SELECT YOUR INCOME PLAN

Plan 1

Salary and Rental Income

Rs. 399/-

Cover income from

  • Salary (Single form 16)
  • Rent
  • Dividends (below 10 lakh)

Plan 2

Salary and Rental Income

Rs. 999/-

Cover income from

  • Salary (Multiple form 16)

  • Rent (Multiple source)

  • Dividends (above 10 lakh)

  • Director in company

  • Partner in partnership firm

Plan 3

Capital Gain Income

Rs. 1999/-

Cover income from

  • Everything In Plan 1

  • Capital gain from Sale of stocks, mutual fund & property

  • Gain from lottery and gamming

Plan 4

Professional or freelance income

Rs. 2499/-

Cover income from

  • Everything in Plan 1

  • Income from profession like Doctors, advocate and small businesses

  • Gross receipts less than Rs. 50 lacs for professional

  • Turnover less than Rs. 2 Cr for businesses

Plan 5

Professional or freelance income

Rs. 4999/-

Cover income from

  • Income from profession like Doctors, advocate and small businesses

  • Gross receipts Rs. 50 lacs to 2 Cr for professional

  • Turnover Rs. 2 Cr to  5 Cr for businesses

  • Transaction upto 500.

  • Preparation of Profit and loss account and Balance sheet

Plan 6

Security trader

Rs. 4999/-

Cover income from

  • Future or option trading

  • Preparation of P & L and Balance sheet.

  • Audit fees and DSC fees not Included

Taxes are sources of revenue for the government. Taxes are mainly of two types, direct taxes and indirect form of taxes. Tax levied directly on the income earned is called as direct tax, for example Income tax is a direct tax.

Income tax is a type of tax that the central government charges on the income earned during a financial year by the individuals and businesses. The tax calculation is based on the income slab rates applicable during that financial year.

Income Tax Return (ITR) is a form which a person is supposed to submit to the Income Tax Department of India. It is very important to file income tax return (ITR) on or before the due date with complete and accurate information about income and other information asked to fill in the ITR form. Incomplete ITR details or inaccurate information may lead to an ITR being treated as invalid or even imposition of a penalty on the assessee.

It contains information about the person’s income and the taxes to be paid on it during the year. Information filed in ITR should pertain to a previous financial year.

Income can be of various heads such as :
> Income from salary
> Income from house property
> Profits and gains from business and profession
> Income from capital gains
> Income from other sources such as Interest, Dividend etc.

In this case, there may be the chance of making mistakes i.e. filing ITR with incomplete and /or inaccurate information asked by the Income Tax Department. Therefore, in order to maintain the accuracy and completeness of the information asked by the Income Tax Department in the applicable ITR form, an individual should keep all the required documents handy in advance and be ready with up-to-date information. There are various essential things described below that individuals should keep in mind while filing an ITR.

Efiling of Income tax return (ITR) can filed on https://eportal.incometax.gov.in/iec/foservices/#/login 

Or you can take our services for e file income tax filing. For more details click below link
https://incometaxwala.com/file-tax-return/#

 

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