In India, filing a business income tax return is an annual process in which businesses declare the income earned during a financial year to the income department. With Mind your tax businesses, professionals and freelancers file their income tax easily. Our tax experts submit your tax in the right manner and on time, thus saving your money and keeping you away from the tax penalties.We assist you with Income Tax Returns filing for Business and Private Limited Companies. We tailored our approach to your requirement.
We offer comprehensive Income Tax Return Filing for Private Limited Company and other Businesses. Whether you are running a small business or a large-scale professional, we provide you personalised assistance and timely submission.With tailored packages for all types of turnover points, our team ensures compliance, maximises savings and simplifies the entire filing process.
In this process you have to fill a form that enables you to declare the taxes paid for the current year as per your income slab. There are seven different ITR forms in this, like ITR1, ITR2, ITR3, ITR4, ITR5, ITR6, ITR7. This ITR filing plan has been designed to provide you professional help in preparing financial statements and filing professional ITR.
Salaried person, freelancer and business. If your total income in a year is ₹50 Lakhs or more than that, then you have to pay advance tax. All tax rates are applicable on paid persons, freelancers and businessmen.
It is necessary to report the business income at the time of filing return to avoid any tax non-compliance. At the end of the year businesses struggle to manage their accounts. This premium ITR filing plan is designed to help you professionally in preparing financial details and filing business ITR.
Here's a table outlining the documents required for ITR filing for businesses :-
Document | Description |
---|---|
PAN Card | Permanent Account Number for tax identification |
Financial Statements | Includes Profit and loss account, balance sheet etc. |
Bank Statements | Statement for the financial year to verify income. |
TDS Certificate | Tax Deduction at source certificates for tax credits |
Invoices and Receipts | Documents showing sales and expenses incurred. |
Failure to file income tax returns for business income may face heavy penalties. Businesses can face a penalty of up to ₹10,000 for late filing and also face additional interest charges. Ensure compliance and save yourself from penalties by following professional ITR services designed for Business .
Consultants whose annual income is not more than Rs 20,000 they will not pay tax.
If your tax situation has become complicated like income sources, foreign assistance and capital gains, then you can take the help of a CA.
Yes, You can file your ITR without CA with the help of our DIY plan.
Starting price in India is ₹995 and if you are started in Foreign then it is ₹1499.
People having income of more than Rs 2.5 lakh or above 60 years of age and having income of more than Rs 3 lakh are required to file ITR. However, under the new system, the basic exemption limit for people below 60 years of age is Rs 3 lakh.