Wondering
how to file zero ITR online. Let me tell you.
Even if you don't have any income to report, you may still need to file a tax return in India for various reasons, such as claiming a refund of taxes withheld, maintaining a clean tax record, or complying with certain regulations.
How to Fill Zero ITR Online?
Here's how you can file a zero tax return online in India:
If you haven't already registered, you'll need to create an account on the Income Tax Department's e-Filing portal (
https://eportal.incometax.gov.in/iec/foservices/#/login
). Provide your PAN (Permanent Account Number), name, date of birth, and other required details to register.
Once registered, login to the e-Filing portal using your PAN as the user ID and the password you set during registration.
Choose the assessment year for which you want to file the return. The assessment year is the year immediately following the financial year for which the return is being filed.
Since your income is zero, you would typically file Form ITR-1 (Sahaj) or Form ITR-2 (if applicable).
Form ITR-1 is for individuals having income from salaries, one house property, other sources (excluding winning from lottery and income from race horses), and having total income up to Rs. 50 lakhs.
Form ITR-2 is for individuals and HUFs not having income from profits and gains of business or profession.
Provide your personal details such as name, address, PAN, Aadhaar number (if applicable), etc. Enter your bank account details for any refund that may be due to you.
Review the information provided to ensure accuracy. If everything is correct, submit the return electronically using the "Submit" button.
After successfully filing the return, generate the ITR-V (Acknowledgement) form. You can download it from the portal. Print, sign, and send the ITR-V to the Centralized Processing Center (CPC), Bengaluru, within 120 days from the date of e-filing.
You can also choose to e-verify your return using various options provided on the portal instead of sending the physical copy of ITR-V.
This is
how to file zero ITR online.
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My CA cousin told me to file income tax when I just started my career and my income was less than Rs. 2.5 lakhs per annum. I asked him why do I need to pay file zero income tax return? He told me that you have to file a nil or zero income tax return to show the Income Tax Department that you fall below the taxable income and therefore didn’t pay taxes during the year. Let me tell you how to file zero income tax return online:
Filing a nil or zero return is the same as filing a regular income tax return.
Just visit the Income Tax e-Filing website. From the menu bar, tap on ‘e-File’ and tap on ‘Income Tax Return’
After that, fill in your income details as well as deductions.
After that, Income tax is computed and you will see that you don’t have any tax due.
Submit your return to the IT Departmen and send your ITR-V to CPC Bengaluru for completing the e-filing process.
You can refer to this answer to know about the complete process to file ITR in detail:
How to File Income Tax Return Online?
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When Do You Have to File a Nil/Zero return:To show ITR as income proof
When your total income falls below the taxable limit but you’d like to maintain a record. Income tax acts as proof while making your passport or when you’re applying for a visa.
You were filing your ITR for several years and fell into the ‘below taxable limit’ this particular year. This helps to maintain a record and serves as a preventative measure in the events of scrutiny from the IT Department.
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Can You Go without Filing a Zero or Nil Return?It is mandatory for people whose total income is more than Rs. 2.5 lacs to file IT returns. I advise you to file your ITR, even though it’s not necessary if the total income is not over Rs. 2.5 lacs.
This is all on how to file zero income tax return.
Read more:
How to get income tax return copy online?
Who should file income tax return?
Who is not required to file income tax return?
How to fill ITR 2 form?
I hope I cleared all your doubts regarding how to file zero income tax return online.
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How to File Zero Income Tax Return Online?
Pavan
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2022-05-12T19:11:34+00:00 2024-03-29T18:05:02+00:00Comment
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