Income Tax Return

Saving Package Start:-

File your Income Tax Return with our Experts Individual having only Salary Income with Form 16 : Rs. 399/- Individuals having only Salary income with multiple Form-16 (who has switched job during the financial year):- Rs. 499/- Individuals having only Salary income & house rental income:- Rs. 599/- Individuals having only Salary income, house rental income and Capital Gain :- Rs. 999/- & onwards

Income from Business and Profession under Presumptive Scheme:-

Income Tax Return under Presumptive Scheme (ITR-4S) Rs. 999/- & onwards

Income Tax Return for Non-Resident:-

Income Tax Return (ITR-2) Rs. 999/- & onwards

Income from Business and Profession:-

Income Tax Return in ITR Form -3 Rs. 1,499/- & onwards Income Tax Return for Partnership Firm / LLP / Society / BOI / Company ITR Form-5 for Partnership Firm/LLP/Society/BOI Rs. 4,999/- & Onwards ITR Form- 6 for Private Limited Company & One Person Company Rs. 9,999/- & Onwards

Our Expert team of Chartered Accountants, Company Secretary and Advocates will contact to you for more details to calculate your tax and E-file your tax return on your behalf.

Why Income Tax Return?

Irrespective of whether you live in India currently or not, filing an income tax return is compulsory, if your total Indian income exceeds Rs.2,50,000.

It is a good practice to file or E-file your income tax return if your income is less than Rs. 2,50,000/-. An income tax return is an important document to take home loan, Business Loan, Personal Loan, etc. An income tax return reflect your income and a proof of income financial prosperity and shows your capacity to repay a loan.

If you are making a plan to go abroad for higher studies or to take up a job outside of India, then you will need at least three years' filed income tax returns to show as proof of income.

Required Details for Filing income tax returns

  • Need Basic information such as PAN, Aadhar card number, and current address.
  • Details about all the bank accounts you've held in the given financial year. This is a mandatory disclosure you must make for e filing your income tax returns.
  • Details about your income from salary, fixed deposits, savings bank account, Business Income, etc.
  • Information regarding all the deductions you've claimed under Section 80.
  • Need to produce tax payment information such as TDS and advance tax payments.

ITR-1 Form Filing - Income Tax Return

ITR-1 SAHAJ form is the mostly used for those Individuals, who have their income within   ₹ 50 Lakhs. This form can be used for those individuals having Salary or Pension, only one House Property and other sources income excluding lottery, racehorses, legal gambling etc are eligible to file their IT Return using ITR-1.

ITR-2 Form Filing - Income Tax Return

The ITR-2 Form can be filed by Indian citizens, as well as Non Residents to file their Tax Returns with the Income Tax Department of India. Individuals who are not eligible to use ITR-1 can use the ITR-2 Form.

Individuals and Hindu Undivided Families who have their Income for the Financial Year through Salary or Pension, Income from Capital Gains, more than one House Property, Income from foreign assets/Income, Income from business or profession as a partner (not proprietor) and other sources including lottery, racehorses, legal gambling are eligible to file ITR Form-2. Individuals whose income exceeding ₹ 50 Lakhs, also need to file using ITR-2.

ITR-3 Form Filing - Income Tax Return

The ITR-3 Form is only for those Individuals and Hindu Undivided Families who have income from Proprietary business or from a profession.

If an Individual/HUF earn his income as a partner of a partnership firm then he need to file ITR-2 instead of ITR-3.

ITR-4 SUGAM Form Filing - Income Tax Return

The ITR-4 Form can be used by those Individuals and Hindu Undivided Families who are operating a business having the turnover of less than ₹ 2 Crores and Professionals having the gross receipts less than ₹ 50 Lakhs.

ITR-4 can be filed under the presumptive income scheme as per Section 44AD, Sec 44ADA and Section 44AE of the Income Tax Act. Companies cannot file ITR-4 as it is applicable only for individuals / HUFs and Professionals. Companies need to file ITR-6 or ITR-7 based on applicability.

ITR-5 Form Filing - Income Tax Return

ITR-5 Form can be used by Partnership Firms, Limited Liability Partnerships(LLPs), Association of persons(AOPs) and Body of Individuals(BOIs), Artificial Juridical Person, Cooperative society and Local authority, provided they are not required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or 139(4D) (i.e., Trusts, Political party, Institutions, Colleges, etc.).

Individuals, HUFs (Hindu Undivided Families), Companies cannot use the ITR-5 Form.

ITR-6 Form Filing - Income Tax Return

ITR-6 Form can be used only by Companies. Only companies that are not claiming exemption under section 11 (Income from property held for charitable or religious purposes) can use the form to file their Tax Returns with the Income Tax Department of India.