical

Work / School

Business

Income tax return

It looks like you will receive a tax refund this year, based on the infomation entered. If you are ready, go ahead and efile your tax return now.

Email me my Tax Estimator results

and Promo Code Now

Based on the information you entered, it appears that you may owe additional tax to the IRS. You may have overlooked some ways that you can reduce your tax liability. Learn more about tax deductions and tax credits. If everything entered here is correct, you can get started your tax return.

Email me my Tax Estimator results

and Promo Code Now

Enter your email address and receive your Tax Estimator results, plus any promo codes and other specials we offer.

Income tax return

Got Tax Questions?

Income tax return

Here is a Quick Overview of What You Entered

If you need to make changes, please use the tabs on top or click “Edit” next to some of the categories.

Adjustments to Income Edit

Adjusted Gross Income(AGI)

Your Tax Bracket and Effective Tax Rate

This free efile.com tax calculator lets you select a tax income filing status and enter your W-2 and other income, tax deductions, tax credits, and other tax information. Based on this tax information you can calculate and estimate your tax refund or tax payments.

The efile.com tax calculator is based on IRS tax code, tax tables and tax rates and is subject to change without previous notification.

This tax software is a self-help tool for free independent usage. By using this tax calculator you agree that efile.com is not acting as your tax adviser. Furthermore you acknowledge, that efile.com does not guarantee the accuracy of this tax calculator nor its applicability in regards to your personal financial circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal financial issues.

This tax calculator service is provided “as is,” without warranty of any kind, either express or implied, including without limitation, any warranty for information, data or services.

Don t let your tax return take you by surprise! Estimate your taxes before you prepare your 2017 Tax Return. Find out if you will owe taxes or how much of a tax refund you will get in 2018. Estimating your taxes before you file your tax return is an essential part of tax planning, so start estimating now with the 2017 Tax Refund and Tax Return Calculator above.

How to Estimate Taxes with the 2018 Tax Calculator

To begin estimating your taxes with the tax calculator, select your filing status. Then click the blue “Next” button and choose your exemptions for yourself, your spouse, and your dependents. After you enter income information you can enter your tax deductions and tax credits. When you are finished in each section, go on to the next one.

You can track the estimate of your tax refund as you go; the amount of your tax refund (or amount due) is always displayed on the top right of the tax calculator.

The 2018 Tax Calculator will estimate your 2017 Tax Return and any tax refund you will receive in 2018. This calculator will be updated frequently as the IRS releases the latest figures for Tax Year 2017. Efile.com offers the use of this tax calculator free of charge. Please contact us if you have any comments or questions about the 2018 Tax Calculator.

Tax Calculators for Previous Tax Years

Tax Rates by Tax Year

1 The User Terms and Conditions for this efile.com Federal Tax Return Tax Calculator and Tax Estimator constitutes your agreement to the following Agreement. This tax calculator is only an estimator tax tool and should only be used to calculate and estimate your 2017 tax year or 2018 tax return tax refund or tax liability. This tax calculator is not intended as an online tax preparation tool for a federal income tax return. Please only use this tax calculator as an estimator for your personal tax refund or tax liability; any other use is strictly prohibited. Tax Information entered into the efile.com tax calculator is not stored or saved on a server or your computer s disk drive, nor is the tax data stored or transmitted anywhere else.

* Some of the deductions entered are applied to what would be your itemized deduction. The calculator will display the itemized deduction total if it is larger than the standard deduction.

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Where – s My Refund, Utah Income Taxes, incometax return.#Incometax #return

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Utah Income Taxes

How Long Does it Take to Get a Refund?

Please remember that the Tax Commission cannot issue refunds before March 1st if it cannot verify your W-2s with your employers.

Due to our efforts to protect your identity, please allow 120 days from the date you filed your return or March 1, whichever is later, to process your return and refund request.

All refund checks and direct deposits are issued by the State Division of Finance after being approved by the Tax Commission.

Checking Your Refund Status

Online with Taxpayer Access Point – TAP

  • your taxpayer ID number,
  • the amount of the refund, and
  • the federal adjusted gross income (FAGI) you listed on Line 4 of your return.

By Telephone

Call 801-297-2200 or 1-800-662-4335 between 8 a.m. and 5 p.m., Monday through Friday. You will need:

  • your taxpayer ID number,
  • the amount of the refund, and
  • your current address.

Third parties may not check the status of a refund by phone without being listed as a designated 3rd party or paid preparer on the return or having a current POA on file with the Tax Commission. See Third Party Designee.

How You Can Speed Up Your Refund

Certain situations may speed up the issuing of your refund.

  • Filing the return electronically
  • Filing a complete and error free return, including any required schedules
  • Receiving the refund by Direct Deposit

Things That May Slow Down Your Refund

Certain situations may slow down the issuing of your refund. Common problems and solutions are:

Identity Verification

Utah is committed to protecting your Identity. If we receive a tax return in your name that we cannot confirm is from you, we will send you a letter asking you to take a quiz to verify your identity or provide us certain documentation. Respond to the letter as soon as possible to minimize the delay to your refund. See Identity Verification for more information.

Direct Deposit Errors

If you entered incorrect or invalid direct deposit information, your refund may be delayed as we issue you a refund by mail instead. Direct deposit errors include:

  • Incorrect bank routing or account number
  • Closed bank account
  • Bank did not verify that the account was yours
  • Foreign bank accounts
  • Deposits to prepaid debit cards not approved by the Tax Commission
  • The Tax Commission could not sufficiently verify your employer withholdings

Unsigned Returns

If you did not sign your return, your refund will be delayed until you respond to a letter we will issue asking for a signature on the letter in lieu of one on the return.

Missing Information on Your Return

If you did not provide all the required information with your return, your refund will be delayed while we send you a letter requesting the missing information or gather the information from other sources.

Errors on Your Return

If you have errors on your return, your refund will be delayed until we correct the error. You will receive a written notice explaining the correction after we finish processing the return.

Amended Returns

Amended returns may require additional time to process.

Prior Year Returns

Filing a prior year return during the filing season for a current year may cause a delay in the processing of your prior year return.

Multiple Returns

If you filed tax returns from multiple years at the same time, refunds will not be issued until we have processed all of your returns.

Missing or Lost Refunds

If you check the status of your refund and it indicates you should have received the refund but you have not, it may be because:

Your refund was sent to a bad address

Refunds are not forwarded to new addresses. If you moved or provided an incorrect address on your tax return, your refund check will be returned to the Utah Division of Finance. To have your refund re-issued:

  1. Check your refund status online or call the Tax Commission to find your refund check number and issue date.
  2. After at least 10 days have passed since the issue date, call the Division of Finance at 801-538-3200 with refund check number and the correct address to send the refund to.

You owe state taxes for other years

If you owe Utah taxes for other years, we may take all or part of your refund to pay the debt. Pay any outstanding debts on your Utah taxes before filing to avoid a delay in receiving your current year refund. If you filed a joint income tax return and your share of the refund was taken for your spouse s separate debt, you may qualify for Injured Spouse relief with the Tax Commission.

You owe child support or other federal or state debts

If you owe other government debts, your refund may be held to pay those debts. Pay any outstanding debts before filing your return to avoid delays. If you filed a joint income tax return and your share of the refund was taken for your spouse s debt, you may qualify for Injured Spouse relief with the agency taking the debt. Do not file the Injured Spouse claim with the Tax Commission.

You requested your refund be applied to your next year s taxes

If you requested all or part of your refund be applied to your next year s taxes, you will not receive that refund this year. See Refund as Prepayment of Taxes for more information.

You requested your refund be applied to your UESP

You can choose to deposit all or part of your income tax refund into a UESP axxount. See Refund Into a UESP Account for more information.

Utah took your federal refund

If the Tax Commission has filed a tax lien to secure a debt you owe on a prior year, your federal refund may be sent to Utah to pay for that debt through the Treasury Offset Program. If you did not pay the Utah tax debt in time for us to notify the Treasury Department that the debt had been satisfied (typically 30 days), your federal refund will still be sent to Utah. It takes approximately 4-6 weeks from the date of your notification from the Treasury Department for Utah to receive the federal refund and apply any portion no longer needed to pay the Utah tax debt.

This website is provided for general guidance only. It does not contain all tax laws or rules.


Income Tax Return Filing by IndiaFilings, income tax return filling.#Income #tax #return #filling

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Income Tax Filing

Its is mandatory for individuals, NRIs, partnership firms, LLPs, Companies, Trust to file income tax returns each year. Individuals and NRIs are required to file income tax return, if their income exceeds the exemption limit. Partnership firms are required income tax return – irrespective of amount of income or loss. All companies are mandatorily required to file income tax return. Finally, it is mandatory for most types of trust to file income tax every year, while some types of trusts are required to file return of income if its gross total income exceeds the exemption limit.

Income tax return form can be e-filed or manually filed. Income tax returns do not have the ability to accept any attachment while efiling or manually filing. Hence, all relevant documents pertaining to the income tax filing like proof of investment, TDS certificates, pay slip, rent receipt, etc.) must be retained by the taxpayer and should be readily available if requested by tax authorities during assessment, inquiry, etc.

IndiaFilings is the largest business services platform in India, offering a variety of services like company registration, trademark registration, GST registration, income tax filing and more. IndiaFilings can help you file income tax returns. Get a free consultation for income tax filing through IndiaFilings by scheduling an appointment with an IndiaFilings Advisor.

Top Income Tax Return Types

ITR 1 (SAHAJ)

Income Tax Form ITR-1 (SAHAJ) is for individuals having income from salaries, one house property and other sources like interest, etc., This is the most used income tax return type.

ITR 4

Income Tax Form ITR 4 is for individuals and Hindu Undivided Families having income from a proprietary business or profession. This form is used by proprietorship firms.

ITR 5

Income Tax Form ITR 5 is used by most partnership firms as it is intended for persons other than individuals, Hindu Undivided Families, companies and person filing Form ITR-7.

ITR 6

Income Tax Form ITR 6 ​is used by companies like one person company, private limited company, public limited company and other for-profit companies.

ITR 7

Income Tax Form ITR 7 is used by persons, political parties, news agencies, universities and entities in receipt of income from property held under trust for charitable or religious purposes.


Income Tax Return – Bureau of Internal Revenue, income tax return filing.#Income #tax #return #filing

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Income tax return filing

Income tax return filing

Income Tax Return

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    Income tax return filing

    Annual Income Tax Return for Individuals Earning Purely Compensation Income (Including Non-Business/Non-Profession Income)

    This return shall be filed by every resident citizen deriving compensation income from all sources, or resident alien and non-resident citizen with respect to compensation income from within the Philippines, except the following:

    1. An individual whose gross compensation income does not exceed his total personal and additional exemptions.

    2. An individual with respect to pure compensation income, as defined in Section 32(A)(1) derived from sources within the Philippines, the income tax on which has been correctly withheld (tax due equals tax withheld) under the provisions of Section 79 of the Code: Provided, that an individual deriving compensation concurrently from two or more employers at any time during the taxable year shall file an income tax return.

    3. An individual whose income has been subjected to final withholding tax (alien employee as well as Filipino employee occupying the same position as that of the alien employee of regional or area headquarters and regional operating headquarters of multinational companies, petroleum service contractors and sub-contractors, and offshore banking units; non-resident alien not engaged in trade or business).

    4. A minimum wage earner or an individual who is exempt from income tax.

    This return is filed on or before April 15 of each year covering income for the preceding taxable year.

    Annual Income Tax Return for Self-Employed Individuals, Estates and Trusts

    BIR Form No. 1701 shall be filed by individuals who are engaged in trade/business or the practice of profession including those with mixed income (i.e., those engaged in the trade/business or profession who are also earning compensation income) in accordance with Sec. 51 of the Code, as amended. The annual income tax return summarizes all the transactions covering the calendar year of the taxpayer.

    This return shall be filed by the following individuals regardless of amount of gross income:

    1. A resident citizen engaged in trade, business, or practice of profession within and without the Philippines.

    2. A resident alien, non-resident citizen or non-resident alien individual engaged in trade, business or practice of profession within the Philippines.

    3. A trustee of a trust, guardian of a minor, executor/administrator of an estate, or any person acting in any fiduciary capacity for any person, where such trust, estate, minor, or person is engaged in trade or business.

    4. An individual engaged in trade or business or in the exercise of their profession and receiving compensation income as well.

    This return is filed on or before April 15 of each year covering income for the preceding taxable year.

    BIR Form No. 1701Q

    This return shall be filed in triplicate by the following individuals regardless of amount of gross income:

    1) A resident citizen engaged in trade, business, or practice of profession within and without the Philippines.

    2) A resident alien, non-resident citizen or non-resident alien individual engaged in trade, business or practice of profession within the Philippines.

    3) A trustee of a trust, guardian of a minor, executor/administrator of an estate, or any person acting in any fiduciary capacity for any person, where such trust, estate, minor, or person is engaged in trade or business.


File Your IRS Taxes Faster-For Free, free income tax return filing.#Free #income #tax #return #filing

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How to File Your Federal Taxes for Free

Many taxpayers qualify and yet never realize it.

Read more to see if you can file your federal taxes online and free of charge:

Free income tax return filing

Don’t know if you qualify for a 1040ez? Well, you might be surprised at who does. The qualifications are broad and if it fits your situation, you may be eligible to receive free federal tax preparation software.

The primary criteria for who can use a 1040ez to file their federal income taxes are as follows:

  1. Taxable income of under $100,000.
  2. A filing status of single or married filing jointly and not claiming dependent deductions.
  3. Taxpayer (or if filing a joint return, taxpayer and spouse) under the age of 65.
  4. Income earned through wages, salary, unemployment, fellowship grant, scholarship (taxable) and/or tips (tips need to be included in boxes 5 and 7 of your Form W-2).

Does this sound like you? Chances are it does, and that’s great. It means you can likely file your federal return completely free of charge. To take advantage of this, start by setting up a new account (here).

Once you’ve created your account, simply add your personal information, income, and the intuitive software will ask you questions to identify possible deductions. Then, if the 1040ez form fits your filing situation, your IRS tax return will be prepared and electronically transmitted completely free of charge.

There is, however, criteria that may require you to use an alternative form. For example if the following apply to you:

  1. Received alimony, dividends or taxable interest over $1,500.
  2. Filed for chapter 11 bankruptcy.
  3. Have adjustments to income, such as an IRA, paid alimony, bad debt deduction, moving expense, tuition fees and student loan interest.
  4. Owe employment taxes on a household employee.
  5. Seeking to claim a tax credit other than the earned income.

Not sure if you qualify to file with a 1040ez? Fear not, even if you don’t qualify you can likely still receive a reduced price to file a full 1040 or 1040A tax return. See the pricing chart for more.


Income Tax Return Filing by IndiaFilings, filing of income tax return.#Filing #of #income #tax #return

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Income Tax Filing

Its is mandatory for individuals, NRIs, partnership firms, LLPs, Companies, Trust to file income tax returns each year. Individuals and NRIs are required to file income tax return, if their income exceeds the exemption limit. Partnership firms are required income tax return – irrespective of amount of income or loss. All companies are mandatorily required to file income tax return. Finally, it is mandatory for most types of trust to file income tax every year, while some types of trusts are required to file return of income if its gross total income exceeds the exemption limit.

Income tax return form can be e-filed or manually filed. Income tax returns do not have the ability to accept any attachment while efiling or manually filing. Hence, all relevant documents pertaining to the income tax filing like proof of investment, TDS certificates, pay slip, rent receipt, etc.) must be retained by the taxpayer and should be readily available if requested by tax authorities during assessment, inquiry, etc.

IndiaFilings is the largest business services platform in India, offering a variety of services like company registration, trademark registration, GST registration, income tax filing and more. IndiaFilings can help you file income tax returns. Get a free consultation for income tax filing through IndiaFilings by scheduling an appointment with an IndiaFilings Advisor.

Top Income Tax Return Types

ITR 1 (SAHAJ)

Income Tax Form ITR-1 (SAHAJ) is for individuals having income from salaries, one house property and other sources like interest, etc., This is the most used income tax return type.

ITR 4

Income Tax Form ITR 4 is for individuals and Hindu Undivided Families having income from a proprietary business or profession. This form is used by proprietorship firms.

ITR 5

Income Tax Form ITR 5 is used by most partnership firms as it is intended for persons other than individuals, Hindu Undivided Families, companies and person filing Form ITR-7.

ITR 6

Income Tax Form ITR 6 ​is used by companies like one person company, private limited company, public limited company and other for-profit companies.

ITR 7

Income Tax Form ITR 7 is used by persons, political parties, news agencies, universities and entities in receipt of income from property held under trust for charitable or religious purposes.