INCOME TAX RETURN FILING
Income Tax return(ITR) Filing for salaried and self-Employed
As per the Income tax Act 1961,Every person holding a valid PAN is required to File Income tax return for every Financial year, even if he has not earned a single rupee.
Advantages of Filing the ITR
- Easy processing of Bank Loan, study Loan, Foreign trips and Credit cards
- Good reputation in the Eyes of Income Tax Department
- Individual who Files Income tax-return on time rarely receives Income Tax Notice.
- Filing of ITR forms the base for accessing various Government schemes.
- ITR is a compulsory document as prescribed by law and can be used as a proof of identity and address proof.It is the responsibility of every person to File ITR and non-Filing is the violation of the Income Tax Act, 1961.
For Both the salaried and self-employed the Forms and computation are entirely different.
Our staff is equipped with all the necessary skills for filing the ITR.
IMPORTANT POINTS TO BE KEPT IN MIND
- Lot of care has to be taken while Filing the ITR as data filled by us is scrutinized by the Income tax Department for sending notices and clarifications.
- Always hire an expert for filing the Income Tax return(ITR) and make you collect the Computation and the signed Balance sheet and Profit and Loss Account to avoid future problems.
- Always check your computation before filing the ITR , you should also know what the auditor is filing and make sure you ask your auditor lot of Questions as your ITR forms the base for your Bank loans, Foreign studies and other important events.
Documents required for Filing ITR:-
(A) For Individual(Self Employed)
- Bank account statement of all the Banks in which transactions were made during the Financial year under review to prepare computation and tax amount.
- Details of any investments made or property purchased during the Financial year under review.
- Self-attested clear copy of PAN and Aadhar card of the individual.
- Mobile number and E-mail ID of the individual.
(B) For Individual(salaried)
- Bank account statement of all the Banks in which transactions were made during the Financial year under review.
- Details of any investments made or property purchased during the Financial year under review.
- self- attested clear copy of PAN and Aadhar card of the individual.
- Mobile number and E-mail ID of the individual.
(C) For Company/OPC/Section 8 Company
- Self attested PAN card of the Company with stamp and KYC of the Directors duly self attested
- Signed Balance sheet and P&L by the Auditor with notes
Filing of the ITR of the Company is a tedious and long time process as the Income tax department asks for lot of information while filing of ITR
We do in depth analysis of all the Bank entries before filing the ITR in order to reduce the risk of mistakes and in return notices by the Income tax department.
Process of Filing ITR:-
| Description | |||
|---|---|---|---|
| Scrutinizing all the Bank statements as provided by the client | |||
| Discussion with the client regarding the tax amount and gathering pending information from the client if any. | |||
| Preparation of the computation and sending it for the client’s Final approval | |||
| Filing the ITR with the department and sending the acknowledgement to the client | |||