Income tax Return filing - Overview
ITR filing is a process in which the taxpayer can use to claim tax deductions, net tax liability, and to document the gross taxable income. It is mandatory for individuals to understand how to file income tax returns online India and get help from experts to avoid unwanted disputes
The income earned by the individuals and companies is subject to tax liability therefore, they have to file income tax return with the income tax department as per the provisions of Income Tax Act, 1961. The tax levied on the income is collected by the Central Government.
Benefits for ITR filing
It makes tax payer eligible for loan processing.
It helps in claiming TDS refund or any other tax paid in excess.
Also, it allows carry forward of losses.
It makes individual a responsible citizen.
Helps in avoiding penalty provisions.
Considered as a financial evidence for availing loan or visa.
Helps government in keeping track of the income of taxpayer.
Documents Required For Registration
- Copy & PAN of Aadhaar
- Address details
- Bank Account details
- Additional disclosures with reference to income from payroll & fixed deposits
- Data required for claiming deduction
- Data required regarding TDS return filing and advance tax payments
- Investment proof
- TDS certificate in Form 16
- Interest income certificate in Form 16A
- Form 26AS
Process To Register
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Pattayar experts will be at your disposal for assisting you with guidance concerning ITR Filing for the smooth functioning of your business/Occupation in India. Pattayar professionals will assist you in planning seamlessly at the least cost, confirming the successful conclusion of the process.
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