File Your Income Tax Return(ITR) with our help

 An Income tax return (ITR) is a form used to file information about your income and tax to the Income Tax Department. The tax liability of a taxpayer is calculated based on his or her income. In case the return shows that excess tax has been paid during a year, then the individual will be eligible to receive a refund for same from the Income Tax Department.

As per the income tax laws, the return must be filed every year by an individual or business that earns any income above the threshold limit during a financial year. The income could be in the form of a salary, business profits, and income from house property or earned through dividends, capital gains, interests or other sources. Tax returns have to be filed by an individual or a business before a specified date. If a taxpayer fails to abide by the deadline, he or she has to pay a penalty. 

Benefits of E-Filing:  

1. Faster Refunds:- E-filed refund returns are processed much faster than paper filed returns.   

2. Easy Loan Approvals:- Business loans, Car Loans, Personal Loans, Education Loan etc 

3.  Easily approval of Scholarships for children’s education. 

4.  Visa Application- Visa Application process gets easy. 

• ITR 1 : For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income upto Rs.5 thousand(Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares).
• ITR-2  : For Individuals and HUFs not having income from profits and gains of business or profession.
• ITR-3 : For individuals and HUF having income from Business & Profession.
• ITR-4  : For Individuals, HUFs and Firms (other than LLP) being a Resident having Total Income upto Rs.50 lakhs and having income from Business and Profession which is computed under sections 44AD, 44ADA or 44AE.
• ITR-5 :  For Partnership Firms, Limited Liability, Partnerships (LLPs), Body of Individuals (BOIs), Association of Persons (AOPs), Co-operative Societies, Artificial Judicial Persons, Local Authorities.
• ITR-6 :  For Companies (other than companies or organizations that claim tax exemption as per Section 11)
• ITR-7 : For individuals or companies that are required to submit their returns under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F)