BENEFITS
- Avoid Notices
- Avoid late fee's
- Claim tax refund
- Carry forward losses
- Obtain visa
- Easy loan approval
- Proof of Income
- Help in getting Insurance
REACH US
INCOME TAX CALCULATOR
INCOME TAX RETURN FILING PROCESS
Fill Application
Fill application form with complete and accurate details.
Process
Our executive will verify and process your application
Sharing report
We will shared all required MIS, reports and returns to your mail
Make Payment
Transaction based payment after getting reports.
FAQ'S
Whether hiring CA for filing ITR is manditory
No, It is not mandatory to hire CA for filing Income Tax Return. Procedure to file ITR requires financial & legal knowledge. So it is advisable to hire a professional for the Job.CA is required for Limited companies
Document required for Non salary
Books of accounts – Bank Statements – Bank Pass Book – Confirmation of Accounts
Production Flow Chart – Stock Register – Audited Annual Accounts – Tax Audit Report
TDS Return & TCS Return copy – Annual Return copy – Certificate of exemption for TDS
Service Tax Return copy – Copy of payment challan of all statutory obligations –
Memorandum and Articles of Association OR Partnership deed, or Trust deed, or Limited Liability partnership deed, Etc
Loan agreement with financial institution or bank – Loan confirmation letter – Loan disbursement letter – Repayment of loan receipts – Loan closure letter
Document required for salary
Books of accounts – Bank Statements – Bank Pass Book – Confirmation of Accounts – TDS Details -Exemption from tax details -Deductions details as per sec 80C to 80U
What is the penalty for late filing
The late filing fee depends upon the total income of the taxpayer as below:
- For Individual or HUF:For those having total income upto Rs. 2,50,000: Nil
- For those having total income between Rs. 2,50,000 & Rs. 5Lakhs: Rs. 1,000
- For those having total income above Rs. 5 Lakhs: Rs. 5,000
- For Companies/LLP/Firm:
- For those having total income upto Rs. 5 Lakhs: Rs. 1,000
- For those having total income above Rs. 5 Lakhs: Rs. 5,000
Is it necessary to attach any document along with ITR filed
No
Income tax due dates
For Individuals, the last date of filing Income Tax Return is 31st July of next financial year
-For Companies & Persons who require tax audit under section 44AB, the last date of filing Income Tax Return is 30th September of next financial year.
Do i need to file ITR return if Loss of business
Yes, where there is a loss in business, you must definitely file return and that too on or before due date, so that you may carry forward the losses to next years and set off such losses against future income for 8 years. If return is filed after due date, carry forward benefit will not be available.
Whether NIL ITR is mandatory to file
- All the business entities namely companies, partnership firm, LLPs must file ITR even if their total income is zero. However, in case of individuals and HUF, ITR is required to be filed where total income exceeds Basic Exemption Limit
What is the threshold limit for 269SS?
According to Section 269SS of the Income Tax Act, no person shall take any loan or deposit from any person other than by account payee cheque, account payee demand drafts, or online transfer through a bank account, if the amount of such loan or deposit is Rs. 20,000 or more.
What is the limit of 269ST income tax?
Section 269ST prohibits any person to receive an amount of Rs. 2 lakh and above in cash: In aggregate from a person in a day, or. In a single transaction.