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Income tax is tax levied on the income of a person by the government as per the provisions in the Income Tax Act, 1961. It is levied on the income earned during the year starting from the financial year, 1st April ending on 31st march.

An Income tax Return is a statement of Income earned to calculate tax liability and payment or refund of taxes to the government. Thus the purpose of filing the return is to report our income and taxes paid to the government.

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ESI returns are to be filed twice a year. It can be done through the ESIC’s online portal: Here are the steps involved:

  1. The login credentials are essential for filing returns through the ESIC portal i.e. the log in ID and Password.
  2. After entering the portal, a list of actions can be performed or additions to be made to the employer’s ESI account such as updating employee details or reporting an accident, etc.
  3. Click on the tab ‘File Monthly Returns’. Before filing monthly contributions, the employer must ensure that the employee details are updated.
  4. Enter the bank details and file the monthly ESI contribution.
  5. After the payment of the contributions, click on ‘Generate challan’, a challan for the payment received is then generated. It is an essential document must be filed for inspection.

FEATURES

Register online:

To e-file, the income tax returns, register on the Income Tax Department’s online tax filing site (incometaxindiaefiling.gov.in). Provide permanent account number (PAN), name and date of birth and choose a password.

The PAN will then act as a user ID.

Choose the required form:

Form ITR-1 (SAHAJ)is for individuals having income from salaries, one house property and other sources like interest.

Form ITR 4 is for individuals and Hindu Undivided Families having income from a proprietary business or profession, also used by proprietorship firms.

Form ITR 5 is used by most partnership firms as it is intended for persons other than individuals, Hindu Undivided Families, companies and person filing Form ITR-7.

Form ITR 6  is used by companies like one person company, private limited company, public limited company and other for-profit companies.

Form ITR 7 is used by persons, political parties, news agencies, universities and entities in receipt of income from property held under trust for charitable or religious purposes.

Documents required:

PAN, Form 16, interest statements, TDS certificates, details of investments, insurance, and home loans.

Download Form 26AS, that summarizes tax paid against PAN. Validate the tax return with Form 26AS to check tax liability.

Fill form online or fill form offline & then upload on the site.

Verify ITR-V:

On submitting the ITR form, an acknowledgment number is generated. In case the return is submitted using a digital signature, just preserve this number.

If the return is submitted without a digital signature, an ITR-V is generated and the same is sent to the registered email ID.

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FAQ's

In order to file your income tax return we will generally require:

  • PAN Card
  • Aadhar Card
  • Form 16 (if you are salaried)
  • Bank Account Details
  • Proof of Investments etc. (like LIC, ELSS, etc.)
  • Details of other sources of income (rent income, capital gains, freelancing, etc.)

Please don’t worry if you don’t have this information; we will guide you step by step.

Yes absolutely! We cater to NRIs, freelancers and consultants with seamless and accurate tax return filing. No matter if you are earning from abroad, being contracted, or have multiple sources of income, we will ensure that your return is filed, and every exemption is claimed.

Yes, of course! Even if you have missed the ITR filing deadline, you can still file a belated income tax return. You may have to pay penalties, and you will not fall under certain benefits, including carrying forward losses. We will review your case holistically and tell you the best possible way forward.

Our fees are transparent and depend on the complexity of your income. For salaried individuals, it usually starts at an affordable rate. If you have multiple income streams or are an NRI or business owner, we’ll provide a fair quote after understanding your needs. Get in touch for a quick consultation.

If you file your ITR late, you may incur penalties of up to ₹5,000, depending on your income. You may lose interest in refunds and the right to carry forward certain losses, however, don’t panic, our income tax return filing specialists can file your return quickly and minimize the damages wherever possible.