Register your Income Tax Return in just 3 steps!
Choose Your Package
Our carefully designed pricing plans take into consideration the needs of teams of various sizes
₹10,999
₹20,999Starter
- CA Assisted Incorporation
- Certificate of Incorporation
- Legal drafting of MOA and ADA
- PAN and TAN
- Digital Signatures(2 No's)
- Name Reservation
- PF and ESIC Registration
- MSME Registration
- Director Identification Number
- Bank account in one day**
₹15,999
₹20,999Growth
- Everything in Starter
- GST Registration
- Shops & Establishment Reg.
- Post incorporation checklist
- Partner collaboration
- Name Reservation
- PF and ESIC Registration
₹25,499
₹20,999Pro
- Everything in Growth
- Startup India Registration
- CA Consultation for 30min
- 1000+ Finance Dashboards
- Free GST filings for 6 months
- Professional Tax Registration
- Dedicated Account Manager
₹lets Talk!
₹50,999Custom
- Group of Companies.
- Multiple Licenses.
- Multiple Legalities
- PAN and TAN
- Digital Signatures (2 No's)
- Name Reservation
- PF and ESIC Registration
- MSME Registration
- Director Identification Number
- Bank account in one day**
Grab Your Free Startup Kit & Automate Success!
Get various CRM Tools, HR & Payroll Management, Legal Templates, Marketing Automation
Partner Benefits
Enjoy a range of exclusive value-added benefits
Our Three Step Process
- Fill The Forms
- Upload Documents
- Get Approval
Why Choose Us
Our carefully designed pricing plans take into consideration the needs of teams of various sizes.
Zero Penalty Record
Expert CA Team
Fast Turnaround
Transparent Pricing
Results-Driven
Multi-city Operations
Paperless Operations
100% Compliance Assured
Documents Required
Pre-requisites
About Income Tax Return (ITR) E-Filing Services
What is an Income Tax Return (ITR)?
An Income Tax Return (ITR) is a form used by taxpayers to report their income and tax payments to the Income Tax Department. There are seven different ITR forms (ITR 1 to ITR 7), and the appropriate form depends on various factors, including income sources, total earnings, and taxpayer type (individuals, Hindu Undivided Families (HUFs), companies, etc.). Timely and accurate completion of ITR is essential to comply with tax regulations.
Who Needs to E-File an Income Tax Return?
E-filing of ITR is not only a legal duty but also a financial responsibility that applies to various groups under different circumstances. Here’s a breakdown of who is required to e-file:
- Salaried Individuals: Mandatory if total income before deductions exceeds the basic exemption limit.
- Firms: All corporate entities, including private limited companies, LLPs, and traditional partnerships, must file annually, regardless of profit or loss.
- Directors and Partners: Individuals serving as directors or partners must reflect their income and financial activities in the ITR.
- Dividend Earners: Required if you receive dividends from sources like mutual funds, bonds, equities, or fixed deposits.
- Charity and Religious Trusts: Income from managing charity funds or voluntary contributions must be reported.
- Tax Refunds: Individuals and businesses eligible for refunds must e-file to claim taxes overpaid.
- NRIs and Tech Professionals: Required if income from India surpasses exemption limits or involves specific transactions.
Eligibility for Income Tax Filing
In India, e-filing is required under certain conditions, including basic exemption limits based on age and other criteria.
- Individuals under 60 years: ₹2.5 lakh
- Individuals between 60 and 80 years: ₹3 lakh
- Individuals over 80 years: ₹5 lakh
- Mandatory e-filing for high-value transactions such as depositing ₹1 crore or more in current accounts, spending over ₹2 lakh on foreign travel, and incurring electricity expenses exceeding ₹1 lakh.
Income Tax Return Forms in India
The ITR e-filing process utilizes various forms tailored for different taxpayers:
- ITR-1 (SAHAJ): For individuals with income from salary or pension below ₹50 lakh and who own one house property.
- ITR-2: Suitable for NRIs, company directors, or individuals with capital gains or multiple house properties.
- ITR-3: Designed for professionals and individuals with a proprietorship business.
- ITR-4: For those opting for presumptive taxation with business income below ₹2 crore.
- ITR-5: For partnerships, LLPs, and associations.
- ITR-6: Applicable to companies registered in India.
- ITR-7: For entities like charitable trusts and scientific research institutions.
Key Due Dates for ITR Filing
For Assessment Year (AY) 2024-25, the deadline for e-filing varies:
- Individuals and Non-Audit Entities: July 31, 2024
- Taxpayers Under Tax Audit: October 31, 2024
- Taxpayers Covered Under Transfer Pricing: November 30, 2024
- Revised/Belated Returns: December 31, 2024
Benefits of Income Tax E-Filing
E-filing offers numerous advantages:
- Legal Documentation: Serves as proof of income and taxes paid, aiding in identity verification and income assessments for loans or property purchases.
- Claim Tax Benefits: Allows you to claim deductions, reducing tax liability.
- Essential for Financial Transactions: Required for loan and visa applications, showcasing financial stability.
- Avoid Penalties: Timely e-filing helps avoid late fees and interest charges.
- Carry Forward Losses: Enables you to carry forward financial losses to offset future profits, a benefit forfeited if ITR is not filed timely.
- Refund Claims: Necessary to claim refunds on overpaid taxes.
Penalties for Late Filing
Missing the ITR filing deadline incurs penalties, including:
- Interest: 1% per month on unpaid tax under Section 234A.
- Late Fee: Rs. 5,000 (or Rs. 1,000 for income below Rs. 5 lakh) under Section 234F.
E-Filing Procedure
E-filing can be done online through the Income Tax Department's e-filing portal. Here’s how:
- Login to the Portal: Visit the Income Tax Department e-filing website.
- Select the Right ITR Form: Choose the form based on your income sources.
- Complete and Submit: Fill in the necessary details and submit your ITR.
- E-Verify Your Return: After submission, verify your return to complete the process.
Frequently Asked Questions
What is ITR e-filing?
Who is required to e-file an Income Tax Return?
What documents do I need for ITR e-filing?
What are the different ITR forms available?
What is the deadline for e-filing ITR for AY 2024-25?
Can I file my ITR after the deadline?
How can I e-file my ITR?
What are the penalties for late ITR filing?
How can I claim a tax refund through e-filing?
Is it safe to e-file my ITR?
