INCOME TAX RETURN FILING IN INDIA
LEADING ITR FILING COMPANY IN INDIA
File Income Tax Return for Salaried Employees/ Self Employed/ Professionals/ Startups/ MSMEs/ NRIs/ Traders/ Corporates
Benefits of Income Tax Return filing with EzyBiz India
- Tax Planning and Tax Saving
- Assistance in getting refund
- Assistance at the time of scrutiny notice and assessment
- More than 3000 Income Tax Return Filed
- PAN India 100% online ITR Filing service
Our Package to File Income Tax Return
Income Tax Return Filing Package starts@ Rs. 899/-
How it Works
- Fill the Enquiry Form
- Our Team will call You & Explain Packages
- Provide information and docs on email
- Pay professional fees
- Get the filed copy of Income Tax Return
Every year, the process of Income Tax Return Filing in India starts somewhere from May and continues till November depending upon type of assesses.
Financial Year 2022-23 is coming to an end and every person need to compute their total tax payable during FY 2022-23 and file their Income tax return for FY 2022-23 on or before the prescribed dates.
Every year, new income tax return filing forms are prescribed by the CBDT somewhere in the month of April for the convenience of the tax payers so that they may chose the correct income tax return forms while declaring the details of their income.
Income tax return filing in India- Some important points for consideration
Following points must be kept in mind while panning for Income tax return filing in India:
Income tax return need to be compulsorily filed in case the taxable income exceeds maximum exemption limit of Rs 2.5 lac [increased to Rs 3 lac by Finance bill 2023].
However, even if the taxable income does not exceed basic exemption limit, the assesse may be required to file their tax return in case they fulfill non monetary criteria like foreign travel, deposit of money in excess of prescribed limit in savings bank account, payment of electricity bill of more than Rs 1 00,000 and some other criteria’s
ITR filing is also advisable in case the assesse is planning for any loans from bank or want to apply for visa for going overseas or want to create a corpus of white money.
With effect from assessment year 2024-25, new income tax filing regime has been prescribed which becomes compulsory and in case any assesse want to opt for the old scheme of tax return filing, they need to intimate the government in advance by filing prescribed form
In the new tax regime, all exemptions and deduction u/s 80C has been done away with. Also, rebate has been increased from Rs 500,000 to Rs 7,00,000.
Further, standard deduction in case of salaried employees has kept at Rs 50,000.
While making computation of tax liability or filing ITR, proper comparison and reconciliation must be done with bank statements, form 26AS and form AIS as any mismatch in all 3 of them might result in issuance of notice by the Income tax department.
One common mistakes made by the assesse while filing ITR in India is that they fails to disclose the interest in savings bank account.
This is very important and interest from all savings bank account must be disclosed.
In case the total income of any individual salaried employee exceeds Rs 50,0,000 in such cases, they need to also declare their all the assets and liabilities.
We, at Ezybiz India helps salaried employees, HNIs, NRIs, corporates, partnership firms and LLPs in ITR filing in India in a professional and hassle free manner.