TYPES OF INCOME TAX RETURNS

ITR 1

This ITR filing is for individuals whose income from Salary, Pension, House Property, or Other Sources upto INR 50 Lakhs.

ITR 2

This return is for Individuals & HUF whose income is from salary, pension, house property, capital gains, foreign asset/income or other sources.

ITR 3

This income tax return is for Individuals & HUF having income from profit and gains of business or profession (PGBP).

ITR 4

This ITR Filing is for Individuals or HUF who have income from PGBP but have opted for presumptive income scheme

ITR 5

This return is for Firms, LLPs, Body of Individuals (BOI) and Association of Persons (AOP)

ITR 6

This return is for all type of companies such as Public Limited Company, Private Limited Company, OPC, except Section 8 Company

5 Benefits of Filing Income Tax Return

Though According to income tax laws, filing the return and updating your ITR status is mandatory for every individual or entity whose income exceeds the threshold limit mentioned in the Income Tax Act-1961. There are certainly many benefits of filing of ITR:-

Avoid Penalty up to INR 10,000/- – This year, the government has introduced a new section in the Income Tax Act-1961, i.e. section 234F wherein failing to file ITR on due date July 31, 2018, attracts a mandatory penalty of ₹ 5,000/- that may extend up to ₹ 10,000/- if not filed before 31st December, 2018.
Avoid Tax Notice of non-filing of ITR – Remember, Uncle Sam is having an eye on your ITR status! In case you fail to duly file your Income Tax Return, you may get a tax notice from the Income Tax department, which would land you up in trouble. Better you timely fulfil the ITR filing process.
Get TDS Refund Back – If your client or employer deduct your TDS while making payment, it might be that you’re eligible for Tax Refund. On filing Income Tax Return you can claim your TDS credit and get a refund back excess TDS deducted over your net tax liability.
Ease in Availing Loans – Income Tax Return is a primary requirement of the bank and financial institution while sanctioning the loan. Income declared in Income Tax Return depicts your financial credibility which helps you to sanction loan easily.
Can take input or carry forward losses – Timely filing of income tax return make you eligible to carry forward your business & capital losses, if any, during a financial year which can be adjusted against income earned in the subsequent years and ultimately save your taxes.

ITR FILING PROCESS

Upload Required Documents for ITR Filing & Information to our web portal

Choose Package and Pay online with different payments modes available

On placing the order, your application is assigned to one of our dedicated professional

Our professional team will prepare computation of income & net tax liability

On after confirmation generate the income tax challan for income tax payment

After tax payment, file the income tax return and share ITR-V via email

Documents Required For Income Tax Return Filing

PAN Card

Bank Statment

Form 16 & 16A

Digital Signature Certificate

PACKAGES

Salary

999
Plus taxes

Filing of ITR-1 for an individual with salary.

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Business

1999
Plus taxes

Filing of ITR-4 of a person earning business or professional income who have opted for presumptive income scheme.

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Enterprise

Filing of ITR 3, 5 or 6 for LLP, OPC, Companies, Partnership Firms and individuals who have not opted for the presumptive income scheme.

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frequently asked questions

Q. What are the due dates of filing Income Tax Returns ?

-For Individuals, the last date of filing Income Tax Return is 31st July of next financial year
-For Companies & Persons who require tax audit under section 44AB, the last date of filing Income Tax Return is 30th September of next financial year

Q. What if i am not able to file my income tax return on time?

If you mandatorily requires filing income tax return but failed to do so then you are liable to pay penalty amounting to INR 5000

Q. I have filed my income tax return incorrect what should I do?

You can file revised return & correct the mistakes/errors. The revised return can be filed at any time before the expiry of 1 year from the end of the relevant assessment year

Q. Who can not file ITR 1?

If your total income exceeds Rs 50 lakhs.
If you have foreign assets
If you have agricultural income which is more than Rs. 5,000,
If you have taxable capital gains
If you have income from business or profession
If you have income from more than one house property

Q. Who can not file ITR 2?

This Return Form should not be filed by an individual whose total income for the assessment year 2017-18 includes Income from Business or Profession.

Q. Who can not file ITR 3?

The old ITR-4 tax form has been renamed ITR-3. If you've e-filed an ITR-3 for FY 2015-16, then you must file an ITR-2 now.

Q. Who can not file ITR 4?

The old ITR-4S tax form has been renamed ITR-4. If you've e-filed an ITR-4 for FY 2015-16, then you must file an ITR-3 now

Q. Whether hiring CA for filing ITR is mandatory?

No, It is not mandatory to hire CA for filing Income Tax Return. Procedure to file ITR requires financial & legal knowledge. So it is advisable to hire a professional for the Job. E-startupindia have experience and better understanding plus our team of professionals can get the job done easily online while you sit back at your place and relax

Q. Do you provide this service in my town?

Yes E-StartupIndia is an online platform serving all over India no matters wherever you are doing business all you need is internet connection on your mobile or desktop and we are ready to get your job done

Q. Do I need to physically present for the process?

No, You don't need to be physically present for the process, E-StartupIndia is an online catering platform all you need is an internet connection in your phone/computer and the required documents with you and we can get the job done no matters even if you are present at the remotest location of India

For any Enquiry +91-8881069069

Recent Updates

CBDT Latest Updates for Taxation Rules on Goodwill

There’s an important notification for taxpayers as the CBDT has set latest updates about new taxation rules relating to the Goodwill. The Central Board of Direct Taxes (CBDT) has issued new guidelines for calculating short-term capital gains (STCG) and write down value (WDV) in cases where goodwill depreciation has been received, possibly raising tax obligations for companies that have recently merged or acquired. Know more about CBDT Latest Updates for Taxation Rules on Goodwill

July 16, 2021

Income Tax Department issues refunds worth Thousand Crores till 5th July

As we all know, the income tax department issues refunds to taxpayers. These refunds are released after taxpayers do ITR Filing. This year too, the Income-tax department issues refunds. In this article, we will read about the Income Tax Department issues refund plus how you can check your Income tax refund status online. Know the Income Tax Department issues refunds worth Thousand Crores till 5th July

July 13, 2021

Income Tax due date extended amid COVID-19

Income tax due date extended amid covid is a much-awaited and needed relief. The Taxpayers are facing many difficulties in ITR filing and other tax obligations due to the impact of the Covid-19 pandemic. Furthermore, taxpayers are in confusion, especially in responding to different notifications by the government. Therefore, the government has now released two new updates to ease the tax compliances made by taxpayers during this difficult time. Know more on Income Tax due date extended amid COVID-19

June 26, 2021