Hi frnds,
for individual whose income is more than 110000(2008-09,fiscal period) for women 1450000 must file income tax form by 31 july(for audit 31oct) . for not filling return may penalty of 5000.
THANKS
Sure you do if you owe any amount after your income tax return is completely correctly.
A deduction on your income tax return would reduce your taxable income on your 1040 income tax return and reduce your federal income tax liability. An income tax deduction amount from your gross pay would be a prepayment of any future federal income liability you may have after your income tax return is completely at the end of the tax year and if enough is deducted from your gross pay you could end up receiving a refund of some of the withheld income tax amount.
If a minor has any income tax liability the minor would be required to file a income tax return. When you are a dependent on another individual income tax return and you have 950 or more of unearned income you are required to file a federal income tax return.
You can be over 100 years of age and could still meet the requirements of having to file an income tax return. Age does not have anything to do with the requirement to have to file an income tax return.
You will have to complete your income tax return correctly and pay any income taxes that may be due when the income tax return is completed.
Yes it is very possible that a child would have to file a 1040 federal income tax return and pay any income tax that would be due when the tax return is completed correctly.
Yes you will have to file the Pa state income tax return correctly to determine if you have to pay any PA state income tax.
Sure locality pay would be taxable income and would be added to all of your other gross worldwide income and reported on your 1040 federal income tax return and the TAXABLE amount would be subject to income taxes at your marginal tax rates when the income tax return is completed correctly.
Yes all interest income is reported on the income tax return. tds (Tax Deducted at Source). At present NO interest income is exempted from tax .On the federal 1040 income tax return you do have some types of interest that is exempt from income tax but the amount still has to be reported on the 1040 federal income tax return..
One federal 1040 income tax return combining the income from both state on it. Your nonresident or part year resident state tax return and your resident state income tax return filled out correctly and you may get a tax credit on your resident state income tax return if you had to to pay any income tax to the nonresident state if the returns are completed correctly.
Because the other taxpayer on the MFJ income tax return had more income tax withheld from the pay than what the federal income tax liability was when the income tax return was completed.
No, when filing for the federal income tax return, you do not attach the Schedule A for the state income tax return.