BUSINESS REGISTRATION

INCOME TAX

Income tax Business Return filing

Income tax return filing

Income tax Return For Business Persons is required to be filed by with compliance of all relevant Income Tax Provisions and Rules. We are experienced in Income tax Compliance for Business as our core area of operation. We will manage your income tax track record properly to have maximum tax savings.

Our income tax return filing services for below tax audit limit is offered with best fees in the industry. Income tax filing for business falling under the prescribed category of business can be completed in presumptive taxation method and there is no requirement to maintain detailed accounts.

Income Tax Return Filing is Mandatory for – Private Limited Company, Partnership Firms.

Proprietorship Firm only if Total Income Exceeds Basic Exemption Limit. Filing Income Tax Returns on the due date and with proper gaps between each income tax return will give you better support while applying for Business Loans. It should be mandatory to comply with relevant sections of Income-tax to claim business expenses. Tax audit compulsory for Private Limited Company, and for proprietor and partnership firm it is based on business turnover.

1. All necessary documents should be provided in the required format.
2. Tax Amount should be Paid in advance Separately.
3. In case of Server issues, there may be a delay in filing your returns.
4. Additional Fee may be applicable if there is need to prepare balance sheet if it is the first time.
5. Fees Applicable to Below tax Audit limit persons.
6. Additional Fees May be chargeable based on the complexity of accounts and additional work.
7. Does not covers capital gain compliance. 
1. All Bank Account Statements Related to business.
2. Accounts maintained in any format.
3. Details of all Business Assets and liabilities.
4. Previous year financial statements.
5. Income Tax Login Credentials.
Rs. 2,500.00 ENQUIRY
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    Frequently Asked Questions

    No. Section 44AD allows Prescribed business to declare profit as minimum 8 % of turnover and above it in case of cash transactions and 6 % in case of Bank transactions. The current limit for Section 44AD Is turnover up to Rs. 2,00,00,000.

    Yes income tax revised return is permitted only in the case where you had filed income tax return on or before the due date or extended due date. And filing of revised return should have valid reasons as stated in income tax act and should be filed within a permitted time for revised return filing. You need to pay penalty and interest on excess tax if any for revised return filings.

    New business is like a baby trying to crawl and walk with good profits, some business may take up years to achieve profitability while franchise type business will get you quicker profits. In both the cases, there may be higher marketing expenses and other costs at the beginning making business in the loss situation. Income Tax act provides a benefit of carrying forward of business loss to succeeding fiscal years to adjust against profits. This is available only if you file your income tax returns before the due date.

    For an individual whose total income is less than basic exemption limit is not required to file income tax returns subject to certain conditions. In certain cases where TDS is deducted and your income is less than basic exemption limit, it is recommended to go for income tax return filing at your choice. Filing your income tax returns will also help you in getting the loan at low-interest rates.

    Yes filing of income tax returns after the due date is allowed and it will be considered as a valid return but it as to be done within the time allowed for filing belated income tax return. A business person will lose certain benefits like carrying forward of current year loss in case of late filing. Moreover, the filing of revised return is not possible in the case where you had filed your returns after the due date.

    Yes, You can file income tax returns for maximum 2 years at any point of time in a financial year, so if you are a nearby end of a financial year it is recommended to look on to pending income tax filing for any fiscal year. You can file income tax returns anytime within 2 years from the end of the financial year for which income tax returns are required to be filed. Other points such as notice by assessing officer and carry forward of loss should be considered before you decide to file your returns after the due date, Carry forward of current year loss available only for business filed returns on or before the due date.

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