How to File KRA Returns for Students

How to File KRA Returns for Students
Hey there! Are you a student in Kenya grappling with the task of filing your Kenya Revenue Authority (KRA) tax returns? Worry not, because today, we're going to break down this process into simple, easy-to-follow steps. So, buckle up and let's get started!


Getting a Grip on the Basics




Before we dive in, let's get a grasp of what KRA returns are all about. The KRA is Kenya's tax body, and it requires all registered taxpayers to submit their returns annually. This might sound intimidating, but it's simply a way of declaring your income, expenses, and the taxes you've paid to the government in the financial year.

Read Also: How to File Nil Returns for Students


Who Needs to File These Returns?


Here's the kicker: every Kenyan with a KRA Personal Identification Number (PIN) needs to file returns, regardless of whether they've earned an income during the year or not. So, as a student, if you have a KRA PIN for any reason (like applying for a HELB loan), you need to file your returns too.


Preparing to File Your Returns




Now that we've covered who needs to file KRA returns, let's look at how to go about it. You'll need a couple of things:

- Your KRA PIN: This is your unique identifier in the KRA database. If you don't have one, you can apply for it on the iTax website.


- iTax password: This is the password you created when registering for your PIN. If you've forgotten it, don't panic! You can always reset it on the iTax portal.


- Internet connection: You'll need this to access the iTax portal and complete the process.

Navigating the iTax KRA Portal


Now that we've got our requirements sorted, it's time to navigate the iTax portal:

- Visit the iTax portal: Head over to the iTax website and enter your KRA PIN, then your password.


- Access your account: Once you've successfully logged in, you should see your iTax dashboard.


- Go to returns: Click on the 'Returns' menu, then 'File Return'.

Filing Nil Returns




As a student, chances are you didn't have any taxable income in the past year. In this case, you'll be filing nil returns. Here's how:


Filing Nil Returns Step-by-Step

- After clicking 'File Return', select the 'Nil Return' option.


- Choose the tax obligation (Income Tax - Resident Individual) and the return period.


- Click 'Submit'. You'll receive an acknowledgement receipt, which is your proof of filing your returns. Download and save this for your records.

Read Also: How to File KRA Returns for Employees


Conclusion




That wasn't so hard, was it? Remember, filing your KRA returns is not only a legal requirement but also an essential part of being a responsible citizen. Don't wait until the last minute to do it. Avoid the rush and potential penalties for late submission. Happy filing!

Always remember that this guide is here to help you navigate the process. However, tax matters can sometimes be complex, and individual circumstances can vary. When in doubt, don't hesitate to seek professional advice or contact the KRA for help.


FAQs




Do students File Nil returns?


Yes, students who have a KRA PIN but do not have any income during the tax year are indeed required to file nil returns. This is because once you have a KRA PIN, you are registered as a taxpayer, and therefore, you are expected to file your tax returns every year, regardless of your income status.


What happens if you don't file KRA nil returns?


If you don't file your KRA nil returns, there can be several consequences.

- Penalties: The Kenya Revenue Authority (KRA) imposes penalties on those who fail to file their returns. As of my knowledge cutoff in September 2021, the fine for individuals who do not file their returns was KES 2,000 ($20) or 5% of tax due, whichever is higher. However, it's always a good idea to check the latest information on the KRA website, as these amounts can change.


- Difficulty in Processing Transactions: If you do not file your tax returns, it could cause difficulties when processing transactions that require proof of tax compliance. This could include applying for government loans, like the Higher Education Loans Board (HELB) loans, which are crucial for many students.


- Future Complications: If you neglect to file your returns for several years, it could lead to more severe penalties or complications. KRA could consider it tax evasion, which is a serious offence.

Remember, being a responsible taxpayer is part of your civic duty. Even if you're a student with no income, it's essential to file your nil returns promptly every year.
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