Individual Tax Filing:
Assistance in maximizing deductions and reducing tax liabilities.
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Income Tax Return
Understanding the complexities of income tax can be difficult, but with our expert income tax return filing services, we make the process seamless and stress-free. Whether you're an individual, freelancer, or business owner, we provide customised solutions to ensure your tax returns are filed accurately and on time.
Our team of tax professionals will guide you through every step from tax planning to gather the necessary documentation to identify eligible deductions, exemptions, and credits that can minimize your tax liability. We stay updated with the latest tax laws and regulations to help you optimize your returns and avoid penalties.
Our Income Tax Return Filing Services Include:
Business Tax Filing:
Expert handling of corporate tax returns, ensuring necessary compliance.
Tax Planning:
Strategic advice to help you make tax-efficient financial decisions throughout the year.
Tax Refund Assistance:
We ensure you're not leaving money on the table by claiming all eligible refunds.
Tax Compliance:
Full support to keep you aligned with all applicable tax regulations.
We have More Than Six Years of Experience.
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Frequently Asked Questions
Intimation refers to the processing of returns by the Centralised Processing Centre (CPC). In this, all Income-tax returns filed under Section 139 or in response to a notice under Section 142(1) are processed to verify and fix the arithmetical errors, apparent errors, tax calculation, and tax payments. At this stage, no verification of the income is undertaken.
Rental income in the hands of owner is charged to tax under the head “Income from house property”. Rental income of a person other than the owner cannot be charged to tax under the head “Income from house property”. Hence, rental income received by a tenant from sub-letting cannot be charged to tax under the head “Income from house property”. Such income is taxable under the head “Income from other sources” or profits and gains from business or profession, as the case may be
(a) In the hands of a Government employee Gratuity and PF receipts on retirement are exempt from tax. In the hands of non-Government employee, gratuity is exempt subject to the limits prescribed in this regard and PF receipts are exempt from tax, if the same are received from a recognised PF after rendering continuous service of not less than 5 years.
(b) No exemption shall be available for the interest income accrued during the previous year in the recognised and statutory provident fund to the extent it relates to the contribution made by the employees over Rs. 2,50,000 in the previous year.
(c) However, if an employee is contributing to the fund but there is no contribution to such fund by the employer, then the interest income accrued during the previous year shall be taxable to the extent it relates to the contribution made by the employee to that fund in excess of Rs. 5,00,000 in a financial year.
(d) The CBDT vide notification no 95/2021, dated 31-08-2021, has notified Rule 9D for calculation of taxable interest relating to contribution in a provident fund or recognised provided fund, exceeding above specified limit.
The amount of HRA is required to be disclosed in the ITR under the column allowances to the extent exempt under section 10. section 10(3A) is the relevant section under which the amount of exempt HRA to be shown.
Least/minimum of the following is exempt (Not taxable/deducted from total HRA received)
(a) Actual amount of HRA received
(b) Rent paid Less 10% of salary
(c) 50% of salary if rented accomandation is situated at Kolkata, Chennai, Mumbai and Delhi
or
40 % of salary if the rented accomadation is situated at other than Kolkata, Chennai, Mumbai and Delhi.
In case of no rent is paid then exemption will be zero.