Video instructions and help with filling out and completing Fill Form 2220 Applicable

Instructions and Help about Fill Form 2220 Applicable

It is indeed very easy and simple to file the tax return so I can I will explain you the first step in in the tax filing process is to determine are you actually liable to file the tax return anyone is required to file a tax return where the income is exceeding the taxable field of 2/3 shoulder pool at 50,000 rupees and in case you are a senior citizen I mean 60 years of more of age then the threshold is 3 lakh rupees and where you are a very very very serious religion eight years of or more then the checked taxable threshold is 5 lakh but there are two cases where even if your income is below the taxable threshold you may still be required to file a tax return for example if your income is below to like 50 thousand and say you had some XP or some some share which we have sold and which are exempt from tax under Section 1038 then for the purpose of calculating this taxable threshold that capital gains income would also be including to determine whether you have a filing obligation or node but ultimately you may not be paying any texts but you still will have a tax filing obligation so once you have you know come to the come to the conclusion that you have a filing obligation then you need to start compiling the details so you need to determine from what sources you have an income for example you have an income from salary do you have a rental income you have a income from other sources or income from is no profession and all these are relevant in order to determine which form you will use and in case your income is more than 50 lakh and even if you use ITR one having simpler sources of income but this year you will not be able to use ITL what you will have to use itea 2 and similarly one thing you should be careful Gomes has already made it mandatory to link the odds are with your path and if you are having the atop this building that with your pants and if you are not having the Adha you should immediately get the a has done for you and Amana Clea Bob is not allotted to you but with we are enrolled in government ID you will be able to complete your tax filing so then now you need to compile all the relevant details which you have in relation to income sources for example if you are having a salary income you need your form 16 if you have income from other sources like bank interest then you need to have a look at your bank statement if you are having fixed deposit and you need to make sure that you there was no withholding were done by the bank so for that you will need your form 16 a and most important you will need your form 26 years which you can download from the places so once you have all the details compiled with you then you are good to go for a tax filing so now let me take you to the income tax website where you will need to go to your account to file your tax return so to file the tax return you have to go to the income tax filing website and when you go to the website and if you are not using be using ITR 1 that is the option of all-night submitting the return you have the other option of downloading the form and you can also fill in the form and and then you can submit it to the D filing so it will go to the right-hand side of the of the website when you come to the main page there is a option ITR updated on 14 July for example in the sheet you can see that and one thing you need to make sure that you do not use the old form or the even the form which you would have downloaded you know few days back because sometimes that the changes take place in the in the form or in the utility etcetera and you always need to download the latest form from the website so once you click that that link of download this form now here you will see the different you know the two version one is the Excel utility and other other is the Java utility the if you want you can use the Java utility our utility again is something which is used to file simultaneously online with the through the filing while in the excels utility you can download these form and then you can fill in and then you need to generate the XML file and then you can upload the form and this option you can use the you will see that as you see on the screen there are various forms which are available whatever is applicable to you can download ITR 1 and idea to now in this session we will take you to the ITR 2 so now we will download the idea to excels utility and I will take you through the various sheet and how to fill that form you will see that key dinner also instructions which are on the right hand side of the screen and it is very important that when you are filling the form you go through the instruction because the instruction will help you and give the guidance to fill in the form all the relevant section which are which are required and you can see on the screen or for ita2 there are various instruction now the instruction also include that who is being able to use that form like ITA one can be used where you have a cell ring comes or income