How do I file a nil return?

Filing a nil return is no different from filing a regular income tax return.

1. Enter your income details and deductions. Income tax is computed and you will be shown that you have no tax due.
2. Submit your return to the Income Tax Department. And send your ITR-V to CPC Bangalore to complete the e-filing process.

What documents do you need to file your return?

Sources of Income

• Employed. Forms W-2.
• Unemployed. Unemployment (1099-G)
• Self-Employed. Forms 1099, Schedules K-1, income records to verify amounts not reported on 1099-MISC or new 1099-NEC.
• Rental Income. Records of income and expenses.
• Retirement Income.
• Savings & Investments or Dividends.
• Other Income & Losses.

Which ITR form is used for nil return?

Form ITR-4 can be filed by taxpayers who have opted for the presumptive taxation scheme. In case of proprietorship firm where ITR-3 or ITR-4 form had been filed previously, NIL return must be filed even if there is no business activity.

How do you make Kra nil returns?

Step By Step Guide On How to File KRA Nil Returns

1. Step 1: Visit KRA Portal.
2. Step 2: Log Into KRA iTax iPage Dashboard.
3. Step 3: Click On File Nil Return Tab.
4. Step 4: Select The Nil e-Return Form.
5. Step 5: Fill The Income Tax – Resident Individual Nil e-Return Form.
6. Step 6: Download KRA Nil Returns Receipt.

What is kra waiver?

A waiver application is a request made by a taxpayer for consideration. penalties and interest to be remitted where they fail to pay their taxes. or file returns by stipulated due dates to Commissioner Domestic Taxes. This provision covers only penalty and interest.

Who is responsible for filing a tax return?

The personal representative is responsible for filing any final individual income tax return(s) and the estate tax return of the decedent when due.

What receipts do I need for taxes?

Which Receipts Should I Keep for Taxes?

• Medical expenses. While you may have heard that medical expenses are deductible on your personal income tax return, you may be wondering exactly which expenses qualify.
• Childcare expenses.
• Unreimbursed work-related expenses.
• Self-employment expenses.
• Other expenses.

How can I file nil TDS return online?

Steps of Nil Return filing of TDS in a summary Step-1 Login to TRACES Deductor login with the User ID, Password and TAN of the deductor. Step-4 Then, give the reason for non-filing. Next, click on “Add Statement details”. Step-5 Acknowledge the declaration, NIL return will be successfully filed.