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Understanding Income Tax in Maharashtra

1. Types of Income

Before you file your income tax return, you need to understand the various types of income you may have. These can include: Visitofficialwebsite

  • Income from Salary: Income you receive as a salaried employee.
  • Income from Business or Profession: If you are self-employed or run a business.
  • Income from House Property: Rental income from properties you own.
  • Income from Capital Gains: Profits from selling assets such as stocks, real estate, or other investments.
  • Income from Other Sources: Includes interest income, dividends, and other miscellaneous income. 
2. Income Tax Slabs in Maharashtra

The income tax slabs in Maharashtra may vary from year to year. As of my last knowledge update in 2022, the slabs for individuals below 60 years of age were as follows:

Income Range (per annum)Tax Rate
Up to ₹2.5 lakhNil
₹2.5 lakh to ₹5 lakh5%
₹5 lakh to ₹10 lakh20%
Over ₹10 lakh30%

These rates can change, so please check the latest income tax slabs when filing your return.

3. Eligibility to File Income Tax Return

You are required to file an income tax return if your total income exceeds the basic exemption limit for your age category. For individuals below 60 years of age, the basic exemption limit was ₹2.5 lakh as of 2022. However, there may be other situations that necessitate filing a return, such as having foreign assets or income, even if your total income is below the exemption limit.

Collecting the Necessary Documents

Before you begin the filing process, gather all the relevant documents. These documents are essential for accurate reporting of your income and deductions. The necessary documents include:

1. Personal Details
  • Aadhar Card
  • PAN (Permanent Account Number) Card
  • Bank Account Details
2. Income Documents
  • Form 16 (for salaried individuals)
  • Income Certificates (if applicable)
  • Rent Receipts (for house property income)
  • Statements of income from other sources (interest, dividends, etc.)
3. Investment and Deduction Proofs
  • Investment Proofs (PPF, NSC, ELSS, etc.)
  • Receipts for Life Insurance Premium
  • Home Loan Interest Certificate
  • Tuition Fee Receipts (for deductions under section 80C)
4. Bank Statements
  • Savings and Current Account Statements for the Financial Year
5. Form 16/16A

Form 16 is a crucial document for salaried employees. It contains details about your salary, tax deducted at source (TDS), and other allowances. If you have other sources of income, you may also receive Form 16A from those entities.

Ensure that you have these documents in order to file your return accurately.


What is the procedure for income tax filing

  1. Who has to file ITR.
  2. Collect Documents/Information.
  3. Check ITR form.
  4. Login to file ITR.
  5. Fill the Form.
  6. Deductions.
  7. Pre-validate Bank Account.
  8. ITR Verification.

Selecting the Correct ITR Form

Choosing the right Income Tax Return (ITR) form is crucial to filing your return correctly. The government offers various ITR forms to cater to different income sources and situations.

1. Types of ITR Forms

Here are some common ITR forms:

  • ITR-1 (Sahaj): For individuals with income from salary, one house property, and other sources (excluding income from business or profession).
  • ITR-2: For individuals and Hindu Undivided Families (HUFs) not having income from business or profession.
  • ITR-3: For individuals and HUFs having income from business or profession.
  • ITR-4 (Sugam): For individuals, HUFs, and firms (other than LLP) having income from business or profession.
  • ITR-5: For LLPs, AOPs, BOIs, and co-operative societies.
  • ITR-6: For companies other than companies claiming exemption under section 11 (Income from property held for charitable or religious purposes).
2. Choosing the Right ITR Form

Select the ITR form that corresponds to your income sources and category. If you are a salaried individual in Maharashtra with no business income, ITR-1 (Sahaj) is usually the appropriate choice. However, always verify the latest ITR form requirements on the Income Tax Department’s official website or consult a tax professional.

Filing Your Income Tax Return in Maharashtra

You can file your income tax return in Maharashtra through various methods, including offline and online options.

1. Offline Filing
  1. Obtain the required ITR form from the Income Tax Department’s website or the nearest Income Tax Office.

  2. Fill out the form manually with the necessary details, or you can seek assistance from a tax consultant.

  3. Calculate your tax liability and ensure that all relevant documents and proofs are attached.

  4. Visit your nearest Income Tax Office and submit the filled ITR form along with necessary documents. They will provide you with an acknowledgment as proof of submission.

2. Online Filing

Online filing is a more convenient option for most taxpayers. Here’s how you can file your income tax return online:

  1. Register on the Income Tax Department’s e-filing portal: If you’re not already registered, you need to create an account on the official e-filing portal (

  2. Log in to your account: Use your PAN as the user ID and create a password.

  3. Choose the appropriate ITR form: Based on your income sources and category, select the relevant ITR form for the assessment year you are filing for.

  4. Fill out the ITR form online: Enter your income details, deductions, exemptions, and other required information.

  5. Verify the data: Review all the information you’ve entered to ensure accuracy.

  6. Calculate your tax liability: The portal will automatically calculate your tax liability based on the information provided.

  7. Submit the form: After verifying the data and calculating the tax liability, submit the ITR form electronically. You will receive an acknowledgment on successful submission.

  8. Verify your return: You need to verify your return within 120 days of filing. You can do this electronically using Aadhar OTP, net banking, or by sending a physical copy to the Centralized Processing Center (CPC) in Bangalore.

3. Filing through Tax Professionals

If you find the process overwhelming, you can choose to hire a tax consultant or professional to file your income tax return on your behalf. They will ensure that your return is accurate and filed correctly.

4. Using the Official Income Tax Website

The official Income Tax Department website is the most reliable source for filing your income tax return online. It provides a user-friendly platform for e-filing, and it’s regularly updated to accommodate changes in tax laws and regulations.

Verification and Submission

After filling out the ITR form, you need to verify and submit it. Verification is a crucial step to authenticate your return. There are two common methods for verification:

1. Verification Process
  • E-Verification: You can e-verify your return using methods such as Aadhar OTP, net banking, or electronic verification code (EVC). This is the quickest and most convenient way to verify your return.

  • Physical Verification: If you choose not to e-verify, you need to print and sign a copy of the ITR-V (Acknowledgment) form generated after submission and send it to the Centralized Processing Center (CPC) within 120 days.

2. Submitting the ITR Form

After verifying your return, you can submit it through the e-filing portal. The portal will provide you with an acknowledgment that confirms the submission of your return.

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how auriga accounting help you to file income tax correctly in maharashtra

Auriga Accounting can assist you in filing your income tax return correctly in Maharashtra by providing professional accounting and tax services. Here’s how Auriga Accounting can help you with the process:

  1. Expert Guidance: Auriga Accounting has experienced professionals who are well-versed in income tax laws and regulations in Maharashtra. They can provide expert guidance tailored to your specific financial situation.

  2. Income Tax Planning: They can help you plan your finances in a tax-efficient manner, ensuring that you maximize your deductions and exemptions while minimizing your tax liability.

  3. Documentation Assistance: Auriga Accounting can help you gather and organize all the necessary documents, such as salary slips, investment proofs, bank statements, and other relevant records.

  4. Form Selection: They will assist you in selecting the appropriate income tax return form based on your income sources and financial transactions, ensuring that you use the correct form to avoid any discrepancies.

  5. Filing Your Return: Auriga Accounting will complete and file your income tax return on your behalf, using their expertise to ensure that all calculations are accurate and in compliance with the latest tax laws.

  6. Tax Computation: They will compute your tax liability, taking into account various deductions, exemptions, and tax slabs, ensuring that you pay the correct amount of tax.

  7. Claiming Deductions: Auriga Accounting can help you identify and claim deductions and exemptions that you are eligible for, such as HRA, home loan interest, section 80C deductions, and more.

  8. Verification: They will verify the accuracy of your return to avoid errors or discrepancies that could lead to tax notices or penalties.

  9. e-Filing Assistance: Auriga Accounting can assist you in the e-filing of your income tax return, ensuring that it is submitted correctly through the official Income Tax Department website.

  10. Handling Notices: If you receive any income tax notices or have tax-related issues, Auriga Accounting can provide support and representation to resolve these matters.

  11. Regular Updates: They can keep you informed about changes in income tax laws, deadlines, and other relevant information to ensure that you remain compliant.

  12. Tax Optimization: Auriga Accounting can help you explore legal avenues for optimizing your tax liability through tax-saving investments and strategies.

  13. GST Compliance: If you are a business owner, Auriga Accounting can also help with Goods and Services Tax (GST) compliance, ensuring that your business meets all the necessary tax obligations.

  14. Representation: If required, they can represent you before tax authorities and assist in case of tax audits or assessments.

  15. Peace of Mind: By availing the services of Auriga Accounting, you can have peace of mind knowing that professionals are handling your tax matters, reducing the chances of errors or non-compliance.