Income Tax / TDS

IT Return

IT Return

An income tax return is a statement of income earned to calculate tax liability and payment or refund of taxes. It can be individual income return, Business-Income-Return,bulk return, revised return etc.

  • Individual Return - Every individual who earns a certain amount of income must file this type of tax return.
  • Business Return - Income arising from business or profession by means of interest, salary, commission, remuneration as a partner etc.
  • Bulk return - Filing of income tax return i.e ITR- 1 to 7 in bulk quanitities.
  • Revised Return - It is filed in a case where there is any mistake in original return due to bonafide reason under section 139(5) of Income Tax Act.

Filing Procedure

  • Step 1 - Our Expert will Call you & ask for the documents on the basis of which ITR has been filed.
  • Step 2 - After receiving the documents from you our Expert will analyze & verifying documents.
  • Step 3 - After verification of documents expert will filed the ITR.
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IT Return

 

Documents Required

  • PAN Card
  • Aadhar Card
  • Investment Proof
  • Bank Statement
  • Challan of tax payment like advance tax or self assessment tax.
  • Documents on purchase & sale of investments/assets.
  • Home loan cerificate.
  • TDS certificates

Types of Return

Return Details
ITR 1 For individuals having income from Salary and interest
ITR 2 For individual & HUF not having income from Business Profession
ITR 2A For Individuals & HUF not having Income from Business or Profession and Capital gains and who do not hold foreign assets.
ITR 3 For Individuals & HUF being partners in firms and not carrying out business or profession under any proprietorship.
ITR 4 For Individuals & HUF having income from Business or Profession
ITR 4S For Individuals & HUF having income from presumptive business
ITR 5 For persons other than - (i) individual, (ii) HUF, (iii) company and (iv) person filing
ITR 6 For companies other than companies claiming exemption under section 11
ITR 7 For persons including companies required to furnish return under sec- 139(4A) or sec- 139(4B) or sec- 139(4C) or sec- (4D) or sec- 139(4E)

 

Due Dates for filing of return

For Individuals 31-Jul
For Businesses 30-Sep

Benefits of Filing income tax return

Filing of ITR is basically a legal obligation which everyone who falls under is required to comply with.
But, it also helps in getting bank loans , visas, for claiming refund against excess income tax paid as a proof of income certificate.

Respond to Tax Notice

If you receive any notices from the Income tax department . After understanding the meaning of those notices and giving appropriate response is very important for every taxpayer.
You just need to email the details for which notice has been issued and our expert will take care to the rest.

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