ITR Filling in Jaipur

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Peísonal IlR filling Any individual eaíning an
income above the minimum exempted amount is
liable to pay income tax. lhe income can be
eaíned fíom any souíce like salaíy, íental
income, inteíest income fíom savings, income
fíom mutual funds, agíicultuíe income, sale of
píopeíty oí business, oí píofessional
income. Income lax Retuín is a foím íequiíed to
be filed with Income lax Depaítment. lhe foímat
and applicability of these foíms aíe defined by
Income lax Depaítment. All foíms have sepaíate
disclosuíe íequiíements accoíding to the Incomes
Repoíted. Income tax íates aíe finalized in the
Union Budget befoíe the staít of the financial
yeaí. Fíom Assessment Yeaí 2021-2022, the
concept of new tax íegime and old tax íegime has
also been intíoduced. lhe goveínment has given
the option to choose between the new and old tax
íegimes to the taxpayeís. lhe basic concept
behind these íegimes is that if you do not have
investments etc to claim vaíious
deductions/exemptions undeí Sec.80 then you can
opt foí a new tax íegime and pay taxes at loweí
íates. Legal Window offeís best seívices foí
IlR filling in Jaipuí A peíson who chooses to
opt foí a new tax íegime cannot claim the
following deductions- Ceítain allowances like
LlA, HRA, allowances gíanted to meet expenses in
the peífoímance of duties of the
office. Deductions undeí salaíy like Standaíd
Deduction, Enteítainment allowance, and
Píofessional tax. Inteíest payable on boííowed
capital foí self-occupied píopeíty. Standaíd
Deduction in case of family pension. Seveíal
deductions aíe available undeí Sec.80 like life
insuíance, health insuíance píemium, pension
funds, píovident fund, donations, etc. lhe option
to avail of the option can be taken while filing
the Income lax Retuín. Ouí leam will help you
assess the beneficial option foí you so that you
can get maximum tax benefits.
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• This Return Form is to be used by an individual
  who is a resident other than not ordinarily
  resident,
• whose total income for the assessment year
  2021-22 does not exceed Rs. 50 lakh and who has
  income under the following heads-
• Income from Salary/ Pension or
• Income from One House Property or
• Income from Other Sources.
• Agricultural Income (Up to INR 5,000)
• A. Salary/Pension
• Salary refers to the remuneration/consideration
  that a person receives for the services that
  he/she renders under a contract of employment.
  For an amount to be considered salary, the
  existence of an employer-employee relationship
  is a must. As per the Income Tax Act, 1961, the
  following are included in salary income
• ?
• wages
• ?
• ?
• annuity or pension
• ?
• ?

B. One House Property If the taxpayer is the
owner of a property from which he/she is earning
rent, the rent proceeds become taxable. However,
if the taxpayer is using the property for running
some business or profession, the same would be
taxable under the heading Income from Business
or Profession.
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C. Other sources This includes Interest, dividend
income but does not include income earned from
winning lottery or racehorses D. Agricultural
Income The agricultural income should not exceed
INR 5,000) Income Tax Rates for Individuals (AY
2021-22)
Income Up to 60 years of age
Up to Rs 2.5 Lakhs Nil
Rs 2.5 Lakhs Rs 5 Lakhs 5
Rs 5 Lakhs Rs 10 Lakhs 20
Above Rs 10 Lakhs 30
Note A resident individual having taxable income
up to Rs 5,00,000 will get a tax rebate of
Rs.12,500 or the amount of tax payable
(whichever is lower)
Income Between 60-80 years of age
Up to Rs 3.0 Lakhs Nil
Rs 3.0 Lakhs Rs 5 Lakhs 5
Rs 5 Lakhs Rs 10 Lakhs 20
Above Rs 10 Lakhs 30
Note A resident individual having taxable income
up to Rs 5,00,000 will get a tax rebate of
Rs.12,500 or the amount of tax payable
(whichever is lower)
Income Above 80 years of age
Up to Rs 5 Lakhs Nil
Rs 5 Lakhs Rs 10 Lakhs 20
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Above Rs 10 Lakhs 30
New Tax regime from AY 2021-22 An option to pay
lower tax shall be available only if the Income
is calculated without claiming the following
exemptions and deductions
Exemption Deduction are not allowed Exemption Deduction allowed
Leave Travel Allowance (LTA) Transport Allowance in case of a specially-abled person
House Rent Allowance (HRA) Conveyance Allowance to meet the conveyance expenditure incurred as part of employment
Conveyance Allowance Any compensation received to meet the cost of travel on tour or transfer
Children Education Allowance Deduction under 80CCD(2)
Standard Deduction on Salary Deduction under section 80JJAA
Professional Tax
Interest on Housing Loan
Deduction under chapter VIA 80C Insurance premium etc 80D Medical Insurance 80E Education Loan
Special Rate under New Tax regime for Individuals
HUF (AY 2021-22)
Income Rate of Tax
Up to Rs 2.5 Lakhs Nil
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Rs 2.5 Lakhs Rs 5 Lakhs 5
Rs 5 Lakhs Rs 7.5 Lakhs 10
Rs 7.5 Lakhs Rs 10 Lakhs 15
Rs 10 Lakhs Rs 12.5 Lakhs 20
Rs 12.5 Lakhs Rs 15 Lakhs 25
Above Rs 15 Lakhs 30
Ouí 3 Step Simple Píocess
Engagement Consultation
Infoímation Collection Documentation
Ïiling Closuíe Why should you file Income lax
Retuín?
Makes you a compliant citizen
Avoid notices fíom the Il depaítment and Claim
Refunds
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Document píoof of cíeditwoíthiness
Avail tax benefits on past losses and Avoid
penalties and late fees
Easy availability of bank loans and Caííy foíwaíd
of losses

• Obtaining Goveínment tendeís/appíovals and Visa
  Píocessing
• Documents Requiíed foí Income lax Ïiling
• Ïoím-16
• Ïoím 16A/16B/16C
• Salaíy Slips
• Inteíest ceítificates fíom Post Offices Banks
• Ïoím 26AS
• lax-Savings Investment Píoofs
• Deductions undeí Section 80D to 80U
• Home Loan statement fíom NBÏC/Bank