IT Return filing for Business
Step 1 : Send Documents as provided in Documents list
Step 2 : We will do the calculation and send pro-forma return and Challan for tax payment (If Any)
Step 3 : Approval plus challan received return uploaded and filed.
- Finalized Balance sheet
- Finalized Profit & Loss
- PAN Card Copy
- Address details
- Bank details
- Tax saving details
- Other details as required
Note: – If Balance sheet and Profit & Loss not prepared, we can prepare for you.
- Income Tax filing is mandatory if you have any business income
- If you are holding a Pan card for Partnership, Company or LLP, then IT filing is mandatory even there is no income.
- IT Return required getting Loan of funding
- Required to carry forward business losses.
- 2-5 Working Days
- Best Business IT Return filer team in India
- IT Return is processed for best Tax saving and planning
- Lowest Fees for Business Income Tax Return in India
Income Tax Return filing
Lets Clear The Confusion
What is Income Tax Return filing?
If you have any income from any source earned in India, and that income is above basic exemption limit (Which is now Rs 2.5L per annum) then you need to file an annual income tax return online. That annual information submission is called Income Tax return filing.
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 od income tax return is Employees responsibility.
I am getting payment after getting TDS deducted; do I still need to file return?
TDS deduction and filing of Income tax return is two different aspects, payer does TDS deduction but receiver or earner of income does Income Tax return filing. Hence just because TDS is deducted from the payment made to you, you are not relieved from filing of Income Tax return. Hence Income tax return needs to be filed online.
What is 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. 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?
For Persons liable for Audit Due date is 31st September of Assessment year
For other persons it 31st July of Assessment Year.
Do I need to file return even there is no Income has earned?
If you are running your business Proprietorship then there is no requirement to file Income tax return if income earned is below taxable limit. However the legal status of your business in Partnership, LLP Or Company then mandatory Income tax return need to be filed.
I am A small Business Owner/Professional do I need to prepare accounts?
As per Income Tax Act 1961 and various clarification issued by CBDT (Central Board of Direct Taxes), A Business or Profession need to main accounts if their yearly turnover is exceeding following Limites they need to maintain proper books of Accounts:-
A) Professionals Such as Doctors, Lawyers, CA, CS, who has Gross receipt Exceeding Rs 1.5 Lakh in all 3 years preceding Previous year or expected to increase Rs 1.5 Lakh for New professionals B) For Business Gross Turnover Exceeding Rs 10 Lakh or Gross Profit exceed Rs 1.2 Lakh in any of three Years preceding Financial year
Why AKT Associates
We are handling more than 1500+ successful clients and providing them with services which covers Legal, Technical, Taxation and other business compliance part. That all says a lot on our ways of working and our expertise in the area.
Experience- That Matters
At AKT associates we have been our client’s obvious choice since more than 20 years. For serving you with the best results we use our experience of decades which has exposed us with deep understand
Efficiency-That reflects in everything
With a strong team which comprises of experts with qualification like CA, CS, MBA & LLB and they will all available with the wholesome result, with dedicated customer service team and support staff. We are always there to execute your work efficiently
Cost- That saves a Lot
We touch the top position not just because we are the best in what we do but also because we know the value of your time and money. We know the value of your time so all the work by AKT Associates is performed on time and at around 70% less cost in comparison to all the other leading firms of the market that too without compromising on the quality aspect.
Conveniences-That says a Lot
The services of the firm are performed and delivered by using the cutting edge technology which makes the AKT Associates always available & deliver services right in your email. So it doesn’t matter where you are because we are always at your finger tips.