Send Documents as provided in documents list along with fees
We will do the calculation and send pro-forma return for approval
Approval received, return uploaded and e-verified using Aadhar
IT Return Filing is mandatory for getting Home Loans, Visa and many other benefits
1 Working Day
Maximize your tax saving to deliver maximum possible refund
Matching of ITR detail with Form 16
This filing package is suitable for person who is drawing salary income, hasn’t change his/her job during last year, has only one residential house, and other income such as Bank FD and Dividends. You can also claim deductions or show incomes, which are not reflected, in your form 16. This package is best for salaried taxpayers who are in their early phase of career. Trained staff will prepare your return with our in house software for error free filing. Each return is also reviewed by an Expert CA to maximize your tax refunds within available tax saving avenues, so you get accurate Income Tax Return filing, Maximum possible refund along with complete peace of mind.
This package is intended for salaried taxpayers who have more then one house or other property. Whether he is receiving rent or not is not important, as any way the person need to show income as rent or deemed rent. As there is more then one property, as per income tax act deemed return has to be showed, which makes filing of return complicated. Further the taxpayer need to file ITR 2 form instead of ITR 1. Our team will file proper return after proper estimation of rent, available deduction to ensure correct and complete return is filed, At the same time maximum possible tax saving benefit is extended to client.
If you have switched job last year, then your Income tax return this year will reflect two form 16 , One from last employer and one from current, Further tax deduction will also be inadequate. This additional information make filing return complicated, our experts can help to ascertain proper tax calculation and correct return filing for you. Kindly note some people just show one form 16 and ignore last employers form 16 which is wrong and can land you in tussle with Income tax department. Our Experts will ensure proper IT return is filed to get complete peace of mind and avoid any notices and scrutiny in future.
Are you a salaried person who has bought or sold Property during last year? If answer is yes then this package is just for you. You need to report this transaction while filing your Income tax return. Further you need to incorporate transaction details and calculate long term or Short term capital gain in case you have sold property last year. There are number of tax deductions are also available to save you tax on property sale. Our team will check and recommend you the best course of action. As property is a high value transaction you should avoid filing a wrong IT return as it will surely invite a tax notice from income tax department and even you can end up paying penalty. Hence it is advised not to resort to trial and error can be method for IT Return filing, you can trust our team to advise and file a proper way to file return.
Are you an employee whose organization has announced ESOP or allotted in last year? Or you have sold shares last year, which was allotted to you as ESOP?
If you are falling under any of the above-mentioned condition, then you must consult a CA and file your return properly. Our Team can guide you for all tax related recursions and can file a correct income tax return.
If you are a salaried taxpayer and also has dealt in shares or Mutual funds in last year or you have sold shares or mutual funds previously acquired?
Then you must consult an expert before filing your IT return. It will help you to properly classify your transactions and report while filing income tax return. Our package is intended for such taxpayers who has done share and mutual fund related transactions in last year.
What is ITR 1?
It is income tax return form filed by salaried taxpayers, For Tax payers who has capital gain or have more then 2 houses should file their income tax return in ITR 2 Form.
If my Employer is paying me salary after deducting tax, do I still need to file return?
Yes, Deduction of TDS and Filing of Income tax return is two different things. While it is your employers responsibility to deduct TDS from your salary at an average rate before making payment to you. It is your responsibility to properly calculate and file a correct return to IT Department each year. Don’t be under impression that once TDS is deducted, you need not to file IT return.
Who is responsible for filing Income tax return?
Actually it is the person, who is earning the income is responsible to file return not thee person who is paying it. For example if you are a salaried person then you are responsible to calculate and pay your proper taxes, not your employers. In some case people get confused with deduction of TDS with filing of return, While Deduction of TDS, payment and Filing of return is employers responsibility, Filing of income tax return is Employees responsibility.
I forget to submit details of my tax saving to my employer. What should I do now?
You can still claim the deductions by filing IT return and can get refund of extra income tax paid by you. We can help you to calculate and file return properly to get your refund faster.
I changed my job last year, how should I file my IT return?
You need to show both of your form 16 and file IT return by combining data from both the form. You need to consult an CA to file it correctly, as merging two forms and calculation of deduction can be complicated.
Should I show only current form 16 and don’t show from last employer?
Many Employees do that to not to pay taxes, however never try that it can be a costly affair. Many Employees feel if they hide the last form 16, Department will never come to know. However when your last employer will file their TDS return it will clearly show your PAN number along with amount paid to you. Hence Department easily can find that you have purposely hidden the income. In such case they can send you notice and impose penalty ranging from 100 %to 300%. So suppose your tried to save 1 lakh Rs as tax, But in case of penalty you will end up paying 4 lakhs i.e. 1 Lakh tax and 3 lakh penalty.
Hence never try to hide the fact instead you can save more taxes by tax planning legally.
Why there is huge tax is showing when I am filing both of my form 16 after a job change?
This happens when you don’t inform your current employer about your last employers earning, then the tax deduction by your current employer is done only on the basis of salary paid by them, Further sometime you get double deduction on your tax saving. Hence when you merge both there are chances you will end up paying huge tax. To avoid when you join the new company you should submit previous earning details along with proposed tax saving.
What are consequences of not filing Income tax return?
If you have not filed return despite you are liable to file return, You can be charged to pay interest on due tax amount and also liable for Rs/- 5000 penalty u/s 271F. In case you have received a notice from Income Tax department then it has to be filed within the time line given then you can also face harsh penalty along with imprisonment.
What is the Last date to file Income tax return Online?
1) For Persons liable for Audit Due date is 31st September of Assessment year.
2) For other persons it 31st July of Assessment Year.
What is tax on ESOP?
ESOPs are charged at two stages, once when it is allotted and once it is sold. On allotment the difference between market price and allotment price is treated as salary income. At the time of final sale the difference between purchase cost and sale is treated as Long term or short-term capital.
Why should I seek professional help to file Share transaction related return?
When you are dealing in shares then tax part need to be decided on the basis whether you are trading or investing. If your are trading then the taxability will be completely different as compared to taxability of an investor. Further each transaction needs to be classified.
Who can file income tax return for salaried taxpayers?
Tax return can be filed by tax payer himself, by any CA, Tax consultant, Tax return preparer, IT filing agents, or IT filing consultants, who has knowledge and experience about a proper and accurate return filing. In Income tax act, it has left on taxpayer to choose self-filing or take services of other Income tax consultants.
Is it always required to file return through Tax Consultants or Tax return preparer?
No there is no such requirement in Income Tax Act 1961, It completely depends on tax payer. If taxpayer is well versed with applicable tax laws and related implication. He can choose to file himself. However if taxpayer is not well versed or not up to date with latest changes in Income tax law, He should better to take professional assistance to file his return. Rather then filing a wrong return and get a notice. He can appoint a CA firm, Tax Consultant, Income tax consultant or Tax return preparer for it. However if he has some special transactions such a property, or shares then it is always good to trust expert firms like AKT Associates, who has in house CA and experts along with in-house software to file correct return along with best possible tax saving for you.
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