How to file income tax return for financial year 2018-2019

The tax return submitting season has begun and with it many questions and doubts that taxpayers commonly have. There are a few imperative things that tax filers ought to keep in mind about the return filing process. With these tips,  you can start ITR filling proses

steps for falling ITR FOR YEAR 2018-2019 ITR TYPE AND FORM
2. Report all the earnings earned during the 12 months which include overseas income
3. Make certain you have Form 16 and Form 26AS
4. Keep all tax deduction proofs
5. Disclose right non-public details in ITR

1.first Select the proper form and ITR type


Most of the salaried employee covered here

1.AN INDIVIDUAL who is salaried employee or pension income
2.An individual whose income not more than 50  lack
3. Income from house property but not more than one house property
4..AN individual whose agriculture income is not more than 5000
5. income from house property [ but only one house property and loss from house property
6..An individual who have not any income from capital gain or PGBP income
7. An resident individual or ordinary resident individual
8.Income from other source[excluding wining income or lottery income and other casual income]


Most of professional individual covered here

1.An individual whose agriculture income is more than 5000
2.AN  Individual whose earned income from capital gain
3. An Individual earned income from outside India
4.Other source of income [ excluding wining income ]
5.An individual who earned income from any business venture
6. A HUF income covered here


1.AN individual partner in the firm
2.An individual who earned  income  from  partnership firm as partner
3..An individual carrying business or profession
4. .If you have Directorship in company
5 .An individual do investment in unlisted equity shares in financial year of company


THE ITR 4 is mainly for companies or business profession and HUF and partnership firm include here its also covered whose person opted presumptive  taxation scheme income under section 44AD and section 44ADA of income tax act this form ITR is applicable to any type of business or profession and undertaking but turnover must be exceed 2 crore

ITR -5

.ITR is made for the following entities and association
1. LLPs (Limited Liability Partnership),
2.Artificial Judicial Persons
3. BOIs (Body of Individuals),
4. Business trust and investment fund.
5. Co-operative Societies
6. Firms
7. Local Authorities
8. Estate of insolvent,


The ITR-6 form is mainly is to be used only by companies other than those companies or organizations that claim tax exemption as per Section 11. Those organizations that claim tax exemptions as per Section 11 THIS IS ONLY ITR form which cannot file offline mode

ITR-7 is filled by political parties, charitable trust  and other nonprofit organization

Return under section 139(4A) return of income of charitable trust and institution

1.From property held under wholly or partly for charitable or religious purpose or
2.By wake of voluntary  contribution on behalf such trust or institution
Must furnish return of   income if in total income in respect which he is assessable
As a repetitive assesse (commutated before allowing a by exemption u/s 11& 12) exceeds the basic exemption limit

Return under section 139(4B) return of income of political party

Political parties required to be filed return if the total income (before calming any exemption u/s 13A) exceeds the basic exemption limit grant of exemption under u/s 13A is subject to the condition of the political party filling  return of income within the limit prescribed under u/s139(1)

Return under section 139(4C) mandatory filling by the

Scientific research association;
News agency ;
Mutual fund referred in u/s 10(23D)
Association or institution referred to in section 10(23A);
Institution referred to in section 10(23B);
Fund or institution or university or other educational institution or any hospital or other medical institution. If the total income (before giving effect to u/s 10) exceed the basic exemption limit  

Return under section 139(4D) -is required to be filed by every university, college or other institution, which is not required to furnish return of income or loss under any other provision of this section.

Return under section 139(4E) -must be filed by every business trust which is not required to furnish return of income or loss under any other provisions of this section.

Return under section 139(4F) -must be filed by any investment fund referred to in section 115UB.

2. Report all the earnings earned during the 12 months which include overseas income

You must expose all the income earned at some point of the financial yr 2018-19, even if you have an exempt income. Interest income from financial institution financial savings account, family pension, capital gains, etc. make sure you have every income listed down for inclusion. Wherever TDS has been deducted, you might also be capable to locate important points from your Form 26AS.

Also, if you have any foreign earnings from overseas assets such as a financial institution account, a retirement account, shareholding, or any different asset owned, it will additionally have to be disclosed in the ITR forms.

3. Make certain you have Form 16 and Form 26AS

Form 16 has the details of TDS deducted by means of the agency from salary paid to you. If you are salaried, Form sixteen is the most vital document for submitting your tax returns. It has important points of PAN, TAN, address, earnings earned and tax deducted, which is required to be reported in your ITR. Starting this year, Form sixteen layout has been revised and made in sync with fields required in ITR. Some tax filing portals permit uploading of Form sixteen and then they mechanically populate your ITR, submitting then turns into a breeze.

If you have labored with greater than one corporation in the past, income from the previous organisation will additionally have to be said in the ITR forms. Make sure that you have a Form sixteen from your previous agency and consist of this profits while filing tax returns.

Form 26AS is the consolidated statement that displays TDS deducted on any type of profits you have earned, it consists of TDS on salary, TDS on hobby earnings from deposits, TDS deducted by purchaser in case you have sold a property etc. This is a very important record as the tax branch will only permit TDS to be adjusted against tax due, if it appears in your Form 26AS. Do review this form, it can be downloaded from the earnings tax branch website.

4. Keep all tax deduction proofs

how to file income tax return

Make certain you put collectively a desirable file to maintain all charge receipts and proofs of tax saving investments made, deductions claimed, rent paid and any other tax advantage claimed via you. If there is a discrepancy in your ITR, you may additionally be requested to grant proofs through the tax department.

5. Disclose right non-public details in ITR

Ensure that the private important details such as name, aadhaar number, phone number, date of birth, address, e mail id, etc. entered in the ITR form are correct

Further, if you are claiming a refund, make certain that the bank small print supplied are accurate so that you receive your refund smoothly. Also, you have to document all financial institution account important points held via you except dormant accounts (accounts which are inactive for the previous three years).

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Deepanshu sharma

HI friends I am Deepanshu Sharma is the person behind COMINGBLOG.COM I share with you some extra personal finance tips and helping you become financially independent,

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