Online File Tax Return (Assisted)

Online File Tax Return (Assisted).

@ ₹749* ₹1249 Only/-(GST as applicable)

@ ₹749* ₹1249 Only/-
(GST as applicable).

(For Individual & Businesses)

Optimize Your Tax Filing Experience With Us

Efficiency: File Your Tax Return (ITR) in just 30 Minutes.

Expert Assistance: Tax Return filing by Certified CA/Experts.

Tax Optimization: Benefit from personalized suggestions to reduce tax liability.

Tax Saving Tips: Explore the Best Tax Saving Options tailored to your financial profile.

Dedicated Support: Enjoy dedicated customer support for all your queries and concerns.

Professional Team: Rely on our Expert Tax Filing Team for accurate and efficient filing.

Stay Updated: File Updated Returns for the Last 3 Years hassle-free.

Experience seamless and swift tax filing with our expert team by your side.

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I always took service's from Taxring. They are very dedicated for their work & services and also their staff are very professional in their work so I will highly recommend to everyone for talking services regarding ITR & GST

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I availed services from taxring it's convenient and easy process of tax filing and also all staff are professional. Finally I recommend to every one to use taxring services.
 

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File Tax Return (CA-Assisted)

(Limited Period Offer)

Essential Documents for Seamless Tax Filing

Ensure a smooth tax filing process by gathering the necessary documents beforehand. Here's a comprehensive list of documents required for tax filing:

For Individual

  • Pan Card
  • Aadhar card
  • Bank Account & IFSC
  • Form-16/16A
  • Bank Statement
  • Investments (i.e., 80C 80D)
  • Share Trading (P&L)
 

For Businesses

  • Pan Card (Firm)
  • Aadhar card
  • Firm’s Bank Account & IFSC
  • Bank Statement
  • Investments (i.e., 80C 80D)
  • Fixed Assets Ledger
  • Sales Ledger
  • Purchase Ledger
  • Expenses Details
  • Last year Balance Sheet
  • Share Trading (P&L)

By ensuring you have all these documents in order, you can expedite the tax filing process and minimize the likelihood of errors or omissions.

Streamlined Tax Filing Process: Simplified Steps

Experience a hassle-free tax filing journey with our 100% digital process. Follow these optimized steps to file your taxes efficiently:

  • Choose Your Tax Filing Package:

    Select the tax filing package that suits your needs and preferences.

  • Fill Income Tax Filing Form:

    Complete the income tax filing form with your relevant financial information.

  • Upload Required Documents:

    Easily upload the necessary documents to support your tax filing.

  • Make Online Payment:

    Securely complete your payment online for the chosen tax filing package.

  • Review Your Tax Filing Documents:

    Take a moment to review all your tax filing documents for accuracy and completeness.

  • Provide Tax Return Draft Before Filing:

    We'll provide you with a tax return draft for your review before finalizing the filing.

  • Tax Optimization for Maximum Refund:

    Our experts will assist in optimizing your tax filing to minimize liability and maximize refunds.

  • Assistance with Tax Payments:

    If you owe taxes, we'll guide you through the payment process seamlessly.

  • Expert Guidance and Verification:

    Expect a call from our tax filing experts for any additional details or documents required. We'll also assist with OTPs for verification or password reset.

  • ITR-V (Acknowledgement) Sent to Registered Email ID:

    Upon successful filing, the ITR-V acknowledgment will be promptly sent to your registered email ID.

By following these streamlined steps, you can navigate the tax filing process with ease and confidence, ensuring compliance and maximizing your returns.

file itr

Our Distinctive Features & Expertise

Explore the unique advantages and specialized Tax services we offer:

Income tax efilling
  • Experienced Dedicated Team:

    Benefit from our seasoned and dedicated team of professionals, equipped with extensive expertise and knowledge to cater to your specific tax needs.

  • Nominal Fees:

    Enjoy cost-effective solutions with our nominal fee structure, ensuring affordability without compromising on quality service delivery.

  • Real-time Service Delivery:

    Experience prompt and efficient service delivery in real-time, ensuring swift processing and timely completion of your tax filing requirements.

  • Comprehensive Customer Support:

    Access full-year customer support, providing assistance and guidance whenever you need it, ensuring a seamless and hassle-free experience throughout your tax journey.

With our commitment to excellence and tailored services, rest assured that your tax concerns are in capable hand.

Simplified Income Tax Return (ITR) Filing Process in India

In India, Income Tax Returns (ITRs) play a pivotal role in the financial landscape, serving as comprehensive documents filed by individuals, businesses, and entities with the Income Tax Department. This filing is essential to report income, claim deductions, and compute tax liabilities for a specific financial year, as per the directives of the Income Tax Act, 1961.

Key Aspects of Tax Return Filing:

1.Income Reporting: Taxpayers must diligently report all income sources for the financial year, including earnings from salaries, house property, capital gains, business/profession, and ancillary avenues such as interest, dividends, and rental income.

2.Deduction Claims: To optimize tax liabilities, taxpayers can leverage deductions provided under various sections of the Income Tax Act. Common deductions include investments in Provident Fund (PF), Public Provident Fund (PPF), Equity Linked Savings Scheme (ELSS), life insurance premiums, tuition fees, home loan interest, and medical insurance premiums.

3.Tax Liability Calculation: Based on reported income and claimed deductions, taxpayers meticulously compute their taxable income and ascertain the tax payable to the government. Tax rates and slabs vary across different taxpayer categories, as stipulated in the Income Tax Act.

4.Filing Process: Tax returns can be conveniently filed online via the Income Tax Department s e-filing portal or offline by submitting physical copies to designated tax offices. Filing deadlines typically fall on July 31st of the assessment year, subject to variations based on taxpayer categories and income sources.

5.Verification and Acknowledgment: Post-filing, taxpayers undergo a stringent verification process to confirm their identity and the accuracy of provided information. Verification methods include Aadhaar-based OTP, net banking, or submitting signed physical copies of the ITR-V (Acknowledgment) to the Centralized Processing Center (CPC) within 120 days of e-filing.

6.Assessment and Processing: Following filing and verification, the Income Tax Department meticulously processes returns to assess taxpayers' income and tax liabilities. Any discrepancies or adjustments may prompt the issuance of intimation or notices to taxpayers, ensuring compliance and rectification where necessary.

Importance of Tax Return Filing

Filing income tax returns is paramount for tax compliance in India, fostering transparency and accountability within the financial ecosystem. Non-compliance, such as failure to file returns or adhere to tax laws, can result in penalties, fines, or legal repercussions. Hence, it is imperative for taxpayers to file returns accurately and punctually, seeking professional assistance when necessary to ensure seamless compliance with prevailing tax regulations.

Conclusion

By embracing the intricacies of income tax return filing and adhering to prescribed norms, taxpayers contribute to a robust tax ecosystem, bolstering economic stability and governance. Proper filing practices not only facilitate compliance but also nurture trust and efficiency within the tax administration framework, fostering a conducive environment for sustainable growth and development.

Income tax return filing is an essential part of the tax compliance process in India, and failure to file returns or comply with tax laws may result in penalties, fines, or other legal consequences. It’s important for taxpayers to file their returns accurately and on time, and to seek professional advice if needed to ensure compliance with tax laws and regulations.

TYPE OF InCOME TAX FILING FORM in India

Income tax returns (ITR) in India come in various forms, tailored to the diverse nature of income, sources, and taxpayer profiles. Each ITR serves a distinct purpose, catering to different categories of taxpayers. Let's delve into the types of Indian income tax returns and their respective applications.

ITR-1 (SAHAJ): Designed for individuals with income from salaries, one house property, and other sources (excluding lottery winnings and racehorses). Ideal for salaried individuals, pensioners, and small taxpayers with total income up to Rs. 50 lakhs.

Uses: Suitable for salaried individuals, pensioners, and small taxpayers with income from limited sources.

ITR-2: Applicable to individuals and Hindu Undivided Families (HUFs) without income from profits and gains of business or profession. Suited for those with income from multiple sources like salary, house property, capital gains, and others, excluding business or profession engagement.

Uses: Applicable for individuals and HUFs with income from multiple sources like salary, house property, capital gains, and other sources, but not engaged in business or profession.

ITR-3: Tailored for individuals and HUFs deriving income from profits and gains of business or profession. Suitable for individuals and HUFs engaged in business or profession, including partnership firms.

Uses: Suitable for individuals and HUFs engaged in business or profession, including partnership firms.

ITR-4 (SUGAM): Intended for individuals, HUFs, and firms (excluding LLP) with income from presumptive business. Recommended for taxpayers opting for presumptive taxation under sections 44AD, 44ADA, or 44AE of the Income Tax Act, such as small businesses, professionals, and commission agents.

Uses: Applicable for taxpayers opting for the presumptive taxation scheme under sections 44AD, 44ADA, or 44AE of the Income Tax Act, such as small businesses, professionals, and commission agents.

ITR-5: Designed for entities other than individuals, HUFs, companies, and persons filing Form ITR-7. Suitable for partnership firms, LLPs, AOPs (Association of Persons), BOIs (Body of Individuals), and artificial juridical persons.

Uses: Suitable for partnership firms, LLPs, AOPs (Association of Persons), BOIs (Body of Individuals), and artificial juridical persons.

ITR-6: Tailored for companies other than those claiming exemption under section 11 (Income from property held for charitable or religious purposes). Applicable for all companies except those exempted under section 11, such as private limited companies, public limited companies, and foreign companies.

Uses: Applicable for all companies except those claiming exemption under section 11, such as private limited companies, public limited companies, and foreign companies.

ITR-7: Intended for entities, including companies, required to furnish returns under specified sections of the Income Tax Act. Suitable for trusts, political parties, colleges, and scientific research organizations mandated to file returns under specific provisions. By understanding the nuances of each ITR form, taxpayers can effectively navigate the income tax filing process, ensuring compliance and optimizing tax obligations.

Uses: Suitable for entities including trusts, political parties, colleges, and scientific research organizations required to file returns under specific provisions of the Income Tax Act.

Income tax Filling Asked Questions (FAQs)

Explore common queries and clarifications regarding income tax filing:

  • Q: What is a Return of Income?

    Ans:A Return of Income, abbreviated as ITR, is a prescribed form utilized to communicate details of income earned during a financial year and taxes paid to the Income-tax Department. It facilitates the carry-forward of losses and allows individuals to claim refunds from the income tax department. Various forms of returns of income cater to different statuses and natures of income.

  • Ans:According to income tax laws, filing income tax returns is obligatory for individuals whose total income during the financial year exceeds the basic exemption limit, which is more than ? 2,50,000 under the old regime or ? 3,00,000 under the new regime. Failure to file returns may result in penalties.

  • Ans:ITR-1 can be filed by a Resident Individual whose total income does not exceed ? 50 lakh during the financial year. This form is suitable for individuals with income from salary, one house property, family pension income, agricultural income (up to ?5000/-), and other sources as specified.

  • Ans: Yes, it is mandatory to define the nature of employment while filing a return. Individuals must specify their employment nature from options including Central Government Employee, State Government Employee, Employee of Public Sector Enterprise (Central or State Government), Pensioners, Employee of Private Sector concern, or Not applicable (in case of family pension income).

  • Ans:While filing ITR-1, essential documents include Form 16, house rent receipt (if applicable), and investment payment premium receipts (if applicable). Remember, ITRs are annexure-less forms, so no attachments are required. However, keep these documents handy for any future requirements.

  • Ans:To ensure a smooth filing experience, download AIS and Form 26AS to reconcile TDS, compile and study relevant documents, verify pre-filled data, select the correct return form, file before the due date, and e-verify your return promptly.

  • Ans: Individuals residing in India with a total income of up to Rs 50 lakh may file ITR-1. This form is suitable for those earning from a job, a home, or other sources. Note that NRIs cannot file ITR-1 and may use Form 16 for filing ITRs.

  • Ans:The capital gains tax is levied on the profit made by selling an investment. The long-term capital gains tax rates for the 2022 and 2023 tax years vary based on income brackets. Investors owe long-term capital gains tax on profits from investments owned for at least one year.

  • Ans: E-Filing is mandatory in specific cases, such as when total income exceeds Rs. 5,00,000 p.a. or to claim a refund. E-Filing simplifies the process and ensures faster processing of refunds.

  • Ans: You can e-file your return securely and conveniently with our CA-Assisted Plans starting from just Rs. 599, offering a simple and automated platform for filing your Income Tax Return.

  • Ans: Visit the Department e-filing website, select e-filed Returns/Forms from the My Account dropdown, and follow the prompts to choose from available options to e-verify your return.

  • Ans: E-Filing offers a faster, safer, and simpler process compared to offline filing. Additionally, it is mandatory for income exceeding Rs. 5,00,000 in a financial year or for claiming a refund.

  • Ans:The Financial Year is the actual year for which you file your return, while the Assessment Year is the year following the Financial Year. For example, for F.Y. 2022-23, the A.Y. would be 2023-24.

  • Ans: Form 26AS is a statement maintained by the Income Tax Department containing details such as TDS, TCS, Advance Tax, Self-assessment tax, and refunds paid.

  • Ans: Form-16 is a certificate provided by employers showing details of TDS deducted from salary and salary components. It's essential for tax computation.

  • Ans: Yes, an updated return can be filed within 24 months from the end of the relevant assessment year, subject to certain conditions.

  • Ans: Capital gain is the profit earned on the sale of an asset, calculated as the difference between the selling price and purchase price. It is subject to taxation.

With these comprehensive responses, navigate through your tax queries confidently and ensure compliance with income tax regulations.