My story of filing IT returns #TaxPledge

I am glad to have the opportunity to write down why is filing tax returns so important for every individual. We often feel that we don't fall in the tax bracket and hence we cannot be taxed but this is not true. Whether working or not working, every individual who owns a PAN card and earns an amount that falls in the tax bracket is charged TDS for the same.

　

I'll share my story with you and how I filed my IT return online. Last year, my income fell in the tax bracket due to which I was charged TDS which was more than the amount I had to pay and the same was deducted from my account. I realized it quite late and was confused about how to file IT return online. A collegue of me explained me the basics of filing an e-return in few minutes and it was so simple. I just needed to login to incometaxindiaefiling.gov.in and enter my PAN card details. My income details were all linked to my PAN card and I could already see the statement which mentioned all the necessary details I had to enter in my form. I then took a print out of my ITR-V form and posted it to the Income Tax Department. After few months, the amount was credited to my bank account and the process was very simple while earlier I had a misconception that I would need to enter each detail manually which was not the case here. I was taxed an amount more than the required sum and hence filing a return was beneficial. For those who don't have an internet connection, it is better to download the ITR form from the website itself and then fill in the details and get your ITR-V printed and posted to the IT department office. You'll get the return soon afterwards.

　

With H&R introducing the #TaxPledge activity, it has become easier and beneficial for us to file returns. H&R along with Freecharge has introduced a campaign where by every person who files an IT return via Freecharge gets a Rs. 200 cashback. Isn't this a great opportunity for all of us? I have also filed my return this year with Freecharge and H&R and I pledge to all those who haven't yet done it to do so soon.

I’m taking the #TaxPledge to file IT returns with the easy Income Tax efiling option from H&R Block at BlogAdda.

A story of Zizoo #TaxPledge

Let me tell you a story of Zizo...Yes...Zizoo...

 

Now you'll ask me, who is Zizoo? Well, Zizoo is an astronaut.

Zizoo earns over Rs. 50000 per month. Now, that's an income that falls into the tax bracket but Zizoo has just started to earn this income and was unaware that he needs to pay taxes.

　

On hearing about the last date to file an IT return, Zizoo asked his senior Tabo about how to file an IT return.

　

Tabo laughed an told him that he has not been filing an IT return for 3 years and nothing has happened to him. He told him that it's not necessary to file a return and declare your income.

　

Now, Zizoo was confused on hearing this and felt that if nothing has happened to tabo, nothing will happen to him. He anyways was a new joinee and it was all new to him. Nobody had ever explained to him about taxes and what's the taxable income.

　

After a month, Zizoo got the news that Tabo's house was raided by the IT department. Zizoo was shattered to hear the news and when he visited him, he saw how the officer arrested Tabo for tax evasion. Tabo was sorry for being a dishonest citizen and avoiding to pay taxes that he was liable of.

Zizoo then searched on his mobile about filing IT returns and he did so by logging into incometaxindiaefiling.gov.in and submitting the ITR-V form to the mentioned address. On receiving the email from the tax department that he has succesfully submitted his form and now is a law abiding citizen by fulfilling his duty towards the Government, he can live his life as happy as he was living the way before.

　

　

In this story, we learn how Zizoo was misguided by his senior and was unaware of the consequences that can arise as a result of not paying taxes and avoiding our responsibilities. He was a new joinee and this story is a lesson for all those who are new in filing tax returns. We may meet many people who avoid paying taxes but the result always is negative and hence we should pay our taxes and avail the benefits by doing so. Taxes are our responsibility and like Zizoo took the right decision, we should do the same and pay our taxes in a timely manner. Check the website incometaxindiaefiling.gov.in for more details.


I’m taking the #TaxPledge to file IT returns with the easy Income Tax efiling option from H&R Block at BlogAdda.