Every Resident or Non resident of India who earns income within India is subject to income tax based on the certain limit & exemption. Your income could be from salary, interest income from savings, income from mutual funds, sale of property or business or professional income.
An Income Tax Return (ITR) is an income tax form which you need to fill and submit it electronically to the Income Tax Department. In this form you need to give details of your income and taxes (taxes – that you may have paid or other people who may have deducted your tax). The income tax return forms are in various formats viz. ITR-1, ITR-2, ITR-3, ITR-4, etc. Each form depicts a separate category of income tax payers. You need not worry about your category as we handle it for you. The tax return formats are pre-defined formats by the Central Board of Direct Taxes (Income tax Department).
The tax returns must be filed every year and must be filed by a specific due date. If you have paid excess tax during a year, you are eligible for a ‘Income Tax Refund’, subject to the department’s interpretations and calculations. Non filing of Income tax Returns leads notices from the Income Tax Department asking you to file your return and may ask you to pay a penalty for not filing your income tax return. Government will not give you your refund. If they find you to owe the government taxes, the interest on the base tax keeps adding up till you pay.Department have inserted a new section 234F in Income Tax Act, 1961 with effect from Assessment Year 2018-19 (Financial Year 2017-18). Under this section, fee (penalty) is levied if the Income-tax return is not filed within due date.
We at Actax, have years of Expertise in providing tax assistance to clients from our Tax division and to over 400 other regular clients of various stature viz. Individuals and Corporate, Firms, Societies, Trusts.
After submitting the form, you will get call from our expert
Our Experts collect all information & documents required to file ITR.
We will file your returns within due date & you shall receive the ITR copy.
In India There are 2 types of Tax Structure–Direct Tax and Indirect Tax.
Direct tax is a tax that is calculated and paid directly on your Income e.g. tax on salary, Tax on Capital gain, Tax on Business Income, etc. Income tax is a direct tax.
Indirect tax is a tax that is indirectly charged to you on purchase of goods or use of service, now covered most indirect taxes under Goods and Services Tax (GST).
Every Resident or Non resident of India who earns income within India is subject to income tax based on the certain limit & exemption. Your income could be from salary, interest income from savings, income from mutual funds, sale of property or business or professional income. Income tax rates are pre-decided at the start of the year in the Union Budget or through departmental notification. The tax paid or deducted on these incomes is called the income tax.
You will get bank loans easily if you regularly file returns every year. It is easier to get loans for vehicle, home, personal etc.
If your income tax refund is pending with the department, you can easily claim for that amount by filing Income Tax Return within due date.
Your Return Filed Copy can be used as an address proof or Identity Proof as it is certified & verified from a government body.
Most embassies ask for past 2 years of ITR copies to process your VISA application. It is useful for easier VISA processing.
We at Actax, have years of experience in providing tax assistance to clients from our Tax division and to over 400 other regular clients of various stature viz. Individuals and Corporate, Firms, Societies, Trusts. We make sure that tax filing for our clients is made in the most accurate and timely manner. Also, our experts ensure that there is maximum tax savings in terms of reliefs and exemptions provided under the latest tax rules of the country.
Actax knows well where you can save your taxes.
We always guide you in such a way to make only such investments which not only reduce your taxable amount but will also add e-returns to your income. And holds an excellent knowledge over legal sections and subsections out of which he adds the maximum deductions to your taxable income as possible.
“Actax” strategies can help in building various tax and cost statements where you will get an accurate estimate of your tax payable.
Actax keep a track record of all due dates of filings & helps you save time & efforts of your business.
As an essential requirement, you require help of a Qualified Professional Accountant in case of business filing where audit report is to be submitted to file ITR. Actax will provide support services for getting your books audited compliant with the law.
We also offer services for those clients who are having Outside India transactions because their issues are far more complex than others who concentrate their business in the domestic markets only.
Our Tax Specialist is always at your service to provide the most optimum advice together with the most effective tax plan in-line with your business goals and objectives.
Tax Consultant
Tax Consultant is one who experts in every legal aspect of tax filing and business. He guides entrepreneurs and individuals to interact with government as an intermediary to deal with all legal matters. A Tax Consultant/ Experts can do anything with effort, which is much less than the effort applied by anyone.
Feel free to let us know what you are looking for other than this in Compliance & Strategies! We ensure that services after evaluating our capabilities. All you need to do is, click on the button below.
Login to Income Tax e-Filing Portal >> enter your PAN number as User ID >> Login to Portal >> Click on e-File menu >> Click on link Income Tax Return
If your salary exceeds the exemption limit per year or taxable amount in a year, ITR filing is mandatory. Exemption limit is 2.5 Lakhs.
The employer provides form 16 to employees having taxable salary. It includes all the details about TDS deducted in a year.
Form 16B only requires PAN of deductor and deductee therefore Form 26QB can be filed without TAN.
You get TDS refund only if the TAX paid is more than the actual TAX required to pay. In such cases TDS is refunded.
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