SnoozyPanda
SnoozyPanda

ITR

Hello.

I need some help. I have been working in IT since 2019.

So I have been receiving Form 16 for the following as -

2019-2020 - Gross Total Income 2.1L, Total Taxable Salary - 2L, Tax on Total income - 0

2020-2021 - Gross Total Income 2.9L, Total Taxable Salary - 2.6L, Tax on Total income - 929, Rebate under 87A - 929, Net Tax payable - 0

2021-2022 - Gross Total Income 3.5L, Total Taxable Salary - 3.2L, Tax on Total income - 3K, Rebate under 87A - 3K, Net Tax payable - 0

2022-2023 - Gross Total Income 4L, Total Taxable Salary - 3.7L, Tax on Total income - 6K, Rebate under 87A - 6K, Net Tax payable - 0

2023-2024 - Gross Total Income 5.8L, Total Taxable Salary - 4.9L, Tax on Total income - 12K, Rebate under 87A - 12K, Net Tax payable - 0

Since June 2024, Income Tax being deducted is shown in my Pay-slip after my promotion.

My problem here is, since the Net Tax payable was 0 in all the previous years, I never filed an ITR. Since Income Tax is being deducted now, I was showing more interest into it and on the ITR filings and came to know that I should have filed for the previous years as well. I think for 2019-2020 it is not needed as my Gross Total Income falls under the exception bracket for 2.5L

Now I am dead worried about missing all the previous years ITR filings. What should I do now?

2mo ago
Find out if you are being paid fairly.Download Grapevine
Discover more
Curated from across