The Income Tax slabs are different for taxpayers based on their annual income.
The last date for filing an income tax return (ITR) is just around the corner. For the financial year 2021-22 or assessment year 2022-23 the last date to file an ITR is July 31, 2022.
However, one should know that there are different ITR due dates or deadlines for different types of taxpayers.
Taxpayers with total gross income below the exempted limit of Rs 2.5 lakh are not required to file ITR. However, every individual must file the return of income if his/her total income exceeds the maximum exemption limit.
If an individual's income is higher than the exemption limit in a financial year, then the person is asked to file a tax return. The Income tax slabs differ for taxpayers based on their annual income.
The maximum exemption limits for individuals are:
- Rs. 2.5 lakh for an individual
- Rs 3 lakh for senior citizens (age 60 years or more but less than 80 years)
- Rs 5 lakh for resident super senior Citizen (age 80 years or more)
Individuals under senior and super senior citizen categories get certain benefits as per their age groups.
If your total gross income may exceed the basic exemption limit but due to various deductions, the taxable income may come down below 2.50 lakh, and then there’s no liability to pay any tax.
Income Tax Return (ITR): Step-by-step guide to file online
- Visit the official website, incometaxindiaefiling.gov.in
- Log in using your PAN.
- On the homepage, go to ‘Download’ and under the relevant year, select the ITR-1 (Sahaj) return preparation software. It will be downloaded in the form of Excel.
- Open fill in the relevant details from Form-16 on the excel sheet.
- Calculate all the relevant details and save the sheet.
- Click on 'submit Return’ and upload the saved excel sheet.
- Now, upload the digital signature. You can skip this step also.
- The successful e-filing submission message will be displayed on your screen.
- The ITR verification acknowledgment form will be sent to your registered email ID.
Tax is Leviable on:
- Income from Salary
- Income from House Property
- Income from Business & Profession
- Income from Capital Gain
- Income from Other Sources
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "File photo")
)
)
)
)
)
)
)
)
)
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}