{"id":16297,"date":"2018-12-14T14:18:43","date_gmt":"2018-12-14T14:18:43","guid":{"rendered":"https:\/\/www.legalraasta.com\/blog\/?p=16297"},"modified":"2026-04-07T17:17:27","modified_gmt":"2026-04-07T11:47:27","slug":"income-tax-efiling","status":"publish","type":"post","link":"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/","title":{"rendered":"Income Tax e-Filing"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#What_is_Income_tax\" title=\"What is Income tax?\">What is Income tax?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Who_pays_the_Income_Tax\" title=\"Who pays the Income Tax?\">Who pays the Income Tax?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#How_is_Income_Tax_collected\" title=\"How is Income Tax collected?\">How is Income Tax collected?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Where_is_Income_tax_applicable\" title=\"Where is Income tax applicable?\">Where is Income tax applicable?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Income_Tax_Rates_Tax_Rates_Slabs_for_FY_2018-19\" title=\"Income Tax Rates \/ Tax Rates Slabs for FY 2018-19\">Income Tax Rates \/ Tax Rates Slabs for FY 2018-19<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Income_Tax_Rates_for_Individual_Tax_Payer_HUF_Up_to_60_years_Old\" title=\"Income Tax Rates for Individual Tax Payer \u00a0&amp; HUF \u00a0(Up to 60 years Old)\">Income Tax Rates for Individual Tax Payer \u00a0&amp; HUF \u00a0(Up to 60 years Old)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Income_Tax_Rates_for_Senior_Citizens_60-80_Years_Old\" title=\"Income Tax Rates for Senior Citizens (60-80 Years Old)\">Income Tax Rates for Senior Citizens (60-80 Years Old)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Income_Tax_Rates_for_Super_Senior_Citizens_80_years\" title=\"Income Tax Rates for Super Senior Citizens (80 years +)\">Income Tax Rates for Super Senior Citizens (80 years +)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Income_Tax_Rates_for_Cooperative_Socities\" title=\"Income Tax Rates for Cooperative Socities\">Income Tax Rates for Cooperative Socities<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Income_Tax_Rates_for_Domestic_Companies\" title=\"Income Tax Rates for Domestic Companies\">Income Tax Rates for Domestic Companies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Income_Tax_Rates_for_Foreign_Companies\" title=\"Income Tax Rates for Foreign Companies\">Income Tax Rates for Foreign Companies<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Exceptions_to_the_Tax_Slabs\" title=\"Exceptions to the Tax Slabs\">Exceptions to the Tax Slabs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#How_to_pay_Income_Tax\" title=\"How to pay Income Tax?\">How to pay Income Tax?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Online_Procedure_Income_Tax_e-filing\" title=\"Online Procedure (Income Tax e-filing)\">Online Procedure (Income Tax e-filing)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Offline\" title=\"Offline\">Offline<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Income_Tax_Deductions\" title=\"Income Tax Deductions\">Income Tax Deductions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Home_Ownership\" title=\"Home Ownership\">Home Ownership<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Home_Renting\" title=\"Home Renting\u00a0\">Home Renting\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Medical_CareInsurance\" title=\"Medical Care\/Insurance\">Medical Care\/Insurance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Long-Term_Savings_Provident_Funds\" title=\"Long-Term Savings\/ Provident Funds\">Long-Term Savings\/ Provident Funds<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.legalraasta.com\/blog\/income-tax-efiling\/#Other_Investment_Avenues\" title=\"Other Investment Avenues\">Other Investment Avenues<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"What_is_Income_tax\"><\/span><span style=\"color: #3366ff;\"><strong>What is Income tax?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">Income tax is one of the most fundamental taxes any individual\/business has to pay to the government on their income\/profits. Income tax generated through the taxation system is directly contributed towards\u00a0infrastructural development as well as towards payment of salaries of the central government employees. In this article, we will learn about income tax e-filing and all things related to the tax levied on individuals as well as businesses<\/p>\n<p>In India, the income tax is classified into two types:<\/p>\n<ul>\n<li>Direct Taxes &#8211; Taxes Levied on your salary\/profit(for businesses).<\/li>\n<li style=\"text-align: justify;\">Indirect Taxes- Taxes levied\u00a0on goods and services you purchase for eg. Online Shopping, Food in restaurant, Movie tickets etc<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">The income tax taxation system in India is governed\u00a0under the regulation specified in the Income Tax Act of 1961. This does not imply that the laws related to the income tax in India are archaic because there have been several amendments\u00a0to the laws since its implementation.<\/p>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Who_pays_the_Income_Tax\"><\/span><span style=\"color: #3366ff;\"><strong>Who pays the Income Tax?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\">In India, any individual under the age of 60 years, is eligible to pay the \u00a0Income Tax (income higher than 2.5 Lakhs per annum).\u00a0In addition to this, the following entities who generate income\/profits are also liable to pay the income tax:<\/p>\n<ul>\n<li>Salaried Individuals<\/li>\n<li>Businesses<\/li>\n<li>Hindu Undivided Family(HUF)<\/li>\n<li>Body of Individuals (BOA)<\/li>\n<li>Association of Persons (AOP)<\/li>\n<li>Local Authorities<\/li>\n<li>Corporate Firms<\/li>\n<li>Companies<\/li>\n<li>Artificial Judicial\u00a0Person<\/li>\n<\/ul>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"How_is_Income_Tax_collected\"><\/span><span style=\"color: #3366ff;\"><strong>How is Income Tax collected?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The income tax in India is collected by the Central Government in several ways. These are enlisted below:<\/p>\n<ul>\n<li><strong>TDS<\/strong>:\u00a0The concept of <a href=\"https:\/\/www.legalraasta.com\/tds-return\/\">TDS<\/a>\u00a0(Tax Deducted at Source)was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make payment of specified nature to any other person (deductee) shall deduct tax at source and remit the same into the account of the Central Government<\/li>\n<li><strong>\u00a0Self-Assesment Taxes<\/strong> paid before filing <a href=\"https:\/\/www.taxraahi.com\/income-tax-return-efiling\/\">Income Tax Returns<\/a> or <a href=\"https:\/\/www.legalraasta.com\/income-tax-return\/\">ITR<\/a><br \/>\nRead: <a href=\"https:\/\/www.legalraasta.com\/itr\/income-tax-assessment\/\">Types of Assessments under Income Tax<\/a><\/li>\n<li><strong><a href=\"https:\/\/www.legalraasta.com\/itr\/advance-tax\/\">Advance Tax Payments<\/a><\/strong><\/li>\n<\/ul>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Where_is_Income_tax_applicable\"><\/span><span style=\"color: #3366ff;\"><strong>Where is Income tax applicable?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The income\u00a0tax is applicable to profits as well as incomes of varying kinds. Here, we define which all heads\/ sources of incomes are taxable under the Income Tax system. Basically, there are 5 heads of income which are taxable and they are as follows:<\/p>\n<p>[fusion_table fusion_table_type=&#8221;1&#8243; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; animation_type=&#8221;flash&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.4&#8243; animation_offset=&#8221;&#8221;]<\/p>\n<div class=\"table-2\">\n<table width=\"\">\n<thead>\n<tr>\n<th align=\"left\"><span style=\"color: #8b4513;\">Taxable Income Head<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Nature of the Income\/Capital Gain Covered<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td align=\"left\">Income from Salary<\/td>\n<td align=\"left\">Income generated by individuals from salary as well as a pension is covered in this head of income<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Income from other sources<\/td>\n<td align=\"left\">Income generation from savings bank account interest, Fixed deposits, Winnings from competitions like &#8220;KBC&#8221;<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Income from House\/Property<\/td>\n<td align=\"left\">Income you get in the form of rent from your tenants<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Capital Gains Income<\/td>\n<td align=\"left\">Income generated from the sale of a capital asset such as mutual funds like ELSS, shares, house\/property<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Income from Profession and Business<\/td>\n<td align=\"left\">People who are self-employed, work as a freelancer or contractor, or you run a business. Life Insurance Agents, Chartered Accountants, Doctors, Lawyers etc having their own practice<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>[\/fusion_table]<\/p>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Income_Tax_Rates_Tax_Rates_Slabs_for_FY_2018-19\"><\/span><span style=\"color: #3366ff;\"><strong>Income Tax Rates \/ Tax Rates Slabs for FY 2018-19<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The income tax for people of different incomes\/profits is different and it is classified under various slabs for every taxpayer. Here we list down the various Income Tax Slabs for all taxpayers.<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Income_Tax_Rates_for_Individual_Tax_Payer_HUF_Up_to_60_years_Old\"><\/span><strong>Income Tax Rates for Individual Tax Payer \u00a0&amp; HUF \u00a0(Up to 60 years Old)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>[fusion_table fusion_table_type=&#8221;1&#8243; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221;]<\/p>\n<div class=\"table-2\">\n<table width=\"100%\">\n<thead>\n<tr>\n<th align=\"left\"><span style=\"color: #8b4513;\">Income Tax Slabs<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Tax Rate<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Health and Educational Cess<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td align=\"left\">Income up \u00a0to \u20b9 2,50,000<\/td>\n<td align=\"left\">No Tax<\/td>\n<td align=\"left\"><\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Income Range \u20b9 2,50,000-\u00a0\u20b95,00,000<\/td>\n<td align=\"left\">5%<\/td>\n<td align=\"left\">4% of Income Tax<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Income Range \u20b9 5,00,000-\u00a0\u20b910,00,000<\/td>\n<td align=\"left\">20%<\/td>\n<td align=\"left\">4% of Income Tax<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Income Above \u20b9 10,00,000<\/td>\n<td align=\"left\">30%<\/td>\n<td align=\"left\">\u00a04% of Income Tax<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>[\/fusion_table]<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Income_Tax_Rates_for_Senior_Citizens_60-80_Years_Old\"><\/span><strong>Income Tax Rates for Senior Citizens (60-80 Years Old)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>[fusion_table fusion_table_type=&#8221;1&#8243; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221;]<\/p>\n<div class=\"table-2\">\n<table width=\"100%\">\n<thead>\n<tr>\n<th align=\"left\"><span style=\"color: #8b4513;\">Income Tax Slabs<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Tax Rate<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Health and Educational Cess<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td align=\"left\">Income up \u00a0to \u20b93,00,000<\/td>\n<td align=\"left\">No Tax<\/td>\n<td align=\"left\"><\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Income Range \u20b9 3,00,000-\u00a0\u20b95,00,000<\/td>\n<td align=\"left\">5%<\/td>\n<td align=\"left\">\u00a04% of Income Tax<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Income Range \u20b9 5,00,000-\u00a0\u20b910,00,000<\/td>\n<td align=\"left\">20%<\/td>\n<td align=\"left\">\u00a04% of Income Tax<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Above\u00a0\u20b910,00,000<\/td>\n<td align=\"left\">30%<\/td>\n<td align=\"left\">\u00a04% of Income Tax<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>[\/fusion_table]<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Income_Tax_Rates_for_Super_Senior_Citizens_80_years\"><\/span><strong>Income Tax Rates for Super Senior Citizens (80 years +)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>[fusion_table fusion_table_type=&#8221;1&#8243; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221;]<\/p>\n<div class=\"table-2\">\n<table width=\"100%\">\n<thead>\n<tr>\n<th align=\"left\"><span style=\"color: #8b4513;\">Income Tax Slabs<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Tax Rate<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Health and Educational Cess<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td align=\"left\">Income up \u00a0to \u20b95,00,000<\/td>\n<td align=\"left\">No Tax<\/td>\n<td align=\"left\"><\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Income up to\u00a0\u20b95,00,000 &#8211; \u20b910,00,000<\/td>\n<td align=\"left\">20%<\/td>\n<td align=\"left\">4% of Income Tax<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Income\u00a0\u20b910,00,000<\/td>\n<td align=\"left\">30%<\/td>\n<td align=\"left\">4% of Income Tax<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>[\/fusion_table]<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Income_Tax_Rates_for_Cooperative_Socities\"><\/span><strong>Income Tax Rates for Cooperative Socities<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>[fusion_table fusion_table_type=&#8221;1&#8243; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221;]<\/p>\n<div class=\"table-2\">\n<table width=\"100%\">\n<thead>\n<tr>\n<th align=\"left\"><span style=\"color: #8b4513;\">Turnover Particulars<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Tax Rate<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td align=\"left\">Taxable income less than \u00a0\u20b9 10,000<\/td>\n<td align=\"left\">10%<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Taxable Income between\u00a0\u20b9 10,000-\u00a0\u20b920,000<\/td>\n<td align=\"left\">\u00a020% of the amount exceeding the \u00a0\u20b910,000<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Taxable income greater than \u00a0\u20b9 20,000<\/td>\n<td align=\"left\">\u00a030% of the amount exceeding the\u00a0\u20b920,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>[\/fusion_table]<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Income_Tax_Rates_for_Domestic_Companies\"><\/span><strong>Income Tax Rates for Domestic Companies<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>[fusion_table fusion_table_type=&#8221;1&#8243; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221;]<\/p>\n<div class=\"table-2\">\n<table width=\"100%\">\n<thead>\n<tr>\n<th align=\"left\"><span style=\"color: #8b4513;\">Turnover Particulars<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Tax Rate<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td align=\"left\">Gross turnover upto \u20b9 250 Crores<\/td>\n<td align=\"left\">25%<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Gross turnover greater\u00a0\u20b9 250 Crores<\/td>\n<td align=\"left\">\u00a029%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>[\/fusion_table]<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Income_Tax_Rates_for_Foreign_Companies\"><\/span><strong>Income Tax Rates for Foreign Companies<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>[fusion_table fusion_table_type=&#8221;1&#8243; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221;]<\/p>\n<div class=\"table-2\">\n<table style=\"height: 107px;\" width=\"783\">\n<thead>\n<tr>\n<th align=\"left\"><span style=\"color: #8b4513;\">Turnover Particulars<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Tax Rate<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td align=\"left\">If Foreign Companies are paid by the government in form of royalties<\/td>\n<td align=\"left\">50%<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Payment for Technical Services<\/td>\n<td align=\"left\">\u00a050%<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Any other Services<\/td>\n<td align=\"left\">\u00a040%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>[\/fusion_table]<\/p>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Exceptions_to_the_Tax_Slabs\"><\/span><span style=\"color: #3366ff;\"><strong>Exceptions to the Tax Slabs<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Not all income can be taxed on a slab basis . Capital Gains that you have are taxed on the basis of the type of asset that generates that income and how long you have been holding it. The holding time of the asset will determine wthere it is a Long Term Capital Gain (LTCG) or \u00a0ashort term one. Here is a quick look into the holding period nature of asset and rate of taxes for the same in a tabular format.<\/p>\n<p>[fusion_table fusion_table_type=&#8221;1&#8243; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221;]<\/p>\n<div class=\"table-2\">\n<table width=\"\">\n<thead>\n<tr>\n<th align=\"left\" width=\"15%\"><span style=\"color: #8b4513;\">Capital Asset Type<\/span><\/th>\n<th align=\"left\" width=\"45%\"><span style=\"color: #8b4513;\">Holding Period<\/span><\/th>\n<th align=\"left\" width=\"40%\"><span style=\"color: #8b4513;\">Tax Rate<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td align=\"left\">House Property<\/td>\n<td align=\"left\">Holding Less than 24 months -Short Term<br \/>\nHolding More than 24 months -Long Term<\/td>\n<td align=\"left\">20% dependent on Slab Rate<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Debt Mutual Funds<\/td>\n<td align=\"left\">Holding Less than 36 months -Short Term<br \/>\nHolding more than 36 months -Long Term<\/td>\n<td align=\"left\">20% dependent on Slab Rate<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Equity Mutual Funds<\/td>\n<td align=\"left\">Holding Less than 12 months -Short Term<br \/>\nHolding more than 12 months -Long Term<\/td>\n<td align=\"left\">Exempt (Till 31 March 2018 ) Capital Gains greater than 1 lakh rupees are taxable at 10% 15%<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Shares (STT Paid)<\/td>\n<td align=\"left\">Holding Less than 12 months -Short Term<br \/>\nHolding more than 12 months -Long Term<\/td>\n<td align=\"left\">Exempt (Till 31 March 2018 ) Capital Gains greater than 1 lakh rupees are taxable at 10% 15%<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Shares (STT Unpaid)<\/td>\n<td align=\"left\">Holding Less than 12 months -Short Term<br \/>\nHolding more than 12 months -Long Term<\/td>\n<td align=\"left\">20% As per slab rates<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">FMPs<\/td>\n<td align=\"left\">Holding Less than 36 months -Short Term<br \/>\nHolding more than 36 months -Long Term<\/td>\n<td align=\"left\">20% dependent on slab rates<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>[\/fusion_table]<\/p>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"How_to_pay_Income_Tax\"><\/span><span style=\"color: #3366ff;\"><strong>How to pay Income Tax?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In India, the Income Tax can be paid via two methods:<\/p>\n<ul>\n<li>Online Filing of Income tax also known as Income Tax e-filing<\/li>\n<li>Offline Income Tax Filing<\/li>\n<\/ul>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Online_Procedure_Income_Tax_e-filing\"><\/span><span style=\"color: #3366ff;\"><strong>Online Procedure (Income Tax e-filing)<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>To file the income tax online you will need to visit the Tax Information Network of the Income Tax Department.<br \/>\n<strong>Step 1<\/strong>: Fill up the Challan 280<\/p>\n<div id=\"attachment_16332\" style=\"width: 994px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/Challan_280.png\"><img fetchpriority=\"high\" decoding=\"async\" aria-describedby=\"caption-attachment-16332\" class=\"size-full wp-image-16332\" src=\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/Challan_280.png\" alt=\"Challan 280 for Income tax e-filing\" width=\"984\" height=\"133\" srcset=\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/Challan_280-200x27.png 200w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/Challan_280-300x41.png 300w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/Challan_280-400x54.png 400w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/Challan_280-600x81.png 600w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/Challan_280-768x104.png 768w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/Challan_280-800x108.png 800w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/Challan_280.png 984w\" sizes=\"(max-width: 984px) 100vw, 984px\" \/><\/a><p id=\"caption-attachment-16332\" class=\"wp-caption-text\">Challan 280<\/p><\/div>\n<p><strong>Step 2<\/strong>: Fill up the details with respect to the type of taxpayer you are<\/p>\n<p>For eg. if you are an individual this is how you fill up the details:<\/p>\n<ol>\n<li>Select (0021) Income Tax (Other than companies)<\/li>\n<li>Enter PAN details<\/li>\n<li>Select Relevant Assesment Year(AY) for eg. for the financial year 1st April 2018- 31st AMrch 2019, the assessment year is 2019-20<\/li>\n<li>Enter Address<\/li>\n<li>Select Appropriate Payment Type\n<ul>\n<li>Advance Tax- (100) Advance Tax<\/li>\n<li>Self Assessment Tax &#8211; (300)\u00a0Self Assessment Tax<\/li>\n<li>Regular Assesment Tax &#8211; (400) Tax on Regular Assesment<\/li>\n<\/ul>\n<\/li>\n<li>Select Payment Mode (Netbanking or Debit Card)<\/li>\n<li>Enter the given captcha correctly<\/li>\n<li>Click Proceed\n<div id=\"attachment_16333\" style=\"width: 1034px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/e-payment_of_challan.png\"><img decoding=\"async\" aria-describedby=\"caption-attachment-16333\" class=\"wp-image-16333 size-full\" src=\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/e-payment_of_challan.png\" alt=\"Incom tax e-filing procedure\" width=\"1024\" height=\"470\" srcset=\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/e-payment_of_challan-200x92.png 200w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/e-payment_of_challan-300x138.png 300w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/e-payment_of_challan-400x184.png 400w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/e-payment_of_challan-600x275.png 600w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/e-payment_of_challan-768x353.png 768w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/e-payment_of_challan-800x367.png 800w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/e-payment_of_challan.png 1024w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><p id=\"caption-attachment-16333\" class=\"wp-caption-text\">e-form for Income Tax e-filing<\/p><\/div>\n<p>&nbsp;<\/li>\n<\/ol>\n<p><strong>Step 3:\u00a0<\/strong>Check and Cross-check the information provided to you as you will re-directed to the website&#8217;s Payment Page<\/p>\n<div id=\"attachment_16334\" style=\"width: 597px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/incometaxefiling_payment-gateway.png\"><img decoding=\"async\" aria-describedby=\"caption-attachment-16334\" class=\"size-full wp-image-16334\" src=\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/incometaxefiling_payment-gateway.png\" alt=\"Income tax e-filing\" width=\"587\" height=\"471\" srcset=\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/incometaxefiling_payment-gateway-177x142.png 177w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/incometaxefiling_payment-gateway-200x160.png 200w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/incometaxefiling_payment-gateway-300x241.png 300w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/incometaxefiling_payment-gateway-400x321.png 400w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/incometaxefiling_payment-gateway.png 587w\" sizes=\"(max-width: 587px) 100vw, 587px\" \/><\/a><p id=\"caption-attachment-16334\" class=\"wp-caption-text\">Payment gateway: Income tax e-filing<\/p><\/div>\n<p><strong>Step 4<\/strong>: Once you have successfully made the payment for the\u00a0income tax, you will receive a tax receipt. Details of the payment along with a receipt will be given to you You will also be given a BSR Code(Basic Statistical Returns) along with the challan serial number. Keep this receipt safe with you by taking a screenshot. This receipt might be useful for future references.<\/p>\n<div id=\"attachment_16335\" style=\"width: 678px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/income-tax-efiling_reciept.png\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-16335\" class=\" wp-image-16335\" src=\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/income-tax-efiling_reciept.png\" alt=\"Income Tax e-filing\" width=\"668\" height=\"398\" srcset=\"https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/income-tax-efiling_reciept-200x119.png 200w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/income-tax-efiling_reciept-300x179.png 300w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/income-tax-efiling_reciept-400x238.png 400w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/income-tax-efiling_reciept-600x358.png 600w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/income-tax-efiling_reciept-768x458.png 768w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/income-tax-efiling_reciept-800x477.png 800w, https:\/\/www.legalraasta.com\/blog\/wp-content\/uploads\/2018\/12\/income-tax-efiling_reciept.png 894w\" sizes=\"(max-width: 668px) 100vw, 668px\" \/><\/a><p id=\"caption-attachment-16335\" class=\"wp-caption-text\">Income Tax e-filing receipt format<\/p><\/div>\n<p>In case, you forget to print a receipt of your tax payment, Login to your net banking account and retrieve it.<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Offline\"><\/span><span style=\"color: #3366ff;\"><strong>Offline<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In the case that for some reason or the other an individual\/business is unable to pay the income tax online they can avail the offline option for payment of income tax. Steps for paying income tax offline are as follows:<\/p>\n<ul>\n<li>Visit the nearest concerned bank and ask for tax payment challan form. The concerned form is challan 280<\/li>\n<li>Fill up the respective details of the form<\/li>\n<li>After filling up the required details submit the form and make the payment as a tax. Payment can be made either in cheque or cash. Be careful that for a large amount bank might refuse a cash payment and might ask only for a cheque. The cheque should be made in the name of &#8220;Income Tax Department &#8220;<\/li>\n<li>The official responsible for depositing the cash will provide you with a receipt against the payment of taxes. This receipt should be kept handy for future references.<\/li>\n<\/ul>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Income_Tax_Deductions\"><\/span><span style=\"color: #3366ff;\"><strong>Income Tax Deductions<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The income tax department has introduced incentives to reduced income taxation levied on the individuals and businesses. These are the forms of income tax deductions<\/p>\n<ul>\n<li>Deductions under section 80 of the Income Tax Act \u00a0claimed from the total income<\/li>\n<li>Deductions specific to each source of Income<\/li>\n<\/ul>\n<p>Here we discuss some of the major tax deductions :<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Home_Ownership\"><\/span><strong><span style=\"color: #3366ff;\">Home Ownership<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Registration as well as well as stamp duty under Section 80C<\/li>\n<li>Home Loan and Principal Interest<\/li>\n<li>First-time home-owners enjoy a benefit of\u00a0\u20b9 50,000 under Section 80EE of the income tax act<\/li>\n<\/ul>\n<p>[fusion_table fusion_table_type=&#8221;1&#8243; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221;]<\/p>\n<div class=\"table-2\">\n<table width=\"100%\">\n<thead>\n<tr>\n<th align=\"left\"><span style=\"color: #8b4513;\">Type of Deduction<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">\u00a0Maximum Deduction (Self-occupied House property)<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Maximum Deduction (Property on Rent)<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td align=\"left\">Stamp Duty and Registration + Principal<\/td>\n<td align=\"left\">\u00a0\u20b9 1,50,000 within the overall limit of Section 80C<\/td>\n<td align=\"left\">\u00a0\u20b9 1,50,000 within the overall limit of Section 80C<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Home Loan Interest deduction &#8211; Section 24<\/td>\n<td align=\"left\">\u20b92,00,000<\/td>\n<td align=\"left\">No Cap [Rental income should be displayed in the Income Tax return ] Maximum loss from house property has been capped at\u00a0\u20b9 2,00,000<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Deduction for first-time homeowners under Section 80 EE (Conditions Apply)<\/td>\n<td align=\"left\">\u20b9 50,000<\/td>\n<td align=\"left\">&#8211;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>[\/fusion_table]<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Home_Renting\"><\/span><span style=\"color: #3366ff;\"><strong>Home Renting\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Many Indians move cities for work and have to rent apartments, in accordance with the same most salaried individuals get paid a House Rent Allowance or HRA for short. You should make sure that you claim tax returns if you are living in an apartment on a rental basis.<\/li>\n<li>If you are living on rent basis but don&#8217;t have a provision of an HRA in your salary and in addition if you are not salaried but live on rent, you can make a claim for deduction in rent under the Section 80GG.<\/li>\n<\/ul>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Medical_CareInsurance\"><\/span><span style=\"color: #3366ff;\"><strong>Medical Care\/Insurance<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Medical Insurance has multiple benefits for both personal coverages of healthcare expenditures as well for your family. The premiums you pay for insurance medical care schemes, as well as life insurance, are liable for tax deductions. Here are the schemes eligible for tax deductions\u00a0[fusion_checklist icon=&#8221;fa-briefcase-medical fas&#8221; iconcolor=&#8221;&#8221; circle=&#8221;&#8221; circlecolor=&#8221;&#8221; size=&#8221;&#8221; divider=&#8221;&#8221; divider_color=&#8221;&#8221; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221;][fusion_li_item icon=&#8221;&#8221;] Life Insurance Premiums \u00a0under Section 80C\u00a0[\/fusion_li_item][fusion_li_item icon=&#8221;&#8221;] Medical Insurance under Section 80D [\/fusion_li_item] [fusion_li_item icon=&#8221;&#8221;] Preventive Checkups under Section 80D[fusion_li_item icon=&#8221;&#8221;]Medical Bills [Salaried Individuals] (Standard Deduction- \u00a0\u20b9 40,000 effective from April 1, 2018) [\/fusion_li_item][\/fusion_checklist]<\/p>\n<p>[fusion_table fusion_table_type=&#8221;1&#8243; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221;]<\/p>\n<div class=\"table-2\">\n<table width=\"100%\">\n<thead>\n<tr>\n<th align=\"left\"><span style=\"color: #8b4513;\">Insured Person<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Deduction for Individuals upto 60 years Old<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Max Deduction 60 years and above<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td align=\"left\">You, Spouse and , Children<\/td>\n<td align=\"left\">\u20b9 25,000<\/td>\n<td align=\"left\">\u20b9 50,000<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Parents<\/td>\n<td align=\"left\">\u20b9 25,000<\/td>\n<td align=\"left\">\u20b9 50,000<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Health Checkups<\/td>\n<td align=\"left\">\u20b9 5,000<\/td>\n<td align=\"left\">\u20b9 5,000<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">Max Deductions<\/td>\n<td align=\"left\">\u20b9 50,000<\/td>\n<td align=\"left\">\u00a0\u20b9 1,00,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>[\/fusion_table]<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Long-Term_Savings_Provident_Funds\"><\/span><span style=\"color: #3366ff;\"><strong>Long-Term Savings\/ Provident Funds<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p style=\"text-align: justify;\">Employee Provident Fund (EPF) is one of the most basic deductions that take place in an Individuals salary. \u00a0Your employer will generally cut 12% \u00a0of your salary package and deposit the same in a fund managed by EPFO. Individuals going for Public Provident Funds can open up a PPF account either from a post office or a public sector bank like State Bank of India (SBI) or ICICI bank. Under these, you are eligible for a few tax deductions under section 80 C of the Income Tax Act of 1961. the maximum deduction in the tax under these can go up to\u00a0\u20b9 1,50,000. \u00a0In addition to this, contribution to NPS is a tax saving avenue for claiming a deduction under section 80CCD<\/p>\n<h3 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Other_Investment_Avenues\"><\/span><span style=\"color: #3366ff;\"><strong>Other Investment Avenues<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>[fusion_table fusion_table_type=&#8221;1&#8243; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221;]<\/p>\n<div class=\"table-2\">\n<table width=\"100%\">\n<thead>\n<tr>\n<th align=\"left\"><span style=\"color: #8b4513;\">Investment<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Risk<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Interest<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Guranteed Returns<\/span><\/th>\n<th align=\"left\"><span style=\"color: #8b4513;\">Lock In-Period<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td align=\"left\">ELSS Funds<\/td>\n<td align=\"left\">Equity-Related Risk<\/td>\n<td align=\"left\">12-15% (Expected)<\/td>\n<td align=\"left\">No<\/td>\n<td align=\"left\">\u00a03 years<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">NSC<\/td>\n<td align=\"left\">Risk-Free<\/td>\n<td align=\"left\">7.6%<\/td>\n<td align=\"left\">Yes<\/td>\n<td align=\"left\">\u00a05 Years<\/td>\n<\/tr>\n<tr>\n<td align=\"left\">5-Year Fixed Deposits<\/td>\n<td align=\"left\">Risk-Free<\/td>\n<td align=\"left\">7-9%<\/td>\n<td align=\"left\">Yes<\/td>\n<td align=\"left\">\u00a05 Years<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>[\/fusion_table]<\/p>\n<p class=\"columnhead center\"><span style=\"color: #3366ff;\"><strong>Would you like assistance from an Expert?<\/strong><\/span><\/p>\n<p>[fusion_builder_container admin_label=&#8221;&#8221; hundred_percent=&#8221;no&#8221; equal_height_columns=&#8221;no&#8221; menu_anchor=&#8221;&#8221; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;newb&#8221; id=&#8221;&#8221; background_color=&#8221;#e5e8ef&#8221; background_image=&#8221;&#8221; background_position=&#8221;center center&#8221; background_repeat=&#8221;no-repeat&#8221; fade=&#8221;no&#8221; background_parallax=&#8221;none&#8221; enable_mobile=&#8221;no&#8221; parallax_speed=&#8221;0.3&#8243; video_mp4=&#8221;&#8221; video_webm=&#8221;&#8221; video_ogv=&#8221;&#8221; video_url=&#8221;&#8221; video_aspect_ratio=&#8221;16:9&#8243; video_loop=&#8221;yes&#8221; video_mute=&#8221;yes&#8221; video_preview_image=&#8221;&#8221; border_size=&#8221;&#8221; border_color=&#8221;&#8221; border_style=&#8221;solid&#8221; margin_top=&#8221;&#8221; margin_bottom=&#8221;&#8221; padding_top=&#8221;20px&#8221; padding_right=&#8221;20px&#8221; padding_bottom=&#8221;20px&#8221; padding_left=&#8221;20px&#8221; admin_toggled=&#8221;yes&#8221;][fusion_builder_row][fusion_builder_column type=&#8221;1_1&#8243; layout=&#8221;1_1&#8243; spacing=&#8221;&#8221; center_content=&#8221;no&#8221; hover_type=&#8221;none&#8221; link=&#8221;&#8221; min_height=&#8221;&#8221; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; background_color=&#8221;&#8221; background_image=&#8221;&#8221; background_position=&#8221;left top&#8221; background_repeat=&#8221;no-repeat&#8221; border_size=&#8221;0&#8243; border_color=&#8221;&#8221; border_style=&#8221;solid&#8221; border_position=&#8221;all&#8221; padding=&#8221;&#8221; dimension_margin=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221; last=&#8221;no&#8221;][fusion_text]<\/p>\n<p><strong>Buy a CA assisted plan &amp; Get Tax saving tips from professionals<\/strong><\/p>\n<p>[\/fusion_text][\/fusion_builder_column][fusion_builder_column type=&#8221;1_4&#8243; layout=&#8221;1_4&#8243; spacing=&#8221;&#8221; center_content=&#8221;no&#8221; hover_type=&#8221;none&#8221; link=&#8221;&#8221; min_height=&#8221;&#8221; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; background_color=&#8221;&#8221; background_image=&#8221;&#8221; background_position=&#8221;left top&#8221; background_repeat=&#8221;no-repeat&#8221; border_size=&#8221;0&#8243; border_color=&#8221;&#8221; border_style=&#8221;solid&#8221; border_position=&#8221;all&#8221; padding=&#8221;&#8221; dimension_margin=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221; last=&#8221;no&#8221;][fusion_text]<\/p>\n<div class=\"pricing\">\n<p><strong>Basic Package<\/strong><\/p>\n<div class=\"pricing-object pricing-object-lg\"><span class=\"small small-top\">\u20b9<\/span><span class=\"price\">399<\/span><\/div>\n<div class=\"divider-circle\"><\/div>\n<div class=\"cont\" style=\"padding-bottom: 5px;\">\n<p><b>You file<\/b> your own ITR<\/p>\n<p><b>Chat<\/b> with Expert<\/p>\n<p><b>Form 16<\/b>,HRA, Rental Income<\/p>\n<\/div>\n<p><a href=\"https:\/\/login.taxraahi.com\/payments\/cart.php?type=itr&amp;plan_name=itr_plan1\"><br \/>\n<button class=\"pricing-table-footer\">Sign up<\/button><br \/>\n<\/a><\/p>\n<\/div>\n<p>[\/fusion_text][\/fusion_builder_column][fusion_builder_column type=&#8221;1_4&#8243; layout=&#8221;1_4&#8243; spacing=&#8221;&#8221; center_content=&#8221;no&#8221; hover_type=&#8221;none&#8221; link=&#8221;&#8221; min_height=&#8221;&#8221; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; background_color=&#8221;&#8221; background_image=&#8221;&#8221; background_position=&#8221;left top&#8221; background_repeat=&#8221;no-repeat&#8221; border_size=&#8221;0&#8243; border_color=&#8221;&#8221; border_style=&#8221;solid&#8221; border_position=&#8221;all&#8221; padding=&#8221;&#8221; dimension_margin=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221; last=&#8221;no&#8221;][fusion_text]<\/p>\n<div class=\"pricing saves\">\n<p style=\"color: #4caf50!important;\"><strong>Savings Package<\/strong><\/p>\n<div class=\"pricing-object pricing-object-lg\"><span class=\"small small-top\">\u20b9<\/span><span class=\"price\">799<\/span><\/div>\n<div class=\"divider-circle\"><\/div>\n<div class=\"cont\" style=\"padding-bottom: 5px;\">\n<p><b>All<\/b> basic plan Features<\/p>\n<p><b>CA<\/b> review of ITR<\/p>\n<p><b>Tax saving<\/b> suggestions<\/p>\n<\/div>\n<p><a href=\"https:\/\/login.taxraahi.com\/payments\/cart.php?type=itr&amp;plan_name=itr_plan2\"><br \/>\n<button class=\"pricing-table-footer\">Sign up<\/button><br \/>\n<\/a><\/p>\n<\/div>\n<p>[\/fusion_text][\/fusion_builder_column][fusion_builder_column type=&#8221;1_4&#8243; layout=&#8221;1_4&#8243; spacing=&#8221;&#8221; center_content=&#8221;no&#8221; hover_type=&#8221;none&#8221; link=&#8221;&#8221; min_height=&#8221;&#8221; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; background_color=&#8221;&#8221; background_image=&#8221;&#8221; background_position=&#8221;left top&#8221; background_repeat=&#8221;no-repeat&#8221; border_size=&#8221;0&#8243; border_color=&#8221;&#8221; border_style=&#8221;solid&#8221; border_position=&#8221;all&#8221; padding=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221; last=&#8221;no&#8221;][fusion_text]<\/p>\n<div class=\"pricing\">\n<p><strong>Super Package<\/strong><\/p>\n<div class=\"pricing-object pricing-object-lg\"><span class=\"small small-top\">\u20b9<\/span><span class=\"price\">1499<\/span><\/div>\n<div class=\"divider-circle\"><\/div>\n<div class=\"cont\">\n<p><b>All<\/b> savings plan features<\/p>\n<p><b>60+ Minutes<\/b> discussion with CA<\/p>\n<p><b>Advanced advice<\/b>, on Capital<br \/>\nGains<\/p>\n<\/div>\n<p><a href=\"https:\/\/login.taxraahi.com\/payments\/cart.php?type=itr&amp;plan_name=itr_plan3\"><br \/>\n<button class=\"pricing-table-footer\">Sign up<\/button><br \/>\n<\/a><\/p>\n<\/div>\n<p>[\/fusion_text][\/fusion_builder_column][fusion_builder_column type=&#8221;1_4&#8243; layout=&#8221;1_4&#8243; spacing=&#8221;&#8221; center_content=&#8221;no&#8221; hover_type=&#8221;none&#8221; link=&#8221;&#8221; min_height=&#8221;&#8221; hide_on_mobile=&#8221;small-visibility,medium-visibility,large-visibility&#8221; class=&#8221;&#8221; id=&#8221;&#8221; background_color=&#8221;&#8221; background_image=&#8221;&#8221; background_position=&#8221;left top&#8221; background_repeat=&#8221;no-repeat&#8221; border_size=&#8221;0&#8243; border_color=&#8221;&#8221; border_style=&#8221;solid&#8221; border_position=&#8221;all&#8221; padding=&#8221;&#8221; dimension_margin=&#8221;&#8221; animation_type=&#8221;&#8221; animation_direction=&#8221;left&#8221; animation_speed=&#8221;0.3&#8243; animation_offset=&#8221;&#8221; last=&#8221;no&#8221;][fusion_text]<\/p>\n<div class=\"pricing\">\n<p><strong>Software Package<\/strong><\/p>\n<div class=\"pricing-object pricing-object-lg\"><span class=\"small small-top\">Starts at \u20b9<\/span><span class=\"price\">99<\/span><\/div>\n<div class=\"divider-circle\"><\/div>\n<div class=\"cont\">\n<p><b>File unlimited<\/b> return for 1 year<\/p>\n<p><b>ITR 1, 2, 3, 4, 4S and 5<\/b><\/p>\n<p><b>Form 16 upload<\/b> , store client data, direct filing<\/p>\n<\/div>\n<p><a href=\"https:\/\/taxraahi.com\/bulk-return-filing-corporates\"><br \/>\n<button class=\"pricing-table-footer\">Know More<\/button><br \/>\n<\/a><\/p>\n<\/div>\n<p>[\/fusion_text][\/fusion_builder_column][\/fusion_builder_row][\/fusion_builder_container]<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is Income tax? Income tax is one of the most fundamental taxes any individual\/business has to pay to the government on their income\/profits. Income tax generated through the taxation system is directly contributed towards\u00a0infrastructural development as well as towards payment of salaries of the central government employees. In this article, we will learn about income [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":16316,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[760],"tags":[763,767,469,759,766,761,765,762,755,764,756,758,757,471],"class_list":["post-16297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income-tax","tag-e-filing-of-income-tax","tag-efiling-income-tax-india","tag-income-tax","tag-income-tax-e-filing","tag-income-tax-efiling-india","tag-income-tax-filing","tag-income-tax-filing-india","tag-income-tax-filing-online","tag-income-tax-india","tag-income-tax-online-filing","tag-income-tax-returns","tag-it-returns","tag-it-returns-india","tag-itr"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ITR | Income Tax | All Information About Income Tax<\/title>\n<meta name=\"description\" content=\"Income tax is one of the most fundamental taxes any individual\/business has to pay to the government on their income. 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