ITR Filing service by fsk

If your income is less than ₹ 2,50,000, you don’t have to pay any Income-tax. This applies to individual, HUF, AOP, and BOI. But if you are a resident individual who is 60 years or older but less than 80 years, you can earn up to ₹ 3,00,000 without paying any Income-tax. And if you are a resident individual who is 80 years or more, you can earn up to 5,00,000 without paying any Income-tax.

If you fail to file your income tax returns before the due dates, you can file a belated return. Belated return filings attract a penalty of upto Rs. 5000 under section 234F. But, for an income upto Rs. 5,00,000, the penalty levied is Rs. 1000. Also, if gross total income is Rs. 2,50,000 or less, no penalty shall be imposed. Certain losses like short-term capital loss, losses from business, long-term capital loss, etc., cannot be carried forward if Income Tax Returns are not filed before the due date as specified u/s 139(1).

You can pay tax to the government directly on the Income Tax Department website using your net-banking account or debit card using challan 280. The payment types for below taxes are as follows-

1. Advance Tax- (100) Advance Tax
2. Self assessment tax- (300) Self Assessment Tax
3. Regular assessment- (400) Tax on Regular Assessment Tax