Filing an Income Tax Return is crucial for everyone, ensuring compliance with legal requirements and avoiding penalties. Our expert tax professionals are here to simplify the process of Income Tax Return filing for you. Filing an Income Tax Return is essential for compliance and avoiding penalties.
Why Choose Gupta Yogesh & Associates for Income Tax Return Filing?
Gupta Yogesh & Associates provides comprehensive services for Income Tax Return Filing in Rohtak, ensuring a hassle-free experience without third-party involvement or excessive fees. We handle all ITR forms including ITR1, ITR2, ITR3, ITR4, ITR5, ITR6, and ITR7, ensuring accurate and efficient filing with our team of experienced Chartered Accountants, Company Secretaries, and Lawyers.
Our Income Tax Return Filing Services in Rohtak
We offer a range of Income Tax Return filing services tailored to meet the needs of various clients:
- Job ITR Filing in Rohtak: Specialized services for salaried individuals to file their income tax returns.
- Company ITR Filing in Rohtak: Assistance for companies in meeting their tax obligations.
- Business ITR Filing in Rohtak: Support for business owners to file their tax returns.
- Individual ITR Filing in Rohtak: Personalized services for individual taxpayers.
- Sole Proprietorship ITR Filing in Rohtak: Tailored solutions for sole proprietors.
- Partnership Firm ITR Filing in Rohtak: Professional services for partnership firms to file their returns.
Key Highlights
- Income Tax Return Filing: Simplified and expert-guided process.
- E-Filing of Income Tax Return: Quick and efficient online filing services.
- Income Tax Return Filing Last Date: Stay updated with important deadlines to avoid penalties. Never miss a filing deadline with our reminders. As of now, the last dates are 31st July is for non-audit and 31st October is for audit cases.
- Income Tax Return Filing Login: Secure login assistance for hassle-free filing.
- How to File Income Tax Return Online: Step-by-step guidance for online filing.
- Income Tax Return Status: Track the status of your filed returns easily.
Choose Gupta Yogesh & Associates for a seamless Income Tax Return filing experience in Rohtak. Our expertise and commitment to customer satisfaction ensure that your tax filing process is smooth, accurate, and stress-free. Contact us today to get started and make your tax filing a breeze!
Frequently Asked Questions (FAQs) About Income Tax Return Filing
Question: What is an Income Tax Return (ITR)?
Answer: An Income Tax Return (ITR) is a form used to report the income earned by an individual or entity during a financial year and the taxes paid on that income. This form also allows for claiming refunds and compensation for losses. Different ITR forms are available for various types of income and taxpayers, which can be downloaded from [www.incometaxindia.gov.in](http://www.incometaxindia.gov.in).
Question: How is a taxpayer’s income classified?
Answer: Under Section 14 of the Income Tax Act, a taxpayer’s income is classified into five Heads of Income:
– Salaries
– Income from house property
– Profits and gains from business or profession
– Capital gains
– Income from other sources
Question: What is gross total income?
Answer: Gross total income is the aggregate of all the income from the different heads of income, as mentioned above.
Question: How can income tax returns be filed?
Answer: Income tax returns can be filed with the Income Tax Department in the following ways:
– Submitting the return in paper form
– Filing electronically with a digital signature
– Transmitting the return data electronically and verifying it using an electronic verification code
– Transmitting the return data electronically and submitting the verification via ITR-V form
Question: Are any documents required to be attached with the income tax return?
Answer: No, ITR forms are document-free, meaning taxpayers do not need to attach any proof of investments, TDS certificates, etc., whether filing manually or electronically. However, these documents should be retained and provided to the tax authorities if requested during assessments or inquiries.
Question: Who can use ITR-1 (SAHAJ)?
Answer: ITR-1 (SAHAJ) can be used by individuals whose total income includes:
– Income from salary/pension
– Income from one house property (excluding cases with carried forward losses)
– Income from other sources (excluding winnings from racehorses and certain other incomes specified under section 115BBE)
This form can also be used if the income of another person, such as a spouse or minor child, is to be clubbed with the taxpayer’s income, provided it falls under the above categories.
Question: Who can use ITR-2?
Answer: ITR-2 is for individuals and Hindu Undivided Families (HUFs) who are not eligible to file ITR-1 and do not have income from profits and gains of business or profession. It can also be used if the income of another person, such as a spouse or minor child, needs to be clubbed with the taxpayer’s income, provided the combined income falls under the specified categories.
Question: Who can use ITR-3?
Answer: ITR-3 is applicable for individuals or HUFs receiving income from profits and gains of business or profession. It is also used by individuals whose income is chargeable under the head “profits and gains of business or profession,” such as income in the form of interest, salary, bonus, commission, or remuneration from a partnership firm.
Question: Who can use ITR-4 (SUGAM)?
Answer: ITR-4 (SUGAM) can be used by individuals, HUFs, and firms (excluding LLPs) with total income including:
– Business income computed under sections 44AD or 44AE
– Income from profession as per section 44ADA
– Income from salary/pension
– Income from one house property (excluding cases with carried forward losses)
– Income from other sources (excluding winnings from lotteries and certain other incomes specified under section 115BBE)
This form can also be used if the income of another person, such as a spouse or minor child, needs to be clubbed with the taxpayer’s income, provided the combined income falls under the specified categories.
Question: Who can use ITR-5?
Answer: ITR-5 is for firms, LLPs, AOPs, BOIs, artificial juridical persons, cooperative societies, and local authorities. It is also applicable for representative assessees, societies, trusts, estates of deceased persons, estates of insolvent persons, investment trusts, and investment funds.
Question: Who can use ITR-6?
Answer: ITR-6 is used by companies, except those claiming exemption under section 11 (charitable or religious trusts).
Question: Who can use ITR-7?
Answer: ITR-7 is used by entities required to furnish returns under sections 139(4A), 139(4B), 139(4C), or 139(4D), such as trusts, political parties, institutions, and colleges.
Question: How can income returns be filed electronically?
Answer: The Income Tax Department provides a portal for e-filing income tax returns. Taxpayers can log on to [www.incometaxindiaefiling.gov.in](http://www.incometaxindiaefiling.gov.in) to file their returns online.
Question: What are the benefits of filing income tax returns?
Answer: Filing income tax returns is a legal obligation and demonstrates a taxpayer’s financial responsibility. It also validates creditworthiness and helps in availing various financial benefits such as bank loans or credit cards.
Question: Can I claim deductions not shown in my Form 16?
Answer: Yes, you can claim eligible deductions even if they are not reflected in your Form 16.
Question: How often can I revise my income tax return?
Answer: If you discover a mistake or omission in your filed return, you can revise it within the stipulated time frame, either before the end of the assessment year or before the assessment is completed, whichever is earlier. The revised return can be filed online under section 139(5).
Question: When should I pay taxes on my income?
Answer: Taxes on income should ideally be paid throughout the year via advance tax or self-assessment tax to ensure a smooth flow of funds and ease the collection process. Taxes can also be deducted at source or collected at source.
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