CA for ITR filing and e-Learning Services in Near Location

If you are searching for a CA in your near location then we are happy to help you in filing your Income Tax return (ITR) at a reasonable fee and proper time. Before consulting with our CA team, kindly read the information given below, We hope it will help you in knowing about your Income Tax Return (ITR) filing requirement. After reading, if you feel, ITR is required to be file then feel free to contact us.

Who has to file an income tax return (ITR) mandatorily?

As per the Income Tax Act, In any of the following situations, it is mandatory to file Income Tax Return (ITR)

I. If your gross total income (before deductions under section 80C to 80U) exceeds Rs 2,50,000.00 in FY 2018-19. This limit is Rs 3,00,000.00 for senior citizens (aged above 60 but less than 80) or Rs 5,00,000.00 for super senior citizens (aged above 80).

II. If you are a company or a firm irrespective of whether you have income or loss during the financial year

III. If you want to claim an Income Tax refund.

IV. If you want to carry forward your loss under a head of income

V. If you are a resident individual and have an asset or financial interest in an entity located outside of India. (Not applicable to NRIs or RNORs)

VI. If you are a resident and a signing authority in a foreign account. (Not applicable to NRIs or RNORs)

VII. If your income derived from property held under a trust for charitable or religious purposes or a political party or a research association, news agency, educational or medical institution, trade union, a not for profit university or educational institution, a hospital, infrastructure debt fund, any authority, body or trust

VIII. If you are a foreign company taking treaty benefit on a transaction in India

Late fee and Penalties for non-filing income tax return (ITR)

Under section 271F, the assessing officer may levy a penalty of Rs 5.000 when you have not filed your return. (applicable until FY 2016-17).

From Financial Year 2017-18 onwards, Late fee for non-filing an income tax return (ITR) are as follows:

I. A  late fee of Rs 5,000 is applicable if the return for Financial Year 2018-19 is filed after the due date (31 August 2019) but by 31 December 2019.

II. A late fee of Rs 10,000 is applicable if the return for the Financial Year 2018-19 is filed after 31 December 2019 but by 31 March 2020.

III. Penalty is limited to Rs 1,000 for those with income up to Rs 5 lakhs. These provisions are covered under a new Section 234F.

Disclaimer: There may be variations due to updates by the government. Kindly note that we are not responsible for any incorrect information. If you need information about the "Effective Date" then please visit the Income Tax website or consult with our tax experts.

Income Tax Return Filing e-Learning Course

We are providing the online e-Learning course on "Income Tax Return Filing" at a reasonable price. You can start learning instantly after making a payment of a small amount. 

For More Information Contact Us:

Contact Person: Jiban Mohanty, Mobile: 9830017363,  e-Mail: cajiban@gmail.com

 

TDS return e-filing and e-Learning services in India.

As you know, TDS return filing is mandatory for every quarter by all deductors or entities who have deducted TDS but if it is not filed in time then the deductor has to pay a late fee of INR 200/- ( Two Hundred Rupees) per day from the day of default. We provide TDS filing services all over India at the best reasonable price with the best higher quality. We always intimate the new TDS related updated and changes made by the department and we share the format for collecting the necessary information for filing your TDS returns. Based on the information provided by you, our TDS expert will complete the TDS return. After filing your TDS return, we send you acknowledgment along with Returns. If you want to avail of our TDS return filing services feel free to contact us.  For your information, we have mentioned some TDS return form based on our work experience. 

Form 24Q: This form is to be filled in respect to a tax deduction on payment of employee salary. This return is to be filed by all the employers in India.

Form 26Q: This form is to be filled in respect to tax deductions on transactions other than payment of salary, such as on rent, professional fees, interests, dividends, payment to contractors, etc.

Form 26QB: The purpose of this form filing TDS Returns with regard to a deduction on income from the sale of immovable property in India.

Form 27Q: The purpose of filing this type of return is to furnish details of the transactions with respect to the foreign payments made.

Form 27EQ:  TCS Return is filed with respect to the tax collection at source on transactions such as the sale of liquor, tendu leaves, scrap sales, timber, etc.

Form 27D: This type of form is filled for obtaining the certificate of Tax Collected at Source or the TCS. This certificate of TCS validates the return filed in Form 27EQ. 

BENEFITS FOR FILING TDS RETURNS TIMELY

To avoid the penalty: No doubt, late filing of the TDS/TCS return would attract a heavy penalty of INR 200 per day till default continues.

To prevent additional penalty: Besides the minimum penalty of INR 200, the tax deductor would also be liable for the additional penalty for failure to file TDS return within one year from the particular date. This ranges from INR 10,000 to INR 1 lakh.

To facilitate the reconciliation of the ITR: The main purpose of the filing of TDS return is reconciling the income actually earned with income declared in the income tax return.

To avoid cancellation of the expenditure: If the person supposed to file the TDS return fails to do so on time, then the assessing officer may opt for nullifying the impact of expenditure on which the TDS was required to be deducted but not deducted. Hence liable for incremental tax incidence.

Facilitating filling of Form 26AS: Form 26AS is an annual consolidated tax statement that specifies the details of the taxes deducted during the year. Anyone can claim TDS credit only if entries are visible in form 26AS. If you deduct the TDS of a person and not file TDS return, such persons may rush to you for the same at the last moment.

Our Kolkata Branch Office Address:

Office: 5/234, Paschim Putiary, ( Near Councilor Ratnasur Ji Apartment) Tollygunge, Kolkata-700041   (From 10:30 am to 5:30 pm)

By Metro: 7 minutes walking distance From Netaji Metro Station (for Kudghat area) Auto Riska services are available there. 12 minutes walking distance From Mohanayak Uttamkumar Metro Station (for Tollygunge area) Auto, Riska, Buss, Taxi services are available there.

By BusTaxi, Auto, etc: Bu stop Karunamoyee. Use our Google map as a proper guide.

For More Information Contact Us:

Contact Person: Jiban Mohanty, Mobile: 9830017363,  e-Mail: cajiban@gmail.com


 

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