How to do online ITR Filing?
- Identify all sources of income that will be declared while online ITR filing
- Purchase an adequate Pronomina Online ITR filing plan or give us the opportunity to assist
- Upload all relevant documents
- Our Income Tax expert will do all remaining work and file your income tax return through the government portal
Do I need to do online ITR filing to get Income Tax Refunds?
Yes. Income tax is deducted by various authorities on different kinds of payments. Following are the examples:
- Interest on Fixed Deposit
- Rent of Commercial property
- Contractual Payments
- Professional and Technical payments,
A refund can only be claimed by filing Income Tax Return online. Offline mode of filing ITR has been discontinued by the Income Tax department in case of refund. We at Pronomina will guide you and get you the maximum possible income tax refund.
How to get a maximum Income Tax refund when filing ITR online?
As discussed earlier, a refund can be availed only by filing Income Tax Return Online. However, there are certain deductions on income allowed, which can be claimed to minimize tax payable. Which will result in a maximum refund. Click here, to know more about its income tax refund.
If you don’t have Pan Card, we will apply for a pan card for you. If there is some mistake in your pan card, we will rectify the mistake. Click here to avail Pan Card services online.
How can I minimize tax liability while filing an income tax return?
There are certain deductions that can be reduced from gross total income to reduce income tax liability. The most prevalent deductions are mentioned under sections 80C, 80D, 8GG, and 80TTA. Approximately 98% can claim the above deductions, or are eligible to claim the deductions.
We are going the brief up the above deductions in short. You can check it out if you have been missing those deductions. It is mandatory to file an income tax return online if gross total income exceeds the taxable limit. This means, if your gross total income is 3.2 lacs and after deduction, it comes down to 2 lacs, then it is mandatory to file an income tax return online. We must also note that to claim any deductions or refunds under income tax, it is mandatory to file ITR online.
Our briefing of all deduction under section 80 C is as follows:
- Life insurance premium paid during the year
- Amount contributed to public provident fund
- Contribution to a recognized provident fund by an employee
- Any sum deposited to Sukanya Samridhi Account
- A portion of tuition fees paid to a recognized academic educational institution
- The principal amount repaid from loan
- The amount deposited in term deposit plan for more than 5 years with a scheduled bank
The deduction allowed shall be 100% of the amount invested in above or Rupees 1.5 lacs, whichever is lower.
Summarization of deduction under Section 80 D is as follows which can be claimed while filing ITR:
- Amount paid for health checkup of self and parents shall be up to ₹ 5000/-
- Deduction of the amount paid against medical insurance up to 25000 each for self and parents*
*If the person is above 60 years of age, then the amount of deduction shall be increased to ₹ 50000/-.
Our briefing of deduction under section 80 GG is as follows:
Section 80GG allows deduction linked in respect of rents paid. While filing ITR online, the least of the following can be claimed as a deduction for rents paid:
- ₹ 5000 per month
- 25% of total income before adjusting 80GG
- Excess of rent paid over 10% of total income
Under Section 80TTA, a deduction of up to ₹ 10000 can be claimed on interest from the saving bank.
In case if you wish to study the above mention deductions in detail, you can click here.