How Fintrac Advisors Can Help You with Income Tax Return Filing in India
At Fintrac Advisors, we provide expert income tax return (ITR) filing services to ensure compliance with tax regulations while maximizing your savings. Whether you are an individual taxpayer, business owner, or corporate entity, our seamless and hassle-free tax filing services help you stay compliant and stress-free.
Advantages
Benefits of Filing Your Income Tax Returns with Fintrac Advisors,
Error-Free & Accurate Filing: Minimize tax liabilities and avoid penalties with precise return filing.
Maximized Tax Savings: Optimize deductions and exemptions to reduce tax burdens
Compliance with Tax Laws: Ensure timely and legal tax filing as per the latest regulations.
Expert Advisory & Support: Get professional guidance for tax planning and management.
Seamless & Hassle-Free Process: Avoid the complexities of tax filing with our streamlined services.
why choose us
Our skills are the main reasons why clients choose us
Frequently Asked Questions
Get Answers to Your Income Tax Filing Queries
Filing your ITR on time not only helps avoid penalties but also enhances financial credibility. A well-maintained tax record can help in obtaining loans, visas, and financial approvals with ease. Ensure compliance and smart tax planning with our expert services.
What is Income Tax Return (ITR) Filing?
Income tax return (ITR) filing is the process of reporting your annual income, deductions, and taxes paid to the government. It helps in determining your tax liability and allows you to claim refunds if you have paid excess taxes.
Who is required to file an Income Tax Return in India?
Filing an ITR is mandatory for:
Individuals earning above the basic exemption limit (as per tax slabs).
Businesses and self-employed professionals.
Companies and firms, irrespective of income.
Individuals who want to claim tax refunds.
Taxpayers seeking to carry forward capital losses.
Individuals earning above the basic exemption limit (as per tax slabs).
Businesses and self-employed professionals.
Companies and firms, irrespective of income.
Individuals who want to claim tax refunds.
Taxpayers seeking to carry forward capital losses.
What are the different types of ITR forms?
There are different ITR forms based on income sources and taxpayer categories:
ITR-1 (Sahaj): For salaried individuals with income up to Rs. 50 lakh.
ITR-2: For individuals & HUFs not having business income.
ITR-3: For professionals and business owners.
ITR-4 (Sugam): For individuals, HUFs, and firms under presumptive taxation.
ITR-5, 6, 7: For LLPs, companies, and trusts.
ITR-1 (Sahaj): For salaried individuals with income up to Rs. 50 lakh.
ITR-2: For individuals & HUFs not having business income.
ITR-3: For professionals and business owners.
ITR-4 (Sugam): For individuals, HUFs, and firms under presumptive taxation.
ITR-5, 6, 7: For LLPs, companies, and trusts.
What documents are required for ITR filing?
Key documents required for tax filing include:
PAN Card & Aadhaar Card
Form 16 (for salaried individuals)
Bank account details & bank statements
Investment proofs (PPF, FD, Mutual Funds, etc.)
Rental income details (if applicable)
Loan & insurance premium payment receipts
PAN Card & Aadhaar Card
Form 16 (for salaried individuals)
Bank account details & bank statements
Investment proofs (PPF, FD, Mutual Funds, etc.)
Rental income details (if applicable)
Loan & insurance premium payment receipts
What happens if I fail to file my ITR on time?
Failure to file an ITR within the due date may result in:
Late filing fees under Section 234F (up to Rs. 5,000).
Interest penalty under Section 234A.
Loss of carry-forward benefits on capital losses.
Higher scrutiny from the Income Tax Department.
Late filing fees under Section 234F (up to Rs. 5,000).
Interest penalty under Section 234A.
Loss of carry-forward benefits on capital losses.
Higher scrutiny from the Income Tax Department.
OUR SERVICES
Exploring Business world through our Services
Load More
