NJR MONEY

  Before one should go to file Income Tax return, he/she should have necessary documents readily available with him to avoid last minute hassle. The check-list below will help you to see whether you have necessary documents with you while e-filing IT return. Some documents and details are mandatory to have with you like Aadhar number, bank details etc. while others are required only if it is applicable in your case like details of agriculture income is required only if you have such income.   Check-list for Income Tax Return:: 1) Aadhar Card Number: is Mandatory for e-filling income tax return on income tax website. 2) All Banks Accounts details like Bank name, Account no., Account type, IFSC code: All the bank account in which you have account need to be compulsory reported in IT return. Saving A/c, Current A/c, CC/OD A/c 3) Pre-validated Bank Account:   W.e.f. 01.03.19 , income tax department will issue only e-refund. So, assessee need to Pre-validated bank acc...

  Income Tax Slabs for Individual taxpayer for Financial Year 2019-20 (A.Y. 2020-21 ) Slab rates are ranges of incomes according to which government imposes tax Every year slab rates can be changed. If there are changes in slab rates for the F.Y. then they are introduced in the Budget for that year and presented in Parliament Here’s the Income Tax Slabs for the financial year 2019-20 (Assessment Year 2020-21 ). General Till 2,50,000 – 0% 2,50,001 ~ 5,00,000 – 10% 5,00,001 ~ 10,00,000 – 20% Above 10,00,000 – 30% Senior Citizen (Between 60 & 80 years) Till 3,00,000 – 0% 3,00,001 ~ 5,00,000 – 10% 5,00,001 ~ 10,00,000 – 20% Above 10,00,000 – 30% Very Senior Citizen (Above 80 years) Till 5,00,000 – 0% 5,00,001 ~ 10,00,000 – 20% Above 10,00,000 – 30% By applying above rates on Net Total Income, you got Tax payable amount. Note: There is no separate tax slab for women. Surcharge: A surcharge is also applicable slab wise.   Surcharge rates are as follows: If the in...