Income Tax2019-07-11T16:51:52+05:30
Tradeviser Person

Income Tax Compliances
Starting at INR 499 onwards



Income Tax

Any citizen, be it resident or not, who earns or gets an income in India is subject to income tax. The Government of India has levied the tax on the income of a person as per the provisions contained in the Income Tax Act 1961. The income earned during the year from 1st April to 31st March is subjected to Income Tax. Income Tax Return (ITR) is a proof of the citizen’s tax payment. It contains details about your annual income and the amount of tax you have paid. Any Indian Citizen whose income comes under the tax bracket is required to file Income Tax Returns (ITR). Filing an Income Tax Return (ITR) helps you to claim the refund for the excess of the amount paid as Income Tax by the Income Taxpayer. Failing to file Income Tax Return (ITR) leads to a heavy penalty and face legal consequences.

How long will it take?

Upload Required Documents

One Day

Preparing Your Return

Two – Three Days

Payment of Tax

One Day

Filing Your Return

Same Day

Confused about something ?

Drop your details and we will call you back



Individual Plans

Pack

Starter

INR 999+GST

Applicable For:

Income Under Basic Tax Slab
Salaried Persons
Freelancers

Click Here
Pack

Basic

INR 1499+GST

Applicable For:

Salaried Persons
Freelancers
Commission & insurance Agents

Click Here
Pack

Advanced

INR 2499+GST

Applicable For:
Businesses Not Maintaining Books
Business Turnover Under 2 Cr
Professional Income under 50 Lakhs
Income Under Presumptive Taxation

Click Here

Business Plans

Pack

Starter

INR 2999+GST

Applicable For:

Business Maintaining Books of Accounts.
Turnover Upto 10 lakhs
Doesnot Include Income Tax Audit Report
Doesnot Include Income Tax Audit Report
Not Applicable For Intra-Day and Derivative Traders
Advance tax Provisions Not Applicable
TDS Provisions Not Applicable

Click Here
Pack

Basic

INR 3499+GST

Applicable For:

Business Maintaining Books of Accounts.
Business Turnover Upto 2 Cr
Professional Income under 50 lakhs
Doesnot Include Income Tax Audit Report
Not Applicable For Intra-Day and Derivative Traders
Advance tax Provisions Applicable
TDS Provisions Not Applicable

Click Here
Pack

Advanced

INR 5999+GST

Applicable For:

Businesses Required To Maintain Books Of Accounts
Business Turnover Upto 5 Cr
Professional Income under 2 Crores
Doesnot Include Income Tax Audit Report
Intra-Day and Derivative Traders
Advance tax Provisions Applicable
TDS Provisions Applicable

Click Here

Frequently asked Questions

​​​​​​ITR return forms are attachment less forms and, hence, the taxpayer is not required to attach any document (like proof of investment, TDS certificates, etc.) along with the return of income (whether filed manually or filed electronically). However, these documents should be retained by the taxpayer and should be produced before the tax authorities when demanded in situations like assessment, inquiry, etc.

Yes, if you have not furnished the return within the due date, you will have to pay interest on tax due. If the return is not filed up to the end of the assessment year, in addition to interest, a penalty of Rs. 5,000 shall be levied under section 271F . [No penalty section 271F would be levied w.e.f. Assessment Year 2018-19]

Note: W.e.f. assessment year 2018-19, fee as per section 234F is required to be paid if return is furnished after due date. Fee for default in furnishing return of income will be as follows:

  1. Rs. 5000 if return is furnished on or before the 31st day of December of the assessment year;
  2. Rs. 10,000 in any other case

However, late filing fee shall not exceed Rs. 1000 if the total income of an assessee does not exceed Rs. 5 lakh.

​​​​​
Yes, if one could not file the return of income on or before the prescribed due date, then he can file a belated return. A belated return can be filed at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. A belated return attracts interest and penalty .

E.g., In case of income earned during FY 2016-17, the belated return can be filed up to 31st March, 2018. ​​

​​​​​The excess tax can be claimed as refund by filing your Income-tax return. It will be refunded to you by crediting it in your bank account through ECS transfer. The department has been making efforts to settle refund claims at the earliest.​​
​​​​Filing of return is your duty and earns for you the dignity of consciously contributing to the development of the nation. Apart from this, your income-tax returns validate your credit worthiness before financial institutions and make it possible for you to access many financial benefits such as bank credits, etc.​​
​​Amounts paid as advance tax and withheld in the form of TDS or collected in the form of TCS will take the character of your tax due only on completion of self-assessment of your income. This self-assessment is intimated to the Department by way of filing of the return of income. Only then the Government assumes rights over the taxes paid by you. Filing of return is critical for this process and, hence, has been made mandatory. Failure will attract levy of penalty.​​

A taxpayer may pay tax in any of the following forms:
(1) Tax Deducted at Source (TDS)
(2) Tax Collected at Source (TCS)
(3) Advance tax or Self-assessment Tax or Payment of tax on regular assessment.
The Income-tax Department maintains the database of the total tax paid by the taxpayer (i.e., tax credit in the account of a taxpayer). Form 26AS is an annual statement maintained under Rule 31AB​ of the Incom​e-tax Rules disclosing the details of tax credit in his account as per the database of Income-tax Department. In other words, Form 26AS will reflect the details of tax credit appearing in the Permanent Account Number of the taxpayer as per the database of the Income-tax Department. The tax credit will cover TDS, TCS and tax paid by the taxpayer in other forms like advance tax, Self-Assessment tax, etc.
Income-tax Department will generally allow a taxpayer to claim the credit of taxes as reflected in his Form 26AS.

​Non-payment of tax attracts interests, penalty and prosecution. The prosecution can lead to rigorous imprisonment from 3 months to 2 years (when the tax sought to be evaded exceeds Rs. 25,00,000 the punishment could be 6 months to 7 years).​​

Do NOT follow this link or you will be banned from the site!