Income Tax Return Filing

Explore more about Income Tax Return Filing

Income Tax Return Filing should be filed by every responsible Indian citizen. With current technology, it is easy to file your income tax online. It is a fast and accurate process that does not require any time limit.

In India, e-filing income tax return filing ITR forms through the official website. This is a critical task because the Income Tax Department has various forms titled ITR 1 through ITR 7. Each form has a distinct function and belongs to a specific category.

Our Team is expert in filing these ITR forms. Get in Touch with us for more information.

Who must file Income Tax Returns?

Salaried individuals who earn more than the exemption level before deductions under sections 80C to 80U
Regardless of whether a firm is profitable or not, all firms must file IT returns, whether they are a limited liability company, LLP, or partnership
Directors of a private limited company and partners in a limited liability partnership.
Individuals who earn dividends from mutual funds, bonds, equities, fixed deposits, interest, and other sources
Individuals who receive income through charity or religious trusts, as well as income from voluntary contributions
NRIs and tech professionals on onsite deputation, as well as anyone with foreign income or assets

Checklist for Income Tax Return Filing

Section 139 (1) of the Income-tax Act 1961 states that any individual whose total income during the previous year is more than the maximum amount (₹2.5, 3 or 5 lakhs) not chargeable to tax must file their ITR.

Last Date for Income Tax Return Filing

Individuals or a firm that are not liable for audit should file income tax returns before July 31 every year.
An institution / company that is liable for an audit should file its IT returns before September 30 every year
Individuals and companies filing belated returns should complete before March 31 of every year

Documents Required for GST Registration

For An Employee

PAN card
Form 16 provided by your employer
Salary slip (each month)

For Business Owner

Trading report
Business Account Details
Profit and Loss statement if any

benefits of filing income tax return in india

Loans
Bank loans like education loans, vehicle loans, personal loans, can be availed easily as they require the last three year’s IT returns.

Visa
As Immigration centers scrutinize many documents and IT returns, proofs are a mandatory document for visa applicants.

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Frequently Asked Questions

We encourage you to come up with any sort of questions related to legal documentation or any of our service, methodology implemented, quality assurance etc.

We give our best in providing consultation and give a quality output. Here are set of few questions which our beloved clients ask frequently, have a look at them.

If I had paid extra tax how would it be refunded to me?

The government has provided options to refund your excess tax amount when you file your IT return. This will be credited directly to the specific bank account through an ECS. Make sure to file the bank details with utmost care.

What is the minimum salary to file ITR?

As per the Income tax Act, you should file an income tax return in India if your total income exceeds ₹2.5 lakh in the given financial year.

What are the benefits of filing income tax return in india if I'm a salaried individual?

- Benefits of filing income tax return in india as salaried individual ensures compliance with tax laws and helps you claim refunds if you've overpaid taxes. It also helps in maintaining a clean financial record, which can be useful for future financial transactions.

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