IT Return

IT Return with Bizhub

Individuals and businesses both have to pay taxes on their earnings. The central government levies and collects income tax, which is a tax levied on a person’s earnings.

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    What is Income Tax Return Filing?

    Individuals and businesses both have to pay taxes on their earnings. The central government levies and collects income tax, which is a tax levied on a person’s earnings. The tax on earned income is due in the same fiscal year in which it was accrued in the form of advance tax. However, the Assessment Year provides notification and calculation of income as well as tax liability. Income Tax Return is the name of the notification form. Depending on the criteria, different taxpayers have different forms and time limits for filing ITRs.

    The user experience for Income Tax Return forms has recently been improved. However, it is clear from these new or modified schedules that taxpayers must prove their claim of expenses, exemptions, and deductions. As a result, online income tax return filing necessitates the assistance of experienced professionals to ensure that your return is filed correctly.

    An income tax return is a document on which taxpayers must declare their taxable income from all sources, as well as any eligible deductions and tax payments. This is referred to as the ITR Filing Procedure.

    You are entitled to an income tax refund if you have paid more taxes than are “payable.” If the situation is the opposite, you should pay the remaining balance before filing your tax return. TDS or Advance Tax is paid by you in cases where more taxes have been paid in advance. In this case, you should report accurate earnings and taxes on your tax returns.

    Income tax return forms range from ITR 1 to ITR 7, and are used for various types of income and entities. There are various disclosure requirements depending on the type of forms.

    In India, ITR filing is done entirely online and without the use of paper. You do not need to submit a paper return to your local income tax office. All documents must be submitted online, if at all possible. Regardless of the Accounting Year used, an income tax return must be filed for a specific Financial Year (i.e. April to March).

    ITR filing Process

    Day 1 - Collection

    Discussion and collection of basic Information

    Consultancy for appropriate ITR form

    Collection of required documents

    Day 2 - Execution

    Computation of payable Income Tax

    Day 3 - Submission and Acknowledgement

    Online filing of income tax return

    Sharing ITR Acknowledgment

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    Note Down the Documents Required to File Income Tax Return

    For Salaried Person

    PAN Card
    Bank Statement with IFSC for the complete financial year
    Aadhaar Card
    Email ID and Aadhaar linked mobile no.
    For Other Assesses
    PAN Card
    Revenue & Expenditure Detail (Financial Statements)
    Detail of property purchased & sold (if any)
    Bank Statement for the complete financial year

    File ITR in 3 Easy Steps

    1. Answer Quick Questions
    • Pick a Package that best fit your requirements
    • It takes less than 5 minutes to fill in our Questionnaires
    • Provide basic details & documents required for registration
    • Make payment through secured payment gateways
    1. Experts are Here to Help
    • Assigned Relationship Manager
    • CA assisted ITR filing
    • Computation of Income Tax payable
    • Online filing of Income Tax Return
    • Acknowledgement of ITR filed
    1. Your ITR is Filed
    • All it takes is 2-3 working days*

      *Subject to Government Processing Time

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    Benefits of Income Tax Return Filing

    Allows losses to be carried forward

    Most businesses experience losses in their early years. If an ITR is filed, a business loss or capital loss can be carried forward for up to 8 years. This loss can also be offset against future earnings, lowering future taxable income. The taxpayer loses this benefit if an ITR is not filed.

    Define financial worth

    The taxpayer’s financial worth is determined by the ITR filed with the government. The ITR track demonstrates financial capability while also increasing a person’s capital base. As a result, the previously filed ITR determines the track of income and financial worth. Investors and institutions await the filing of returns in order to determine the business’s capacity.

    Loan processing and high-risk insurance

    The income tax return’s numbers and capital base are useful for loan processing. The higher the financial worth, the easier it is to get a loan. The same is true for high-risk insurance. In this regard, the ITR is an important document to consider.

    Claim a refund of TDS deducted from your salary

    Salaried employees receive their pay after TDS has been deducted. It’s possible that the tax liability after eligible deductions is less than the amount of TDS actually deducted. In such cases, the excess payment can only be claimed as a refund if the person files an ITR.

    FAQs On Income Tax Returns

    You need not worry about the same. You may still file your return. Please get in touch with us and we will do the rest. File your ITR 1 online for 2021-22 with BizHub at affordable prices

    All the books of account and related documents should be kept at the main place of business, i.e., where the business or profession is generally carried on. These documents should be preserved for a minimum of eight financial years.

    Form 26 AS is consolidated tax statement (Form 26AS) is used as a proof of tax deducted/collected on your behalf and the tax directly paid by you along with your income tax return.

    Due date of investment under section 80C has been extended to 30th June 2020. This is for Financial Year 2019-20. Earlier date was 31st March 2020. Read more on extension on other due dates amid Corona outbreak as announcements made by Nirmala Sitharaman Press Conference.

    ITR-V is a 1-page acknowledgment summary document that you receive after e-filing your income tax return. You must print, sign and send it to the Income Tax Department within 120 days from e-filing your tax return as a verification. However, you may also Verify using Aadhar or net banking. If you have filed using your DSC, none of the verifications will be required.

    Income tax returns are completely paperless filing procedures now. You need not submit any physical or scan copies along with your returns. However, you should retain these documents so that you can produce those when demanded by tax authorities.

    Amounts paid as advance tax and withheld in the form of TDS or collected in the form of TCS will take the character of your tax due only on completion of self-assessment of your income. This self-assessment is intimated to the department by way of filing of a return. Only then does the government acquire rights over the prepaid taxes as its own revenue. Filing of return is critical for this process and, hence, has been made mandatory. Failure will attract a levy of penalty.

    No. Return is to be filed only if you have taxable income.

    Yes, you don’t have to worry about the same. Return can be revised within a period of one year from the end of the relevant assessment year or before completion of the assessment whichever is earlier. Get in touch with us to quickly file a revised return.

    BizHub provides Income Tax Return all across India. You can obtain Income Tax Return in Ahmedabad, Mumbai, Pune, Bangalore, Chennai, Delhi, Kolkata, Kanpur, Nagpur, Jaipur or any other cities easily with us.

    Don’t worry!! Our expert will help you to choose a best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at ……………………………..


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      IT Returns Packages

      Standard Package

      I Year IT Filing of a Salaried Individual

      Forrtuna Bizhub Price: 849
      (Including Government Fee)
      Gst: 153
      Total Price: 1002
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      IT Return Packages

      Premium Package

      I Year IT Filing of a Non-audit assessee

      Forrtuna Bizhub Price: 1999
      (Including Government Fee)
      Gst: 360
      Total Price: 2359
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