G-308/310 , Udhna Sangh Commercial Complex
Opp Bank Of Baroda Udhna Teen Rasta Surat-394210
Support@Kaushaltax.in
7016066950
G-308/310 , Udhna Sangh Commercial Complex
Opp Bank Of Baroda Udhna Teen Rasta Surat-394210
Support@Kaushaltax.in
7016066950
G-308/310 , Udhna Sangh Commercial Complex
Opp Bank Of Baroda Udhna Teen Rasta Surat-394210
Support@Kaushaltax.in
7016066950
As per the Income Tax Act, any company or person making a payment is required to deduct tax at source if the payment exceeds certain threshold limits. Usually, tax deductions are made within a range of 1 % – 10 %.
TDS RETURN FOR INDIVIDUALS AND BUSINESSES
An employer or company that has valid TAN – Tax Collection and Deduction Account Number can file for online TDS return. Any individual or business who makes a particular payment which is stated under the I-T Act needs to deduct tax at source. The deposit for the same has to be made within the stipulated time. The payment categories include:
Salary
Insurance commissionz
Income by way of “Income on Securitiesâ€
Income by way of winning the lottery, puzzles, and others
Payment in respect of National Saving Scheme and many others
An assessee can submit an e-TDS return if the same was deducted from their income. As mentioned earlier, it is the obligation of the assessee to file within the due date or be liable to pay a penalty for delay. The categories of assessees eligible to electronically file TDS return every quarter are:
Company
Persons whose accounts are audited u/s44AB
Persons holding an office under the Government
ADVANTAGES
As per the IT Act of 1961 filing TDS return is mandatory as well as it fetches some benefits to person or company. A few advantages of submitting a return and knowing the refund status are:
A steady inflow of income to the government.
Facilitates a smooth collection of taxes used for welfare.
No burden of paying tax lump sum as the payment is done every three months for the whole year
DOCUMENTS REQUIRED
TAN details
PAN details
Last TDS filing details, if applicable
The period for which TDS has to be filed
Date of incorporation of the business
of transactions for filing TDS returns
Name of the entity – Proprietorship/ Partnership/ Company/ LLP
We provide TDS returns, TDS return filing services in Surat
Income Tax Return is a form which is used to file the income tax with the Income Tax Department. Income tax is a tax imposed by the Central Government on income of a person. Filing income tax is every citizen’s responsibility. The IT department verifies these declarations of income and if any amount has been paid in excess, the department refunds the amount to the assessee’s bank account. All entities are required to file the taxes on time to avoid penalty. The form that contains information of income and tax paid of an assessee is called Income Tax Return. The Income Tax Department of India has various forms for it such as ITR 1, ITR 2, ITR 3, ITR 4S, ITR 5, ITR 6 and ITR 7.
WHO IS REQUIRED TO FILE INCOME TAX RETURN?
Anybody who is less than 60 years of age and has an annual income more than Rs2.5 lakh has to file income tax returns, according to the Income Tax Act. For senior citizens, the cut-off is Rs3 lakh, and for those who are more than 80 years old, the cut off is Rs5 lakh. However, there are several other criteria for an individual or a company to fulfil for filing income tax returns. They are as follows:
It is mandatory for a company to file income tax returns if the company has incurred an income or a loss during the financial year.
Return filing is compulsory if you want a refund.
You have to file your income tax return if you are a resident of India but have property or financial interest in an entity outside India. The same is true is you are a resident of India but have Signature authority in a foreign account.
The return has to be filed for any income from property under a charitable trust, religious purposes, research or for a political party, medical institution, hospital or any other institution.
You must file a return if you have entered into any transaction under the Annual Information Return.
IT TAX REFUNDS & TAXPAYERS RESPONSIBILITY
A taxpayer becomes eligible for tax refund when an excess amount of tax is paid than the actual tax liability. In order to claim the refund the taxpayer must have filed the returns within the due date. Tax payers usually receive notices by the IT department to ensure they complete the filing process without any delays. Any loss against house property, depreciation, business loss and any form of loss not set off against the income can be carried forward to the subsequent years.
ADVANTAGES
Easy Loan Approval
Claim Tax Refund
Income & Address Proof
Quick Visa Processing
Carry Forward Your Losses
Avoid Penalty
DOCUMENTS REQUIRED
Bank statements
Proof of investments
D.S. Certificates in Form 16 or 16A as applicable
Documents on purchase and sale of investments/assets
Challan of tax paid such as advance tax or self-assessment tax
For businesses – a copy each of the audit report, balance sheet, trading, profit and loss account, personal account of proprietor or partners
Statement of receipts and payments when no regular books are maintained
Receipts of payment of insurance premium, provident purchase of NSCs, new equity shares, mutual fund, NSS, donations, etc. to support claimed deductions
Call Now for Tax Information and Services, ITR Services and Income Tax Filing in Surat.
Income Tax Return is a form which is used to file the income tax with the Income Tax Department. Income tax is a tax imposed by the Central Government on income of a person. Filing income tax is every citizen's responsibility. The IT department verifies these declarations of income and if any amount has been paid in excess, the department refunds the amount to the assesseea's bank account. All entities are required to file the taxes on time to avoid penalty. The form that contains information of income and tax paid of an assessee is called Income Tax Return. The Income Tax Department of India has various forms for it such as ITR 1, ITR 2, ITR 3, ITR 4S, ITR 5, ITR 6 and ITR 7.
WHO IS REQUIRED TO FILE INCOME TAX RETURN?
Anybody who is less than 60 years of age and has an annual income more than Rs2.5 lakh has to file income tax returns, according to the Income Tax Act. For senior citizens, the cut-off is Rs3 lakh, and for those who are more than 80 years old, the cut off is Rs5 lakh. However, there are several other criteria for an individual or a company to fulfil for filing income tax returns. They are as follows:
It is mandatory for a company to file income tax returns if the company has incurred an income or a loss during the financial year.
Return filing is compulsory if you want a refund.
You have to file your income tax return if you are a resident of India but have property or financial interest in an entity outside India. The same is true is you are a resident of India but have Signature authority in a foreign account.
The return has to be filed for any income from property under a charitable trust, religious purposes, research or for a political party, medical institution, hospital or any other institution.
You must file a return if you have entered into any transaction under the Annual Information Return.
IT TAX REFUNDS & TAXPAYERS RESPONSIBILITY
A taxpayer becomes eligible for tax refund when an excess amount of tax is paid than the actual tax liability. In order to claim the refund the taxpayer must have filed the returns within the due date. Tax payers usually receive notices by the IT department to ensure they complete the filing process without any delays. Any loss against house property, depreciation, business loss and any form of loss not set off against the income can be carried forward to the subsequent years.
ADVANTAGES
Easy Loan Approval
Claim Tax Refund
Income & Address Proof
Quick Visa Processing
Carry Forward Your Losses
Avoid Penalty
DOCUMENTS REQUIRED
Bank statements
Proof of investments
D.S. Certificates in Form 16 or 16A as applicable
Documents on purchase and sale of investments/assets
Challan of tax paid such as advance tax or self-assessment tax
For businesses – a copy each of the audit report, balance sheet, trading, profit and loss account, personal account of proprietor or partners
Statement of receipts and payments when no regular books are maintained
Receipts of payment of insurance premium, provident purchase of NSCs, new equity shares, mutual fund, NSS, donations, etc. to support claimed deductions
Call Now for Tax Information and Services, ITR Services and Income Tax Filing in Surat.
TDS Return Services
TDS Return Services
TDS Return Services
