Income Tax Return | e-Filing Anywhere Anytime through Legal Vidur
Filing returns is a sign you are responsible, the government mandates that individuals who earn a specified amount of annual income must file a tax return within a pre-determined due date. This is called ITR Filing Procedure.
ITR Filing Form
| Category of Taxpayer | Due Date for E- Filing AY 2019-20 | Due Date for E- Filing AY 2020-21 | Penalty |
|---|---|---|---|
| Individual/ Salaried/ Proprietor | 30th Nov 2020 | 31st Dec 2020 | Upto 10,000/- |
| Private Limited Co. | 30th Nov 2020 | 31st Dec 2020 | Upto 10,000/- |
| Limited Liability Partnership | 30th Nov 2020 | 31st Dec 2020 | Upto 10,000/- |
| Partnership | 30th Nov 2020 | 31st Dec 2020 | Upto 10,000/- |
There is no relaxation if a taxpayer faces late filing of returns in such cases penalty would be levied on:
• Delay in Filing: Interest imposed u/c 234 Income Tax Interest where a penalty is levied 1 % on the outstanding tax amount and must be paid from the first day after the due date of filing the return until the date of the actual filing of the return.
• Refunds could Delay: If you are likely to get a refund from the government for excess in payment. Then you must file the returns before the due date.
• Delay in Filing: Interest imposed u/c 234 Income Tax Interest where a penalty is levied 1 % on the outstanding tax amount and must be paid from the first day after the due date of filing the return until the date of the actual filing of the return.
• Refunds could Delay: If you are likely to get a refund from the government for excess in payment. Then you must file the returns before the due date.
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Who can file Income Tax with Legal Vidur
SALARIED PERSON
- Dedicated Consultant
- Computation
- E-FILLING
- ITR-V
SALARIED PERSON WITH OTHERS INCOME
- Dedicated Consultant
- Computation Income wise
- E-FILLING
- ITR-V
PROPRIETORSHIP
- Dedicated IT Expert
- Profit & Loss acconts prepration
- Balance sheet preparation
- Computation
- E-filling
- ITR-V
PARTNERSHIP
- Dedicated PTax Expert
- Profit & Loss acconts prepration
- Balance sheet preparation
- Balance sheet Finalization
- Computation
- E-filling
- ITR-V
- Audit fees & DSC not included
PRIVATE LIMITED COMPANY
- Dedicated IT Expert
- Profit & Loss acconts prepration
- Balance sheet preparation
- Balance sheet Finalization
- Computation
- E-filling
- ITR-V
- Audit fees & DSC not included
LLP
- Dedicated IT Expert
- Profit & Loss acconts prepration
- Balance sheet preparation
- Balance sheet Finalization
- Computation
- E-filling
- ITR-V
- Audit fees & DSC not included
How we work?
1
Submit your details and proceed for payment.
2
You will get a call from our Tax Expert.
3
Documentation done by our team of Experts.
4
Error-free tax computation is done by our Expert.
5
Confirmation of details and filing for returns.
6
File the ITR and provide the acknowledgement.
Documents Required
Individual / Salaried Person
- Pan card and aadhaar card
- All bank statement
- TDS certificate(form 16-for TDS on salary)
- TDS certificate (form 16a-for TDS on non-salary) like professional fees, rent, interest etc.
Private Limited Company
- Directors pan and aadhaar card
- Company pan card
- Profit and loss statement
- Balance sheet
- All bank statements
- Investment proofs
- Others
LLP Company
- LLP pan, address details, date of registration proofs
- Partner pan, aadhaar and address details
- Profit and loss statement
- Balance sheet
- Bank statements
STILL CONFUSED?
TAKE FREE ADVISOR CONSULTATION
Benefits of Income Tax Return
- Easy loan approval
- Quick visa processing
- Income & address proof
- Avoid late fees under 234F
- Claim tax refund
- Avoid Tax Notices
Frequently Asked Questions (FAQs)
Income tax returns or ITR are the tax forms used to declare the details of your income to the Income Tax Department to assess the amount you need to pay as income tax in a financial year.
Every Indian citizen whose gross total income exceeds the taxable limit must file an ITR. This implies, individuals and Hindu Undivided Families (HUFs) with total annual income exceeding Rs. 2,50,000 are required to file the income tax returns. For senior citizens (individuals between 60 years and 80 years of age) the threshold is Rs 3,00,000, and that for very senior citizens (aged above 80 years) it is Rs 5.00,000.
No, it is not mandatory to file an income tax return if your annual income is below Rs 2,50,000.
There are many advantages of filing ITR online. Some of the benefits are as follows:
• Quick processing: You will get the acknowledgement of ITR promptly. Refunds, if any, are processed faster online than paper-filed returns.
• Accuracy: E-filing software minimizes errors
• Convenience: E-filing facility is available 24x7 and can be done at your convenience
• Privacy: The data entered by you are safe as they cannot be accessed by anyone
• Record of past ITRs: It is easier to access previous data, should you need them at any time in future.
• Quick processing: You will get the acknowledgement of ITR promptly. Refunds, if any, are processed faster online than paper-filed returns.
• Accuracy: E-filing software minimizes errors
• Convenience: E-filing facility is available 24x7 and can be done at your convenience
• Privacy: The data entered by you are safe as they cannot be accessed by anyone
• Record of past ITRs: It is easier to access previous data, should you need them at any time in future.
Yes, in case of Income Tax Return filing, it is mandatory for every source of income you have to maintain proof of earning as specified under the Income-tax Act 1961.
