We walk you through the process of filing your income tax return. Every year, you are required to submit an Income Tax Return (ITR), regardless of whether you are a small business or an individual. LegalTaxPert is a company that specializes in providing services related to tax compliance. We make the process of submitting your ITR as simple as possible and assist you in paying the least amount of income tax possible. To properly complete the ITR, which is not a simple procedure, one must be familiar with all of the laws and regulations established by the government.
Our mission is to provide clients in India tax compliance advising services of the highest possible quality. Our goal is to help individuals, small businesses, and large corporations file their taxes as quickly and accurately as possible. The procedure for paying taxes in India is really difficult to understand. Without the assistance of a professional, you will not be able to successfully submit your tax returns. LegalTaxPert is aware of the objectives you have for your tax return and may point you in the appropriate route to realize those objectives. Our staff is familiar with all of the laws and regulations that the Indian Government has in place regarding the payment of taxes.
Everyone is required to submit an Individual Income Tax Return (ITR) for their income on an annual basis, regardless of whether they are an individual or a large corporation. In order to claim all of your losses, you need to submit your ITR. You may save yourself from owing the government more tax money by enlisting the assistance of professionals and doing the appropriate computation. You will have a better understanding of the regulations and computations involved in submitting your income tax returns with the assistance of the professional tax consultant.
Avoid paying penalty fees that are due to the late filing of ITR. We help you to fill your ITR on time.
Tax-paying returns are proof of your financial investment. These documents help you with visa’s and loans.
You can claim your tax refunds if you pay tax more than you owe. Earlier claimers get the refunds sooner.
The Income Tax Department has made available a free e-filing tool, often known as software, for the purpose of generating an electronic return and electronically submitting a return. The electronic filing tool that is made available by the Department is simple, intuitive, and comes with its own set of instructions for usage. The filing of income tax returns by taxpayers is made more simpler when they use the electronic filing tool. You may get the utility by downloading it from the website www.incometaxindiaefiling.gov.in.
E-filing refers to the process of electronically submitting a return of income, whereas e-payment refers to the process of making an electronic payment of taxes (such as using net banking or a debit or credit card issued by SBI). The taxpayer may conveniently and swiftly fulfill his responsibilities to pay tax and provide a return by using the e-payment and e-filing facility. This allows the taxpayer to discharge his obligations.
You will, on the other hand, be subject to the penalty and prosecution provisions of the Income Tax Act if you fail to file your return despite having income that is subject to taxation, which is not the case.
Yes, an individual may submit a belated return of income if he was unable to file the return of income on or before the date that was stipulated as the due date. Within a period of one year from the end of the assessment year or before the conclusion of the assessment, whichever comes first, a belated return may be lodged with the appropriate authorities. A return that is submitted after the date that was specified as being due is referred to as a delayed return. However, as of April 1, 2017, a belated income tax return can be submitted for the Assessment Year 2017-18 and onwards at any time before the end of the relevant assessment year or before the completion of the assessment, whichever comes first. This applies to returns that are being submitted for tax years 2017-18 and onwards.
E.g., Belated tax returns may be submitted until the 31st of March, 2018, in the event that income was collected during the fiscal year 2015–2016.
When you file your income tax return, you may request a refund for the amount of tax that was paid in excess. Your money will be repaid to you in the form of an ECS transfer, which will credit your bank account with the amount. The department has been working hard to complete the processing of refund requests as quickly as possible.
It is possible to submit a revised return within a time frame of one year from the end of the assessment year that is relevant to it, or before the conclusion of the assessment, whichever comes first.
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