income tax return -

ITR for Business

Every company, regardless of their business activities during a financial year, have to file their income tax* returns, even if they have suffered a loss. Partnership firms file a NIL income tax* return before the due date.

Interest and Dividend Income declaration.
Claim of tax savings investment - If any
Rental Income from single-house property.
Tax Due/Refund Status and Filing Confirmation
Get a dedicated relationship manager during service fulfillment.
Expert Assisted Tax Filing.

File ITR for Businesses?

PAN of the Society was registered on the Income Tax Site as an AOP. However, it is not clear to me as to which form (ITR 5 or 7) is required to be used for filing return of the Society. Also, kindly tell whether the fact that Accounts were audited is material in choosing from amongst the two forms.

Gather Documents: Collect the documents mentioned previously, including financial statements, bank statements, tax challans, and any relevant business registration details..

Choose the ITR Form: the specific Income Tax Return (ITR) form you need depends on your business structure (proprietorship, partnership, company, etc.). Choosing the right ITR form depends on your business type and income.

Prepare the ITR Form: Carefully fill out the chosen ITR form, accurately reflecting your business income, expenses, deductions, and tax liabilities. Utilize your financial statements and supporting documents for accurate reporting.

E-filing is Preferred: he Income Tax Department encourages electronic filing (e-filing) of ITRs. You can e-file your ITR through the official department website or authorized e-filing portals.

Verification and Submission: Once you’ve completed the ITR form, digitally verify it using your Aadhaar or other authorized methods. Finally, submit the verified ITR electronically through the chosen platform.

Payment of Tax Dues: Before submitting your ITR, ensure you’ve paid any outstanding advance tax or self-assessment tax. Keep copies of challans as proof of payment..

SERVICES INCLUDE

Reporting business income during return filing is critical to avoid any tax non-compliance. At the end of the year, businesses struggle to get their accounts in order. This premium ITR filing plan is designed to provide you with professional help in preparing financial statements and filing .

Tax filing for business owner with turnover more than Rs 1 Cr during year or professionals/ freelancers with receipts more than Rs 50 lakhs during year - When tax audit is applicable.

Interest and Dividend Income declaration.

Claim of tax savings investment - If any

Rental Income from single-house property.

Tax Due/Refund Status and Filing Confirmation.