Filing of Income Tax return is necessary if you have earned any income. Make filing your Income Tax return hassle-free by using our service. Filing ITR in India is completely online and paperless. There is no need for you to submit physical return at the local income tax offices. All documents, wherever necessary need to be submitted online. Income tax return is to be filed for a particular Financial Year (i.e. April to March) irrespective of Accounting Year adopted by you.
Why You Should File Income Tax Returns?
- Taxable Income: If you have taxable Income in India, you must file your ITR in India. This is applicable for an individual if his/her taxable income exceeds INR 2.50 Lakh. In case you are a Company. LLP or Partnership Firm, it is mandatory for you to file ITR irrespective of your income or loss.
- Credibility: Filing Income tax Return enhances your credibility and your credit availing capacity from the bank perspective. Even if you are not liable for ITR filing for any reason, it is a good practice to file the same. Your ITR serves as a proof of your Income. No other document does this job.
- Carry Forward Losses: If you have incurred any losses in your business on account of expenses or depreciation, you must file your return in order to carry forward those. The benefit of this can be availed once you have taxable income. Such losses, then, can be set off against taxable profits.
- Financial Strength: A good track record of regular ITR Filing shows your financial strength and is indicative of your regularity. This helps you to obtain quick bank loans and also visa. Hence, it is advisable to file ITR on regular basis.
- Tax Refunds: For any reason, if your TDS has been deducted and the same is higher than your actual tax payable, such a claim of refund can only be done by filing a correct IT return in time. You won’t get your refunds if you don’t file your ITR.
- Avoiding Tax Notices: There are many criteria defined under the Act, in which you may be served legal notice if you have not filed your ITR. Filing your ITR correctly and in time can ensure that you don’t have to face any of these.
Documents Required for Income Tax Returns
For Salaried Individuals
- PAN
- Form 16
- Details of other Source of Income, if any
- Donation receipts, if any
- Bank Statement
For Businesses
- PAN
- Financial Documents
- Audit Report, if applicable
How We File Income Tax Return?
- Step1: We collect documents from you online.
- Step2: We prepare of your ITR return documents as per appropriate form/format.
- Step3: Our CA team file your ITR and generate Acknowledgement for you
- Step4: We share acknowledgement with you and process is completed.
- Step5: We will let you know if you are eligible for refunds too.
Still Curious?
We are a friendly bunch. Reach out to us . Our expert ITR return team would be happy to provide you one-on-one personal assistance for your queries.