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A simple tax return is one that's filed using IRS Form 1040 only, without having to attach any forms or schedules. Only certain taxpayers are eligible. Situations covered (assuming no added tax complexity): W-2 income. Limited interest and dividend income reported on a 1099-INT or 1099-DIV.
Income from salary is the sum of Basic salary + HRA + Special Allowance + Transport Allowance + any other allowance....How to calculate income tax? (See example) Up to Rs 2,50,000Exempt from tax0Total Income TaxRs 12,500 + Rs 25,500+ Rs 37,500 + Rs 50,000 + Rs 62,500 + Rs 1,77,600 + Rs 14,604Rs 3,79,7048 more rows
2. Online: Enter the relevant data directly online at e-filing portal and submit it. Taxpayer can file ITR 1 and ITR 4 online. PAN will be auto-populated. Select 'Assessment Year' Select 'ITR Form Number' Select 'Filing Type' as 'Original/Revised Return' Select 'Submission Mode' as 'Prepare and Submit Online'
There are three personal income tax forms \u2014 1040, 1040A and 1040EZ \u2014 with each designed to get the appropriate amount of your money to the IRS.
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