Income Tax Registration

ITR Registration

" Get Your Income Tax Return Filed Today. "

File your IEC Income Tax Return hassle free from your comfort.

₹ 999/- (All Inclusive)

We'll never share your email with anyone else.

2 Lakhs

Happy Customers

300+

Professionals

250+

Partners

₹ 1,999/- (All Inclusive)

We'll never share your email with anyone else.

2 Lakhs

Happy Customers

300+

Professionals

250+

Partners

 
 

How to Income Tax Return Works?

 

Income Tax is collected by the central government on the income of a person. The Income Tax Department verifies the details and decelarations of income made by individual.

 

Step 1 - Collect Information

We will collect your income details for filing tax on your behalf.

 

Step 2 - Preparing ITR

We will prepare your ITR for filing based on the details and decelarations.

 

 

Step 3 - File Return

Finally, We will file the return under the slabs in which you are eligible for.

 

 
 
 

What is income tax return filing ?

 

It is simply a form to be filed with the Income Tax Department. A Form to be filed as a statement of income earned. The income earned by the individuals and businesses are subject to tax. The income earned by the individuals and businesses are subject to tax. The time limit for filing ITR is different for various taxpayers based on the guidelines. ITR Filing is mandatory for Taxpayers whose income surpasses the prescribed income limit. This process is regulated under the Income Tax Act 1961.

 

Benefits of Income tax return filing

 
  • Claim refund of TDS paid from salary
  • Loan processing and high risk cover
  • Define financial worth
  • Allows carry forward of losses
 

Documents required for ITR filing

 

Bank account statement: The statement for concerned Financial Year is required to assess other incomes

Entities PAN card : PAN card of all director or partners is required.

Investment/ expenses u/s 80: Details about the investments made or expenditure u/s 80 is required.

PAN card : Taxpayer PAN card is required.

Form 16 : The salaried person should provide the TDS Certificate, known as Form 16.

Aadhar card : Aadhar card of all directors or partners is required.

Financial statement : financial statements of business entities are required.

Cancelled cheque : cancelled cheque of bank is required of taxpayer’s.

 

Advantages of tax filing are, but not limited to

 
  • Carry-forward losses
  • Easy loans approval
  • Establishing income in compensation cases
  • Quick visa processing
  • Income & address proof
  • Claim tax refund
  • Avoid penalty
 

Process of Income Tax Return filing

 
Step 1

Collect required documents such as TDS certificates, capital gains statement

The first step is to collect the required documents you will need to file your ITR such as form 16, salary slips and interest certificates.

Step 2

Download and check form 26AS:

The second step is to download and check form 26AS.

Step 3

Rectify the errors in form 26AS, if any:

This is the third step in which the amounts shown in the TDS certificates (Form-16, Form-16A etc.) and Form 26AS do not match, then you must take up the matter with your deductor to get the errors rectified.

Step 4

Compute total income for the financial year:

This the fourth step in which Total income is computed by adding incomes from five different heads and claiming all the relevant deductions allowed under the Income-Tax Act and setting off losses, if any.

Step 5

Compute your tax liability:

This is the fifth step after computing your total income, you must calculate your tax liability by applying the tax rates in force for FY 2019-20 as per your income slab.

Step 6

Calculate final tax payable, if any:

This is the sixth step in which the final tax payable.

Step 7

File income tax return after all taxes are paid:

This is the seventh step in which after filing all taxes are paid after that income tax return file.

Step 8

Verification of ITR:

The last step of ITR filing process is verification.

Step 9

E-verification acknowledgement:

If you have sent ITR-V via post to the I-T department, they will send you an email confirming that your ITR-V has been received by the I-T department, i.e., your return stands verified.

Step 10

IT department will process return after verification:

Once the return is processed, the I-T department communicates the same to you via email to your registered email ID.

 

Who should file an Income Tax Return?

 
  • Sole Proprietors
  • The ITR filing is compulsory for 'Partnerships Firm', 'Sole Proprietorship Firm', 'Companies', and 'LLPs' irrespective of their turnover, income, profit or loss.
  • Individuals (Resident of India & NRI's) – Necessary for people surpassing the prescribed income limit.
  • LLPs and Partnership Firm
  • Companies

Rs.999/-

Standard

  • Filing of ITR-1 for an individual with salary.
  •  
  •  
  •  

Rs.1,299/-

Business

  • Filing of ITR-4 of a person earning business or professional income who have opted for presumptive income scheme.

Rs.1,599/-

Premium

  • Filing of ITR 3, 5 or 6 for LLP, OPC, Companies, Partnership Firms and individuals who have not opted for the presumptive income scheme.
 

FAQ

 

  • Association of Persons (AOP)
  • Local Authority
  • Artificial Juridical Person
  • Individual – Salaried, Self-employed or Professional,
  • Hindu Undivided Family (HUF)
  • Body of Individuals (BOI)
  • Political Party
  • Company
  • Firm

If an Individual/HUF is having income as a partner of a partnership firm that is carrying out business/profession, he cannot file ITR-3. In such a case, he is required to file ITR 2

Legaltax automatically fetches information of your 26AS form, for you.

You can file a belated return.

You can pay by either cash/cheque in any designated bank branch or online on the NSDL website.

In case you fail to file the return on a due date, there is a provision to file return up to a certain date, however with a late filing fee and reduced benefits, the belated return can be filed before the end of Assessment Year for the concerned financial year.

All the business entities (Company, LLP,Firm) must file ITR even if their total income or tax payable is zero.

For return filed after due date but till December – late filing fees of ₹ 5,000 will be charged. For return filed after 31st December – late filing fees of ₹10,000 will be charged. For small taxpayers with an income up to ₹ 5 Lakh, the fees are limited to ₹ 1,000 only.

Yes, filing ITR in case of loss in my business income.

Form 16 can be coined as Salary TDS- Tax Deducted at Source Certificate that an executive issue for the TDS subtracted.

  • 10,000 in any different case. Nevertheless, if the total income of the person than Rs. 5lakh, later the fee payable shall be Rs. 1000. 5000 if ITR is filed on or before 31 December of the tax year.

This implication form is known as Income Tax Return. The time limit for filing ITR is different for various taxpayers based on the guidelines.

It is simply a form to be filed with the Income Tax Department. A Form to be filed as a statement of income earned. The income earned by the individuals and businesses are subject to tax. The income earned by the individuals and businesses are subject to tax. The time limit for filing ITR is different for various taxpayers based on the guidelines.

  • Sole Proprietors
  • The ITR filing is compulsory for 'Partnerships Firm', 'Sole Proprietorship Firm', 'Companies', and 'LLPs' irrespective of their turnover, income, profit or loss.
  • Individuals (Resident of India & NRI's) – Necessary for people surpassing the prescribed income limit.
  • LLPs and Partnership Firm
  • Companies

  • Claim refund of TDS paid from salary
  • Loan processing and high risk cover
  • Define financial worth
  • Allows carry forward of losses

  • Carry-forward losses
  • Easy loans approval
  • Establishing income in compensation cases
  • Quick visa processing
  • Income & address proof
  • Claim tax refund
  • Avoid penalty
    • Collect required documents such as TDS certificates, capital gains statement
    • Download and check form 26AS
    • Rectify the errors in form 26AS, if any
    • Compute total income for the financial year
    • Compute your tax liability
    • Calculate final tax payable, if any
    • File income tax return after all taxes are paid
    • Verification of ITR
    • E-verification acknowledgement
    • IT department will process return after verification

    • Bank account statement
    • Entities PAN card
    • Investment/ expenses u/s 80
    • PAN card
    • Form 16
    • Aadhar card
    • Financial statement
    • Cancelled cheque

    ITR-6 is to be filed by companies that are not claiming any exemption under Section11.

    Yes , return filing is compulsory if your taxable income is above the slab, whether taxes paid or not.

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