Other Sources Income Data Feeding Process

ExpressITR || Other Sources Income Data Feeding Process


Other Sources Income Data Feeding Process

To record income from other sources in Express ITR, follow the steps outlined below:

Step 1: Access the ITR Summary
  1. Open the client profile in Express ITR.
  2. In the ITR Summary section, select Return Flow to continue.
      

Step 2: Navigate to Other Sources Income
  1. Proceed to the Other Sources Income head.
      

Step 3: Enter Income Details Under "Gross Income Chargeable at Normal Rate"
  1. Enter the relevant Income types, including:
    1. Dividend Income under Section 56(2)(i)
    2. Saving Bank Interest
    3. Fixed Deposit (FDR) Interest
    4. Interest on Income Tax Refund
    5. Gift Income under Section 56(2)(x)
    6. Family Pension
    7. Rent from Plant & Machinery or Furniture
    8. Other Interest
    9. Interest on Compensation
      

Expenses Section
  1. Record any related expenses.
      
Depreciation
  1. Record any related Depreciation.
      
Additional Categories
  1. Gross Income Chargeable at Special Rate: Input any income subject to special tax rates.
  2. Amount Not Deductible under Section 58
  3. Profit Chargeable to Tax under Section 59
      

Following these steps will help ensure that you accurately record data for income from other sources in Express ITR.

    • Related Articles

    • Income Tax || How to Prepare ITR-1

      ITR-1 (Sahaj) is an income tax return form used by individual taxpayers in India. It is one of the simplest forms and is meant for people with straightforward income sources. Here's a detailed overview: Who Should File ITR-1? ITR-1 is suitable for ...

    • ExpressITR || House Property Income Data Feeding

      House Property Income Entry Process in Express ITR Here’s a step-by-step guide to entering House Property Income in Express ITR: Step 1: Access the ITR Summary Open the client profile in Express ITR. In the ITR Summary section, select Return Flow to ...

    • ExpressITR || Salary Income Data Feeding

      Salary Income Entry Process in Express ITR To enter Salary Income in Express ITR, follow these steps: Step 1: Access ITR Summary Open the client profile within Express ITR. In the ITR Summary section, select Return Flow to proceed. Step 2: Open ...

    • ExpressITR || Exempt Income Data Feeding

      Exempt Income Data Feeding in Express ITR To record Exempt Income in Express ITR, follow these steps: Step 1: Access the Return Flow Open the client profile in Express ITR. In the ITR Summary section, click on Return Flow to proceed. Step 2: Navigate ...

    • ExpressITR || Asset and Liabilities Information (Schedule AL) Data Feeding

      Asset and Liabilities Information (Schedule AL) in ExpressITR To accurately enter Schedule AL data, follow these steps: Step 1: Access the Client Return Flow Open the client profile and navigate to the Return Summary. Click on the Return Flow option ...