Fall is almost here! According to The Boston Globe, it appears that the demand for pumpkin spice increases as soon as the air begins to feel crisp. Customers eagerly anticipate the arrival of their favourite products, and according to Study Finds, fall is the season most people identify with their preferred seasonal cuisine. In addition to pumpkin spice, flavours inspired by apple pie and apple cider are also available. Some pecan praline products are also available as a homage to the Thanksgiving holiday's prized pie (via Study Finds). Of course, not all seasonal foods are sweets. Many fast food restaurants provide turkey, stuffing, and mashed potatoes sandwiches, along with some cranberry sauce for good measure (so does Wawa). https://mcdvoiceo.shop https://tellthebello.shop https://krogerfeedbacka.shop https://talktowendysu.shop https://pandaguestexperienceu.shop https://wwwlowescomsurvey.shop https://dgcustomerfirstu.shop https://itellculvers.shop https://jacklistenso.shop https://biglotscomsurveyo.shop https://talktostopandshopo.shop The market for seasonal love hasn't entirely been cornered by fall, either. When it comes to nostalgic pleasures, Christmas is no slouch. While everything is peppermint-flavored around the holidays, hot chocolate also makes a grand appearance in the winter. For a satisfying cold-weather beverage, hot chocolate is difficult to top. Although it is rarely the best, egg nog has a devoted following (per Wide Open Eats). Although fall and winter foods often have superior flavours, there is one seasonal fast food that people wish they could have all year round.

Available Income tax returns forms in India – [ NGK ]
Available Income tax returns forms in India
General

Available Income tax returns forms in India

intrepidkarthi

What if I explain this topic to a 5 year old.

So, you know when grown-ups get money from their work or from renting out a house? And they have to give some of that money to the government? Well, to do that, they have to fill out special papers called tax forms. There are different forms for different types of grown-ups, depending on how they make their money. For example, if someone just gets money from their work and one house they rent out, they use a special form called ITR-1. If a business is dissolved or stopped existing, they use a special form called ITR-10. It’s like different colored papers for different types of crayons, you know? And it’s important for grown-ups to use the right one so they don’t make mistakes and get in trouble with the government.

  1. ITR-1 (SAHAJ) is applicable for individuals whose income is from salary, one house property, and other sources (not being winnings from lottery or income from race horses). For example, Mr. Sharma uncle from Delhi, who is a salaried employee and has income from a rental property, would use ITR-1 to file his taxes.
  1. ITR-2 is for individuals and HUFs (Hindu Undivided Families) who have income from capital gains, more than one house property, or foreign assets/income. For example, Mr. Patel uncle from Mumbai, who has income from his investments in shares and a rental property, would use ITR-2 to file his taxes.
  1. ITR-3 is for individuals and HUFs who are partners in a partnership firm and have income from the firm. For example, Mr. Sonia aunty from Kolkata, who is a partner in a law firm, would use ITR-3 to file her taxes.
  1. ITR-4 (SUGAM) is for individuals, HUFs, and partnership firms (other than LLP) who have income from business or profession. For example, Ms. Manjunatha uncle from Bangalore, who runs a consultancy business, would use ITR-4 to file his taxes.
  2. ITR-4S: This form is for individuals or HUFs or partnership firms who have opted for the presumptive taxation scheme under section 44AD, 44ADA, and 44AE.
  3. ITR-5 is for firms, LLP, AOP (Association of Persons), BOI (Body of Individuals), artificial juridical person, cooperative society and local authority. For example, Mr. Singh uncle from Pune, who is a partner in a LLP, would use ITR-5 to file his taxes.
  4. ITR-6: This form is for companies, other than companies claiming exemption under section 11 (Income from property held for charitable or religious purposes)
  5. ITR-7: This form is for persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F)
  6. ITR-8: This form is for companies, firms and LLP’s required to furnish return under sections 92E.
  7. ITR-9: This form is for individuals, HUFs, firms and AOPs who are required to file their annual tax return.
  8. ITR-9A: This form is for individuals, HUFs, firms and AOPs who are not required to get their books of accounts audited under any law.
  9. ITR-10: This form is for firms, LLP, AOP (Association of Persons), BOI (Body of Individuals), artificial juridical person, cooperative society, and local authority that have been dissolved or have ceased to exist during the financial year.
  10. ITR-11: This form is for individuals and HUFs who are partners in a partnership firm and have income from the firm.
  11. ITR-V: This is the acknowledgement form for all types of ITRs. It needs to be printed, signed and sent to the CPC (Central Processing Centre) within 120 days of e-filing the return.

So, we learned about all the different tax forms that grown-ups use in India. It’s a lot to remember, but it’s important to know about them because it can help grown-ups save money and not get in trouble with the government. Just like how you learned how to color inside the lines and pick the right crayon for the picture you’re drawing. And remember, if you ever have any questions, you can always ask a grown-up or a tax professional for help.

People standing in a queue

Place for your comments....

This site uses Akismet to reduce spam. Learn how your comment data is processed.