ITR Filing for Individuals having income more than Rs. 50 lacs
Features of Plan:
If you are an individual with income above Rs. 50 lakhs, you should file an ITR to avail of the benefits that it offers. TaxHelpdesk provides hassle-free ITR filing for individuals keeping in mind the needs of these individuals.
ITR Filing for Individuals: Services under this Plan
- ITR filing for individuals having income above Rs. 50 lacs (single or multiple Form 16)
- Dividend income declaration
- Disclosing of Directorship details (if applicable)
- Declaration of shareholding details in unlisted company (including foreign shares), if applicable
- Income from house property declaration (single or multiple house property)
- Declaration of assets for Indian Residents (if applicable)
- TaxHelpdesk’s income tax expert consultation
Who should take this plan?
Who should not take this plan?
– Employees who have income less than Rs. 50 lacs
– Or persons having less than Rs. 50 lacs interest income
– Individuals who have income from capital gains
–Â Individuals who have income from business
Documents needed
– PAN Card copy
– Aadhaar Card copy
– Bank account details
– Email and mobile number
– Form 16
– Form 26AS & AIS
– Housing loan interest certificate
– House Rent details
– Interest certificate
– Bank statement
– Receipts for deductions
– DEMAT account statement
– Foreign assets/income details
– Details of assets sold and purchased
– Details of income from any other sources
FAQs
Form 16 is a certificate issued by employers in India to their employees. It provides information about the salary earned by the employee during the financial year and the taxes deducted at source (TDS) by the employer on behalf of the employee. It serves as proof of income earned and taxes paid and is used for filing income tax returns (ITR).
Form 26AS is a consolidated statement that provides a summary of tax-related information and details of taxes paid by an individual or entity in India. It includes the details of TDS, TCS, advance tax, refunds as well as high value transactions.
Yes, it is essential to keep a copy of the filed ITR along with all supporting documents for future reference and to respond to any queries from tax authorities. It is recommended to maintain records for at least six years.
Common deductions include deductions for investments in specified financial instruments (such as Public Provident Fund or National Pension Scheme), deductions for health insurance premiums, deductions for education loan interest, and deductions for certain expenses such as house rent or medical expenses.
Yes, you can file your income tax return even if you do not have a Form 16. Form 16 is a document provided by employers, but if you have the necessary details about your income, TDS deductions, and other relevant information, you can use that information to file your tax return.
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