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Overview of Income Tax Filing in Bangalore

Many people are unaware of the importance of income tax filing and why it is required. The legislature requires that any entity who earns more than a certain amount of annual income file a tax return by a certain date. If an individual fails to file on or before the due date, our government requires them to pay a penalty. If a person earns less than the specified amount, the returns must also be filed. Although it is not required. As we can see, this era is forming a cashless mode of payment. The cards we use are also essential for filing tax returns. If you are planning to apply for a loan, the company will always want to see a copy of your tax returns (home loan, car loan, etc.).

We make the process of filing your income taxes much easier and more convenient. Income tax refunds are a return of excess income tax paid to the government by an individual during the previous financial year. Section 44AB of the Income Tax Act states that anyone in charge of a business with a turnover of Rs. 1 crore must have their books audited by a chartered accountant. Furthermore, businesses with a turnover of more than 2 crores in the previous three years must have their books audited in accordance with Section 44AB.

Who Can File Income Tax ?

Salaried person

The salaried person with other income

Proprietorship

Partnership

Private limited company

LLP

Documents Required :


1. Individual/Salaried Person

Pan card and Aadhaar card

All bank statements

TDS certificate (form 16-for TDS on salary)

TDS certificate (form 16a-for TDS on non-salary) like professional fees, rent, interest etc.


2. Private Limited Company

Directors pan and aadhaar card

Company pan card

Profit and loss statement

Balance sheet

All bank statements

Investment proofs

Others


3. LLP Company

LLP pan, address details, date of registration proofs

Partner pan, Aadhaar and address details

Profit and loss statement

Balance sheet

Bank statements

Benefits of Income Tax :

Easy loan approval

Quick visa processing

Claim tax refund

Income & address proof

Avoid late fees under 234F

Avoid Tax Notices

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