Income Tax Return Filing
File your income tax return with the dedicated Tax Experts supports from Him Consultant.
Introduction
It is mandatory for individuals, NRIs, partnership firms, LLPs, companies, and Trust to file income tax returns each year. Individuals and NRIs are required to file an income tax return if their income exceeds Rs.2.5 lakhs per annum. Proprietorship firms and partnership firms are required income tax return – irrespective of the amount of income or loss. All companies and LLPs are mandatorily required to file an income tax return, irrespective of turnover or profit. Him Consultant provides income tax e-filing services with dedicated Tax Expert support. Upload your Form-16, sit back and relax. Our experts will file your income tax return and provide you the acknowledgment within 1 – 2 business days.
Penalty for Late Filing Income Tax Return
Taxpayers who do not file their income tax return on time are subject to penalty and charged interest on the late payment of income tax. Also, the penalty for late filing income tax return on time has been increased recently. The penalty for late filing income tax return is now as follows:
- Late Filing between 1st August and 31st December – Rs.5000
- Late Filing After 31st December – Rs.10,000
- Penalty if taxable income is less than Rs.5 lakhs – Rs.1000
Due Date
The due date for income tax return filing is 31st July of every year for individual taxpayers. The due date for income tax return filing for companies and taxpayer requiring tax audit is 30th September. Section 44AD of the Income Tax Act deals with tax audit under the Income Tax Act.
Business
In case of a business, tax audit would be required if the total sales turnover or gross receipts in the business exceeds Rs.1 crore in any previous year.
Ordinary Director
Ordinary Director means a simple Director who attends the Board Meetings of a company and participates in the matters put before the Board of Directors. These Directors are neither whole-time Directors or Managing Directors.
Professional
In case of a profession or professional, tax audit would be required if gross receipts in the profession exceed Rs.50 lakhs in any of the previous years.
How We Help in Filing Income Tax Return
Document Collection
One of our Income Tax Expert will collect the necessary information and documents for the preparation of income tax return.
Return Preparation
Based on the documents and information presented, the Expert will prepare your return and send for your approval.
Return Filing
Once the tax return is verified and accepted by you, our Tax expert will file your tax return with the Income Tax Department.
File Income Tax Return
Fill up the form below and our executive will get in touch with you very shortly.
