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ITR

Income Tax Return (ITR) is a form in which the taxpayers file information about his income earned and tax applicable to the revenue department (i., income tax department).

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ITR

Income Tax Return is an official submission of documents that every Taxpayer is required to file in accordance to their income amounts, deductions and other related information pertaining to their Tax liability. It is a way to inform the Internal Revenue Service or State Tax Authority about one’s income, profit, losses or deductions from one’s business.  It is an explicit way of declaring one’s Total Income. This declaration should be made end of each Financial Year.

The details of income can be derived from salary, wage, commission, bank interest, share dividends, rents or any sort of part-time income received. The detailed provisions regarding income have been prescribed via FORM as notified with time by the Income Tax Department.

A person should file an Income Tax Return according to his type of income via FORM duly signed and affirmed by the Taxpayer ensuring his correct income statement as per the previous Financial Year.  Income Tax Return is the Income Statement filed via Form prescribed for different source of Income.




Types of ITR
ITR

HOW WE WORK

ITR-filing Steps ITR-filing steps

ADVANTAGES

Responsibility of Every Person

Filing of ITR in time is the responsibility of every person, the Government of INDIA have specified certain class of person who are exempted from filing rest all person have a responsibility to file ITR and pay taxes on time.

Income-Tax

For immigration profile obtaining visa outside India

The High Commissions of various countries or VFS centres across India have huge record of fabricated documents in which income tax returns of visa applicants are one of them.

Buying a high life cover

In Order to buy high life cover insurance these days you need to have ITR return to ger your annual income verified. "Life insurance companies, especially LIC, ask for ITR receipts these days if you opt to buy a term policy with sum insured of Rs 50 lakh or more,"

For eligibility in all Loan cases from Banks

3. For eligibility in all Loan cases from Banks For obtaining loan Income tax returns of last three years are the basic need , secondly the PAN is checked over the CIBIL website if Individual or corporate body is not a defaulter in any previous bank .

Self-employed

Businessmen, consultants and partners of firms do not get Form 16. Hence, ITR receipts become an even more important document for them, provided their annual income exceeds the basic exemption limit of Rs 2.50 lakh.

Refund in case of excess taxes paid can be claimed

Excess taxes paid by an individual either by way of tax deduction or advance/self-assessment tax can be refunded only by filing tax returns.

No Penalties

You can save money literally; as non-filing of returns attracts a penalty with minimum Rs. 5,000 and interest under section 234A.

For appointment in Judicial & Class one Jobs

For appointment in judicial job or class one job one need to demonstrate annual professional income, it is only the last 5 to 7 year income tax returns ( in judicial 7 year ITR record is checked in interview) that shows the candidate’s credibility by his/her ITR Record

For obtaining Government tenders, registration on panels

For contractors, ITR returns needed not only to be filed on time , but must be very much accurate ,& audited (if required) ,these must be signed with necessary documents because in tender- approval meetings or for finalizing professional panels , the selection body has ample options to mature the tender in favour of the fittest .

To carry forward losses

If you do not file returns, you will not be able to carry forward capital losses (short-term or long-term), if any, in a financial year to be adjusted against capital gains made in the subsequent years.

For accidental claim in third party Insurance

If you keep filing your ITR for you family, it can help you in filing the claim in case of accidental death of any member during roadside accident from insurance company failing with which the claim amount could be lower or even no claim because court take ITR as only evidence at the time of claim

WHAT WE OFFER

SALARY INCOME PLAN

₹ 500

PLUS TAXES(18%)

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  • CONSTITUTION :

    • INDIVIDUAL/HUF

  • CHARGES :

    • ₹ 500 PLUS TAXES(18%)

  • SOURCES OF INCOME TO BE INCLUDED :

    • SALARY

    OTHER SOURCES (LIKE BANK INT., FD INT. DIVIDEND)

  • DOCUMENTS REQUIRED :

    • PAN CARD, AADHAAR CARD, FORM-16, BANK STATEMENT

SALARY PLUS RENTAL INCOME PLAN

₹ 1000

PLUS TAXES(18%)

Apply Now
  • CONSTITUTION :

    • INDIVIDUAL/HUF

  • CHARGES :

    • ₹ 1000 PLUS TAXES(18%)

  • SOURCES OF INCOME TO BE INCLUDED :

    • SALARY

    HOUSE PROPERTY

    OTHER SOURCES (LIKE BANK INT., FD INT. DIVIDEND)

  • DOCUMENTS REQUIRED :

    • PAN CARD, AADHAAR CARD, HOUSE PROPERTY ADDRESS AND RENT P.M, HOUSE TAX RECEIPT, FORM-16, BANK STATEMENT AADHAAR

BUSINESS INCOME PLAN

₹ 2000

PLUS TAXES(18%)

Apply Now
  • CONSTITUTION :

    • INDIVIDUAL/HUF

  • CHARGES :

    • ₹ 2000 PLUS TAXES(18%)

  • SOURCES OF INCOME TO BE INCLUDED :

    • SALARY

    OTHER SOURCES (LIKE BANK INT., FD INT. DIVIDEND)

    HOUSE PROPERTY

    BUSINESS INCOME

    CAPITAL GAIN

  • DOCUMENTS REQUIRED :

    • PAN CARD, AADHAAR CARD, HOUSE PROPERTY ADDRESS AND RENT P.M, HOUSE TAX RECEIPT, FORM-16,BANK STATEMENT

COMPANY, FIRM AND OTHER CONSTITUTION PLAN

₹ 3500

PLUS TAXES(18%)

Apply Now
  • CONSTITUTION :

    • COMPANY/PARTNERSHIP FIRM/TRUS/AOP/BOI

  • CHARGES :

    • ₹ 3500 PLUS TAXES (18%)

  • SOURCES OF INCOME TO BE INCLUDED :

    • BUSINESS INCOME

    HOUSE PROPERTY

    CAPITAL GAIN

    OTHER SOURCES (LIKE BANK INT., FD INT. DIVIDEND)

    HOUSE PROPERTY

  • DOCUMENTS REQUIRED :

    • PAN CARD OF TRUST/ PARTNERSHIP/ COMPANY, PAN CARD OF TRUSTEE/PARTNER/DIRECTOR, AADHAAR, CARD OF TRUSTEE/PARTNER/DIRECTOR, TRUST DEED/ PARTNERSHIP DEED/COI, BANK STATEMENT

FREQUENTLY ASKED QUESTIONS

1. Unable to claim benefits U/S 80 TTA/TTB not enabled in Chapter VI A?
Answer: The deduction u/s 80 TTA and 80 TTB will be applicable as per the DOB/Residential status entered in the Personal Information sheet. This deduction shall be allowed only if the income has been offered in "Interest from Savings Bank" or/and "Interest from Deposits (Bank/Post Office/Co-Operative Society) in Schedule OS in Return.
For more information refer to instructions for limits on Amount of Deductions as per'Income Tax Act'.
Answer: To claim the benefits u/s 80 CCD (2), kindly select the appropriate option in the utility under 'PART (A) General Information/Personal Info tab > Select 'Nature of employment' in ITR1 & ITR4 and in Schedule Salary in ITR2 & ITR3 to proceed further. The deduction under this section shall be limited to 10% of "Net salary - Value of perquisites as per Section 17(2)"
Answer: Deduction u/s 80G shall auto-populate from Schedule 80G provided in the utilities. To claim the same user needs to fill Schedule 80G. Moreover the limit for Donations in Cash is Rs. 2000/- (Two thousand Rupees only), so if, the amount in Donation in Cash exceeds Rs.2, 000 the same is not eligible for deduction. If you have paid donations in other modes kindly enter the details in appropriate cells for claiming eligible amount of donation in returns of income for A.Y2019-20.
Answer: You are requested to retry after sometime by generating the fresh Aadhar OTP and proceed further. Or Kindly contact the UIDAI Helpdesk at 1947 for Aadhar OTP related issues. Alternatively, you may e-Verify the income tax return through options given below: Login to e-Filing through Net Banking EVC through pre-validating Bank Account EVC through pre-validating Demat Account EVC through Bank ATM
For more information, kindly go through the HELP option provided in e-Filing website www.incometaxindiaefiling.gov.in. Help> Taxpayer > e-Verification > e-Verification options.
Answer :The mentioning the valid 12 digit Aadhar number/ 28 digit Enrolment ID [for those who are yet to get Aadhar but enrolled] in the ITR form is made mandatory for filing of returns.  If you have obtained AADHAAR then kindly enter the 12digit AADHAAR number in the ITR.  If you have not obtained AADHAAR then kindly enter the 28 digit Enrolment ID in the ITR.
Answer :You are requested to enter the e-Pay tax payment details (BSR Code, Challan Details etc) manually while filing the income tax return in 'Tax Details' sheet under 'Sch IT - Details of Advance tax and self-assessment tax payments' and proceed further.
Answer: Date of Filing need to be entered in CFL Schedule of ITR for successful generation of XML
Answer: Kindly download latest ITR software and proceed further
Answer: Deduction for House Rent Allowance u/s 10(13A) at Point-3 can be claimed only if the same is offered as Salary Income in "Salary as per Section 17(1)"in "House Rent Allowance". Similarly any Salary exemption claimed u/s 10 should be offered in schedule salary (Salary as per 17(1), Salary as per 17(2) and salary as per 17(3), whichever applicable).
Answer: Deduction u/c VI-A is not allowing may be because there is no Income being offered in the Return. Please fill some Income and then proceed to fill deduction(s) u/c VI-A, the same shall be allowed up to the maximum eligible amount.

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