Tax & CA Services

What is ITR Filing?

Income Tax Return (ITR) filing is a mandatory annual process where taxpayers report their income, deductions, and calculate tax liability to the Income Tax Department of India.

Different ITR Forms:

• ITR-1 (Sahaj): For individuals with salary and pension income up to ₹50 lakh
• ITR-2: For individuals with capital gains, foreign assets, and multiple house properties
• ITR-3: For individuals with business or professional income
• ITR-4 (Sugam): For presumptive taxation scheme taxpayers
• ITR-5: For firms, LLP, AOP, and BOI
• ITR-6: For companies other than companies claiming exemption under section 11

Benefits of Professional ITR Filing:

• Accurate calculation and maximum refund
• Proper deduction optimization
• Error-free filing and compliance
• Expert tax planning advice
• Timely filing to avoid penalties
• Professional representation if required

Required Documents:

Filing Timeline:

• Individual taxpayers: July 31st
• Audit cases: September 30th
• Companies: September 30th
• Late filing penalty: ₹5,000 to ₹10,000

Our ITR Filing Process:

1. Document collection and review
2. Income computation and tax calculation
3. Deduction optimization
4. ITR preparation and review
5. Online filing and acknowledgment
6. ITR-V submission if required

What is Tax Planning?

Tax planning is the strategic arrangement of financial activities to minimize tax liability legally while maximizing savings and investment returns through proper utilization of deductions and exemptions.

Tax Saving Sections:

• Section 80C: Deduction up to ₹1.5 lakh for investments in PPF, ELSS, life insurance
• Section 80D: Health insurance premiums up to ₹25,000
• Section 80E: Education loan interest deduction
• Section 80G: Donations to charitable institutions
• Section 80TTA: Savings account interest up to ₹10,000
• Section 24(b): Home loan interest up to ₹2 lakh

Our Tax Planning Services:

• Comprehensive tax liability assessment
• Investment portfolio optimization
• Salary restructuring for tax efficiency
• Retirement planning with tax benefits
• HRA and other allowance optimization
• Capital gains tax planning

Tax Planning Strategies:

Investment Options:

• Equity Linked Saving Schemes (ELSS)
• Public Provident Fund (PPF)
• National Savings Certificate (NSC)
• Tax Saving Fixed Deposits
• Unit Linked Insurance Plans (ULIP)
• Employee Provident Fund (EPF)

Benefits of Professional Tax Planning:

1. Maximize tax savings legally
2. Create optimal investment portfolio
3. Plan for long-term financial goals
4. Ensure compliance with tax laws
5. Reduce overall tax burden
6. Achieve financial discipline

What is GST?

Goods and Services Tax (GST) is a comprehensive indirect tax levied on the supply of goods and services throughout India. It has replaced multiple cascading taxes charged by central and state governments.

GST Registration Requirements:

• Businesses with turnover exceeding ₹40 lakh (₹20 lakh for special category states)
• Service providers with turnover exceeding ₹20 lakh
• E-commerce operators and suppliers
• Inter-state suppliers regardless of turnover
• Input service distributors
• Agents and non-resident taxable persons

Our GST Services Include:

• GST registration and GSTIN allocation
• Monthly GSTR-1, GSTR-3B filing
• Annual GSTR-9 return preparation
• Input tax credit reconciliation
• GST audit and compliance review
• Amendment and cancellation services

GST Return Filing Calendar:

Required Documents:

• PAN card of the business entity
• Aadhaar card of authorized signatory
• Business registration certificate
• Address proof of business premises
• Bank account statement or cancelled cheque
• Digital signature certificate (if applicable)

GST Compliance Benefits:

1. Legal compliance and avoid penalties
2. Input tax credit claims
3. Seamless interstate trade
4. Enhanced business credibility
5. Government scheme eligibility
6. Easy loan approvals from banks