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    What Things To Keep In Mind When Filing ITR

    Leave a Comment / Income Tax /

    When you file your Income Tax Return (ITR), accuracy is key. This helps you avoid notices, penalties, and delays in getting your refunds. Here’s a checklist of key things to keep in mind: Before Filing Collect All Documents Form 16 (from employer) Form 26AS (tax summary from the IT dept) Annual Information Statement (AIS) Bank interest certificates (FD/SB) Investment proofs (80C, 80D, etc.) Capital gains details (if applicable). Choose Correct ITR Form ITR-1: Salaried individuals with simple income. ITR-2: Income from capital gains or >1 property ITR-3: Business/professional income ITR-4: Presumptive income scheme Verify Personal Info PAN, Aadhaar, address, mobile, bank account (for refunds) While Filing Report All Income Salary Interest (savings, FDs, etc.) Capital gains Freelancing, side gigs, rent, etc. (Don’t hide anything — it’s all tracked in AIS) Ensure accurate claim deductions. 80C (LIC, PPF, ELSS, etc.) 80D (health insurance) 80TTA/TTB (savings interest) Home loan interest (Section 24) Cross-Check TDS Match TDS in Form 16 with Form 26AS and AIS Pay Self-Assessment Tax (if needed) If tax is still due, pay via Challan 280 before submitting ITR Check Tax Regime (Old vs New) Select the one that gives the lowest tax for your case After Filing e-Verify the Return Use Aadhaar OTP, net banking, bank account, or Demat verification You must complete it within 30 days of filing. Save Acknowledgment & XML File Useful for future reference, loans, or audits Common Mistakes to Avoid Choosing wrong ITR form Double-claiming deductions Ignoring Form 26AS/AIS mismatches Missing out income from old employer (job switch) Not e-verifying return Ezymoneydeals Assistance Ezymoneydeals offers comprehensive assistance in filing your ITR, ensuring accuracy and compliance. Their services include: Document Verification: Ensuring all necessary documents are in order. Form Selection: Helping you pick the right ITR form for your income sources. Tax Calculation: Calculating your tax liability with precision and identifying eligible deductions. Filing and Verification: Filing your ITR and assisting with the e-verification process. We can simplify the ITR filing process. Our team ensures you meet all the requirements and deadlines. For personalized help or questions about your ITR filing, just ask! Team Ezymoneydeals

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    Tax planning when change employer during the year

    Leave a Comment / Income Tax /

    Changing jobs within the same financial year is common—but it can lead to tax issues if not handled properly. Mistakes can result in: Unpaid taxes Duplicate deductions Higher tax bills at year-end Here’s how to handle your tax planning effectively when you switch jobs. 1. Share Previous Income with Your New Employer Your new employer doesn’t automatically know your earlier income. Make sure to provide: Form 16 or salary slips from your previous employer Details of tax deductions already claimed This helps ensure: Correct TDS (Tax Deducted at Source) No double tax benefits (e.g., claiming 80C twice) 2. Combine Income from Both Employers in ITR When filing your Income Tax Return (ITR): Add income from both employers Use Form 16 from each employer Include bonuses, arrears, or advance salary 💡 Remember: Income tax is calculated on your total income, not separately per employer. 3. Avoid Double Deductions Be cautious to not claim the same benefit twice, such as: HRA (House Rent Allowance) Standard Deduction (₹50,000 allowed only once) Section 80C/80D deductions already claimed earlier 4. Pay Additional Tax if Needed Switching jobs might place you in a higher tax bracket, but each employer deducts tax based only on your income with them. This often leads to a tax shortfall. Use an online tax calculator to check your final tax liability If needed, pay self-assessment tax via Challan 280 before filing your return 5. Submit Form 12B (Optional but Helpful) When joining a new employer, submit Form 12B (includes details of your previous salary and TDS). This allows your new employer to: Calculate TDS accurately Avoid over- or under-deduction of tax 6. Re-Declare Investments to New Employer If you declared investments under Sections 80C, 80D, etc., to your old employer: Declare them again to the new employer (if not fully deducted) Keep all proofs for year-end review or while filing ITR 7. Claim TDS Refund if Overpaid If both employers deduct TDS without adjusting for deductions: You might end up paying extra tax File your ITR to claim a refund 8. Consider Professional Help EzyMoneyDeals offers complete tax planning services for just ₹2,999. Their offerings include: Investment Guidance: Choosing the right tax-saving options under 80C, 80D, etc. Personalized Tax Strategy: Reduce your total tax liability Document Help: Support for collecting and submitting necessary paperwork They also provide ITR filing services starting at ₹499, depending on income complexity. 9. File Your ITR Promptly Once the financial year ends: Consolidate income from both employers File your ITR to claim refunds Avoid penalties and late fees ✅ Example Let’s say: Employer A: Paid ₹6,00,000 | TDS: ₹10,000 Employer B: Paid ₹7,00,000 | TDS: ₹15,000 Total Income: ₹13,00,000 Total Tax Due: ~₹1,70,000 Since TDS = ₹25,000, you’ll need to pay the remaining ₹1,45,000 as self-assessment tax before filing your return.

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    How to File Your ITR Without a CA – Step-by-Step Guide (Free & Easy)

    Leave a Comment / Income Tax /

    Yes, you can absolutely file your Income Tax Return (ITR) yourself—no need to hire a Chartered Accountant (CA) if your finances are straightforward. Follow this simple, step-by-step guide to file your ITR online for free using the official Income Tax e-Filing Portal. 📝 Step 1: Gather Required Documents Before you begin, keep these handy: PAN card Aadhaar card Form 16 (from your employer, if salaried) Bank account details Interest certificates (from FDs, savings, etc.) Investment proofs (for deductions under 80C, 80D, etc.) Form 26AS (summary of TDS and taxes paid) 🔐 Step 2: Login to the e-Filing Portal Go to https://www.incometax.gov.in Click “Login” (or Register if you’re a new user) Use your PAN number as the user ID 🧾 Step 3: Start Filing Your Return Choose “File Income Tax Return” Select the relevant Assessment Year (e.g., AY 2025–26 for FY 2024–25) Choose: Online mode Individual Appropriate ITR form (usually ITR-1 for salaried individuals) 🔍 Step 4: Pre-fill and Verify Your Details The portal will auto-fill many fields using Form 26AS and AIS (Annual Information Statement).Cross-check all details with your Form 16, bank statements, and interest certificates. 💸 Step 5: Declare Deductions (if any) Under the “Tax Deductions” section, add: Section 80C: LIC, PPF, ELSS, EPF, tuition fees, etc. Section 80D: Health insurance premiums Section 80TTA/TTB: Interest on savings account Home loan interest (if applicable) 🧮 Step 6: Preview & Calculate Tax Review your total income, deductions, and tax payable/refund If you owe tax, pay it using Challan 280 Note down the BSR Code and Challan Number after payment 📲 Step 7: Submit & e-Verify Click “Submit” Complete e-Verification using one of the following: Aadhaar OTP Net banking Bank account/Demat validation 📌 Important: Your return is not processed unless e-verified. 🤔 Do You Really Need a CA? Not everyone needs to hire a CA. Here’s when you can skip it—and when you shouldn’t. ✅ You DON’T Need a CA If: You’re a salaried employee with one Form 16 You don’t own a business or multiple properties You don’t have foreign income or foreign assets You don’t have capital gains from shares, crypto, or property You’re not claiming complex deductions or carrying forward losses 👉 In such cases, use the Income Tax Portal or affordable services like EzyMoneyDeals. ✅ You SHOULD Consider a CA (at EzyMoneyDeals) If: You’re self-employed or own a business You have income from multiple sources (rent, trading, freelancing) You need to file for capital gains tax (from stocks, mutual funds, crypto, property) You want to carry forward losses You’re facing scrutiny, notices, or delayed refunds You want to optimize tax savings legally In these situations, a CA from EzyMoneyDeals ensures accurate filing, avoids penalties, and may even reduce your tax bill. 💰 Cost Comparison Filing Option Approx. Cost Best For Self-Filing (DIY) Free Salaried, simple income cases EzyMoneyDeals (Basic) ₹499+ Salaried, semi-complex tax situations CA via EzyMoneyDeals ₹1000–₹5000+ Businesses, capital gains, complex cases 🔚 Bottom Line ✅ Simple tax case? File it yourself—save money. ✅ Semi-complex case? Use a platform like EzyMoneyDeals. ✅ Complex tax situation? Hire a CA through EzyMoneyDeals for peace of mind.

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    How ITR Filing Helps You Get Loans

    Leave a Comment / Income Tax, Loans /

    How ITR Filing Helps You Get Loans – Powered by Ezymoneydeals Filing your Income Tax Return (ITR) regularly isn’t just about tax compliance—it can significantly improve your chances of getting approved for a home loan, car loan, personal loan, or business loan. At Ezymoneydeals, we help you leverage your ITR to unlock better loan opportunities. Here’s how: Benefits of ITR Filing for Loan Approval Benefit Explanation Proof of Income ITR clearly reflects your annual income, which lenders use to assess your repayment ability. Creditworthiness Regular ITR filing signals financial stability and discipline, especially useful for self-employed individuals and entrepreneurs. Alternative to Salary Slips Freelancers, consultants, or business owners can use ITR in place of salary slips or Form 16. Higher Loan Eligibility Applying for large loans (like home loans over ₹30 lakh)? Lenders usually require ITRs for 2–3 years to gauge income stability. Mandatory for Business Loans Most business and MSME loan providers demand 2–3 years of ITRs to analyze turnover and profitability. Shows Tax Compliance Filing returns builds trust with lenders—compliance = credibility. Documents Lenders Typically Require Last 2–3 years of ITRs (with computation and acknowledgment) Bank statements (usually 6 months) PAN, Aadhaar, and address proof Form 16 (for salaried individuals) Business proof (for self-employed) Bottom Line Even if your income is below the taxable limit, filing an ITR builds a financial footprint that helps when applying for loans or even visas. It’s your proof of income, financial stability, and responsibility. Need Help? At Ezymoneydeals, we assist with: Filing loan-ready ITRs Understanding how much loan you can get based on your ITR Linking you with lenders who value transparent tax history 👉 Get started with a free consultation today!  

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    How to Get a Bigger Tax Refund

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    Getting a higher tax refund is all about smart tax planning, accurate filing, and claiming all eligible deductions—and that’s exactly where Ezymoneydeals can help. Here’s how you can maximize your tax refund using Ezymoneydeals: How to Get a Bigger Tax Refund with Ezymoneydeals Claim All Possible Deductions Ezymoneydeals helps you identify and claim deductions under: Section Deduction Type Max Limit (₹) 80C LIC, PPF, ELSS, tuition fees, principal EMI ₹1,50,000 80D Health insurance premium ₹25,000–₹50,000 80E Education loan interest No upper limit 24(b) Home loan interest ₹2,00,000 80G Donations to charities 50%–100% Most people miss claiming full benefits under 80C or forget small deductions. We make sure you don’t. Check TDS and 26AS Mismatches Many refunds are lost due to errors in Form 26AS or AIS (Annual Info Statement). Ezymoneydeals helps you: Match your TDS credits Spot missing or duplicate entries Avoid refund delays caused by mismatches Report All Investments & Expenses Properly Freelancers, self-employed, and even salaried individuals often forget to: Claim business expenses Add eligible rent or HRA Declare savings interest up to ₹10,000 under 80TTA We ensure these are properly included so you pay only what’s necessary. File the Right ITR Form Choosing the wrong ITR form can lead to refund rejection. Ezymoneydeals ensures: You pick the correct ITR (ITR-1, 2, 3, or 4) It’s filled and verified accurately Refund is processed quickly ✅ 5. E-Verify and Track Refund We: Help you e-verify instantly (Aadhaar OTP/net banking) Monitor your refund status Follow up if delays happen  Why Use ezymoneydeals? ✅ Smart deduction checker ✅ Free refund calculation ✅ Expert support to maximize refund ✅ Fast e-filing + follow-up with IT department if needed Want a Bigger Refund? Visit ezymoneydeals.com or book a free refund optimization check today.  

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    How to File ITR For Yourself

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      How to File Your ITR Yourself with EzyMoneyDeals: A Step-by-Step Guide Filing your Income Tax Return (ITR) by yourself doesn’t have to be stressful. With EzyMoneyDeals, you get support at every step while staying in control of your financial journey. Here’s a simple guide to help you file your ITR on your own and get loan-ready fast. 🔹 Step 1: Gather the Required Documents Before you start, collect the following: PAN card and Aadhaar Bank account details (for refund or tax payment) Form 16 (if you’re salaried) Income details (freelance, business, rental, etc.) Form 26AS and AIS (TDS and income summary) Investment proofs (LIC, PPF, ELSS, etc.) Loan interest certificates (home or education loans) Having these ready will make the filing process faster and smoother. 🔹 Step 2: Log In to the Income Tax Portal Go to incometax.gov.in Log in using your PAN (as User ID) and password New user? Register using your PAN, Aadhaar, and contact details EzyMoneyDeals Tip: Keep your registered mobile handy for OTP verification. 🔹 Step 3: Choose the Right ITR Form Your income type decides which ITR form you need to use: Income Source ITR Form Salary + one house property ITR-1 (Sahaj) Business, profession, or freelance ITR-3 or ITR-4 Capital gains, multiple incomes ITR-2 or ITR-3 Confused? Don’t worry — EzyMoneyDeals helps you select the correct form based on your profile. 🔹 Step 4: Pre-Fill & Verify Your Details Choose the pre-filled return option (data fetched from PAN, AIS & Form 26AS) Cross-check income details, deductions, and TDS Update anything missing or incorrect Pro Tip: Accuracy is key. Any mismatch can delay your refund or trigger a notice. 🔹 Step 5: Calculate and Pay Tax (If Needed) The portal will auto-calculate your tax If you owe tax, pay it online via Challan 280 Save the receipt – you’ll need it before submitting 🔹 Step 6: Submit and e-Verify Your Return After review, click “Submit”. Then e-verify using any of these: Aadhaar OTP Net banking login Demat account 👉 Important: Your return isn’t complete until it’s e-verified. 💡 How EzyMoneyDeals Makes DIY Filing Easier Here’s how we support you through the process: ✅ Personalized filing help for salaried, freelance, and small business income ✅ Step-by-step assistance on each form field ✅ Help selecting the right ITR form ✅ Real-time expert chat support ✅ Tax-saving tips and loan-readiness insights ✅ Only ₹499 if you need full-service filing Ready to File ITR Yourself — With a Little Help? Take charge of your tax filing today. Whether you’re a salaried employee, freelancer, or a budding entrepreneur, EzyMoneyDeals is here to make the process smooth and smart. 👉 Visit: www.ezymoneydeals.com 📞 Or speak to our ITR expert for free guidance now!

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    Can I File My Income Tax Return Without Paying Tax ?

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      Can You File Your ITR Without Paying Tax? Yes, Here’s How Filing your Income Tax Return (ITR) does not always mean you have to pay tax. In many cases, individuals are eligible to file zero-tax returns. Here’s how it works and when it applies to you. ✅ When Can You File ITR Without Paying Tax? You can file your ITR without paying any tax if you meet any of the following conditions: 1. Your Income Is Below the Taxable Limit Depending on the tax regime, your income may be completely exempt: Tax Regime Exemption Limit (FY 2024–25) New Regime ₹3,00,000 Old Regime ₹2,50,000 Senior Citizens ₹3,00,000 If your total income is below these thresholds, you don’t owe any tax, but you can still file your ITR for record purposes or refund claims. 2. You Have No Tax Payable After Deductions Even if your income is above the basic limit, your tax liability may be zero after: TDS deduction by employer or bank Deductions under Sections 80C, 80D, 80G, etc. Rebate under Section 87A (up to ₹25,000 if income is under ₹7 lakh) In this case, you can file your ITR without paying additional tax. 3. You’re Filing to Report a Loss You can file a loss return to carry forward: Capital Losses (set off against future capital gains) Business Losses (carried forward for up to 8 years) There is no tax payable, but filing is mandatory to claim future tax benefits. ❌ When You Cannot File Without Paying Tax You cannot skip paying tax if: You have a tax liability after TDS or advance tax You don’t pay the balance amount due before filing In such cases, your return will be marked as defective, and you may face: Penalty under Section 234F Interest under Sections 234A, 234B, and 234C Notices from the Income Tax Department 📌 EzyMoneyDeals – ITR Filing Made Easy (₹499 Only) EzyMoneyDeals offers hassle-free ITR filing for just ₹499. Their expert team handles everything from document collection to return submission. What’s Included? Document Upload: Upload your Form 16, bank statements, and salary slips Return Preparation: Experts prepare your ITR-1 using official tax data Review & Approval: You check and approve the prepared return Filing & Acknowledgment: Your ITR is filed and acknowledgment sent to you They also help you calculate and pay any tax due, if applicable. 🔗 Visit: www.ezymoneydeals.com 📝 Mandatory Requirements to Keep in Mind PAN and Aadhaar Linkage: Filing ITR online requires a valid PAN linked with Aadhaar TDS Deduction: If your employer has deducted TDS on income above ₹2.5L, filing ITR is mandatory Refund Claim: If excess tax is deducted, you must file ITR to claim your refund 🔍 Final Word Yes, you can file ITR without paying tax, but only under certain conditions. Even if your income is below the taxable limit, filing ITR helps you: Claim refunds Carry forward losses Build financial proof Stay tax-compliant So why wait? File your return now and enjoy peace of mind. 👉 Need help? Let EzyMoneyDeals handle the process for just ₹499.  

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    Belated ITR Filing

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    Belated ITR Filing: Don’t Panic, You Still Have Time! Missed the 31st July ITR deadline? You can still file your taxes through a Belated Income Tax Return under Section 139(4) of the Income Tax Act. Who can file a Belated ITR? Any individual who: Failed to file their return by the original due date Has taxable income Wants to claim a refund Deadline for FY 2024–25 (AY 2025–26): December 31, 2025 Key Points: Penalty up to ₹5,000 (₹1,000 if income is below ₹5L) Refunds can still be claimed Losses (like capital loss) cannot be carried forward E-verification is mandatory File Your Belated ITR Easily with ezymoneydeals At ezymoneydeals, we help you: File returns quickly, even if you’re late Reduce errors & penalties Claim your refunds without hassle Provide a guided platform for quick belated filing Match your Form 26AS and AIS with your actual income Help maximize your deductions (even in a belated return) Provide professional support for doubts & verification   Common Reasons People File Belated Returns: Missed deadline due to travel or illness Forgot to include TDS or Form 16 Missed documents or lack of clarity   Benefits of Filing a Belated ITR Stay compliant with tax laws Avoid receiving tax notices Claim your TDS refunds Show proof of income (for loans, visas, etc.) Ready to File Late but Smart? Let ezymoneydeals help you file your belated return in minutes. 👉 Start Filing Now-www.ezymoneydeals.com  

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    BENEFITS OF FILING ITR

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      Why You Should File Your Income Tax Return (ITR): Benefits Beyond Compliance Filing your Income Tax Return (ITR) may feel like a chore, but it offers far more than just legal compliance. From avoiding penalties to building your financial credibility, here’s why ITR filing is absolutely worth it. ✅ 1. It’s a Legal Requirement Under the Income Tax Act, 1961, filing your ITR is mandatory if your total income exceeds the basic exemption limit. Failing to file could lead to penalties or even legal action. ✅ 2. Avoid Penalties and Interest Missed the ITR filing deadline? You could face: A late filing fee under Section 234F, ranging from ₹1,000 to ₹5,000 Interest charges under Sections 234A, 234B, and 234C on outstanding tax Filing your ITR on time helps you avoid unnecessary penalties and interest. ✅ 3. Claim Refunds for Extra Tax Paid Paid more tax than you owed? Filing your ITR is the only way to get your tax refund. This usually happens when: TDS is deducted by your employer or bank You paid advance tax, but your final liability is lower Without filing, your refund remains stuck. ✅ 4. Carry Forward Your Losses Want to reduce your future tax burden? File your ITR on time to carry forward losses: Business losses: Can be carried forward for up to 8 years Capital losses: Also carried forward for 8 years, but only set off against capital gains This strategy can save you a significant amount in future tax. ✅ 5. Acts as Proof of Income Your ITR works as proof of income in several important situations: Applying for loans (personal, home, business, car) Getting a visa for international travel Mortgage or credit card approvals It shows financial transparency and responsibility. ✅ 6. Makes Loans and Credit Easier to Access Most lenders ask for ITRs before approving loans. A clean filing history: Builds your financial reputation Makes you eligible for higher loan amounts and better interest rates Helps you negotiate better terms ✅ 7. Builds Your Financial Credibility Filing ITRs regularly boosts your creditworthiness. It shows you’re financially disciplined and compliant — something lenders, partners, and even potential investors look for. ✅ 8. Access to Government Benefits and Subsidies Need to apply for a government scheme or scholarship? Many require proof of income and tax compliance. An ITR helps you access: Subsidized loans Education scholarships Welfare schemes and grants ✅ 9. Prevents Legal Trouble Ignoring your ITR can invite: Tax notices Fines Even prosecution in serious cases Filing ensures you stay on the right side of the law. ✅ 10. Helps With Financial Planning Filing your ITR gives a clear picture of your income, expenses, deductions, and investments. You can: Spot tax-saving opportunities Plan your finances efficiently Track financial growth year-on-year ✅ 11. Prepares You for Future Tax Planning Once you understand your tax situation, you can: Invest smarter to save more Maximize your deductions under Sections like 80C, 80D, etc. Adjust your future tax strategy for better efficiency ✅ 12. Reduces the Risk of Scrutiny Non-filing flags your profile as non-compliant. This could lead to: Income tax notices Financial scrutiny or audits Trouble during financial transactions Regular filing keeps your profile clean and transparent. ✨ Conclusion: ITR Filing Is More Than Just a Duty Filing your Income Tax Return is not just about ticking a legal checkbox. It helps you: Claim refunds Avoid penalties Build a strong financial record Access loans, visas, and benefits Stay legally safe and financially healthy ✅ Ready to File? Let EzyMoneyDeals Make It Easy! No stress. No delays. Just simple, fast, and reliable ITR filing. Claim your tax benefits today – Let’s get started with EzyMoneyDeals!  

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