Income Tax Return Form 2017-18

What is income tax return form 2017-18?

The income tax return form for the year 2017-18 is a document that individuals and businesses need to fill out in order to report their income earned and taxes paid for that specific financial year. It includes various sections and fields where taxpayers need to provide accurate information about their income sources, deductions, and tax liabilities. This form is important for the assessment of taxes and ensures that individuals and businesses fulfill their tax obligations.

What are the types of income tax return form 2017-18?

The income tax return form for the year 2017-18 is available in different types, depending on the nature of income and the status of the taxpayer. The common types of income tax return forms for the year 2017-18 include:

Form ITR-1 (SAHAJ): This form is for individuals with income from salary, house property, and other sources.
Form ITR-This form is for individuals and Hindu Undivided Families (HUFs) not having income from business or profession.
Form ITR-This form is for individuals and HUFs having income from a proprietary business or profession.
Form ITR-4 (SUGAM): This form is for individuals, HUFs, and firms (other than LLP) having income from a presumptive business.
Form ITR-This form is for entities such as partnerships, associations, and LLPs.
Form ITR-This form is for companies not claiming exemption under section 11 (income from property held for charitable or religious purposes).
Form ITR-This form is for entities required to furnish returns under section 139(4A), 139(4B), 139(4C), or 139(4D).

How to complete income tax return form 2017-18

Completing the income tax return form for the year 2017-18 may seem daunting, but with the right approach, it can be simplified. Here are the steps to follow:

01
Gather all the necessary documents and information, including details of your income sources, deductions, and tax payments.
02
Choose the appropriate income tax return form based on your income sources and status.
03
Carefully fill out all the sections and fields, ensuring accuracy and completeness.
04
Double-check all the information provided before submitting the form.
05
Submit the completed form electronically or physically as per the guidelines provided by the tax authorities.

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Video Tutorial How to Fill Out income tax return form 2017-18

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Questions & answers

After 60 days pass, you will incur an established minimum penalty that is the lesser of $205 or 100% of the unpaid tax you owe. So there is a simple solution: Get that tax return filed and make it a priority now. Learn more about how to file back tax returns and how to reduce penalties and interest if you qualify.
You can also request a transcript by mail by calling our automated phone transcript service at 800-908-9946. Visit our Get Transcript frequently asked questions (FAQs) for more information.
Transcript of Return from the IRS Visit the IRS website for instant online access to your transcript. Call 1-800-908-9946. Use Form 4506-T.
For 2017 tax returns, the three-year window closes May 17, 2021. The law requires taxpayers to properly address and mail the tax return to the IRS. It must be postmarked by the May deadline.
If you are due a refund for withholding or estimated taxes, you must file your return to claim it within 3 years of the return due date. The same rule applies to a right to claim tax credits such as the Earned Income Credit.
If a copy of their 2017 tax return is not available, taxpayers may be able to obtain a copy from their previous year's tax preparation software or previous tax preparer. Taxpayers may also obtain a tax transcript online from the IRS. Use Get Transcript Online to immediately view the AGI.