Income Tax Return Filing Services for Businesses

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Income Tax return filling

Filing your Income Tax Return (ITR) in India is an important responsibility for every taxpayer. It involves reporting all your income, deductions, and tax liabilities. The last date to file your ITR for Each financial year without a late fee is July 31 of the following financial year ( i.e for the financial year 2024-2025, the ITR filling due date is July 31,2025, which corresponds to the assessment year 2025-2026 ) Filing early helps avoid mistakes and technical issues. At Vyapar Registration, we make the ITR e-filing process simple and easy. Our expert support ensures a smooth, fast, and secure filing experience.
Let Vyapar Registration assist you in fulfilling your tax duties effortlessly.

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Income Tax Return Filing Services Made Simple

VyaparRegistration.com offers fast, reliable, and affordable income tax return filing services for individuals, professionals, and businesses. Filing your taxes correctly and on time is not just a legal obligation – it also helps you claim deductions, refunds, and build a clean financial record. Our expert team specializes in income tax return services for business, helping start ups, SMEs, and LLPs file accurate returns based on their income, expenses, and compliance needs. We also assist with company formation services and company incorporation services, ensuring you start your business on the right foot and stay tax-compliant year after year. Whether you’re self-employed or running a registered company, our income tax return filing services ensure timely filing, maximum savings, and zero stress. We also provide personalized income tax return services for business, covering all forms, including ITR-3, ITR-5, and more.

Income tax filing is a legal and financial responsibility for different groups. Here's who needs to file their ITR:

If your income after deductions exceeds the exemption limit, you must file your ITR.

All businesses, including private companies and LLPs, must file ITR every year, whether they make a profit or not.

Directors in companies or partners in LLPs must file ITR to report their income from the business.

If you earn income from dividends, such as from mutual funds, bonds, or fixed deposits, you need to file ITR.

Trusts managing charity funds or receiving voluntary contributions must file ITR for transparency.

If you’re eligible for a tax refund, you must file your ITR to claim it.

NRIs and tech professionals must file ITR if their income from India exceeds the exemption limit or involves certain transactions.

Who Needs to File Income Tax Returns (ITR)

In India, you need to file your Income Tax Return (ITR) if your income exceeds certain limits, which vary by age:

Advantages of Income Tax return filling

Filing your ITR provides an official record of your income and taxes paid, which is helpful for identity verification and income proof when applying for loans or property.

By filing your ITR, you can claim tax deductions and exemptions, lowering the amount of tax you owe.

ITR is necessary for loan and visa applications as it shows proof of income and financial stability.

Filing your ITR on time helps you avoid penalties and fines for late submission or unpaid taxes.

If you have financial losses, filing your ITR allows you to carry them forward and offset against future income.

A consistent tax filing record can speed up the approval process for loans and credit cards by showing your financial reliability.

If you’ve paid more tax than necessary, filing your ITR enables you to claim a refund easily and quickly.

ITR filing is often needed for big transactions, like buying property or purchasing high-value insurance.

Types of Income Tax returns

ITR 1 Sahaj Form

The ITR-1 Sahaj Form is a simple way for resident individuals in India to file their income tax returns. It is designed for those with a total income of up to Rs. 50 lakh, coming from salary/pension, a single house
property, or other sources. This form helps eligible individuals easily report their income and fulfill tax obligations.

Category	Details
Who Can File ITR-1	Eligibility: Resident individuals with total income below Rs. 50 lakh.
	Income Sources:
	- Salary/Pension
	- Income from a single house property
	- Family pension
	- Agricultural income (up to Rs. 5,000)
	- Interest income (from savings, deposits, income tax refund, etc.)
	Note: Mandatory if income is below exemption limit but meets other criteria like high deposits or significant expenses.
Who Cannot File ITR-1	Ineligible Individuals:
	- NRIs or RNORs
	- Income exceeding Rs. 50 lakh
	- Agricultural income over Rs. 5,000
	- Income from lottery, gambling, or capital gains
	- Business/professional income
	- Directors of companies
	- More than one house property
	- Those availing tax deduction under section 194N or owning ESOP from a start-up employer

ITR 2 Form

The ITR-2 form is meant for individuals and Hindu Undivided Families (HUFs) who do not earn income from business or professional activities. It is used to report income from other sources like salary, property, or capital gains.

Income Source	Description
Salary or Pension	Income from employment or pension.
House Property	Income from one or more properties.
Capital Gains	Income or losses from selling investments or property.
Other Sources	Income like lottery winnings or gambling earnings.
Agricultural Income	Receipts over Rs 5,000 from farming activities.
Foreign Income/Assets	Income earned abroad or owning foreign assets.
RNOR or Non-Resident Status	If you are a Resident Not Ordinarily Resident (RNOR) or Non-Resident (NRI).
Director in a Company	If you are a director in a listed or unlisted company.

ITR 3 Form

The ITR-3 Form is for taxpayers earning income from a business or profession. It helps the Income Tax Department gather detailed financial information to ensure tax compliance.

Category	Eligibility for ITR-3	Who Cannot File ITR-3	Due Date for Filing ITR-3
Directorship	If the taxpayer is a director of a company or engaged in business.	Partners in partnership firms should file ITR-2 instead of ITR-3.	Non-Audit Cases: July 31, 2023 Audit Cases: October 31, 2023
Residential Status	Applicable to both residents and non-residents.		Dates are subject to change, so stay updated with the income tax authorities.
Pension Income	If the taxpayer receives income from a pension.
House Property Income	Income from one or more house properties.
Unlisted Equity Shares	Investments in unlisted equity shares.
Business or Profession Income	Income from business or profession, including salary, interest, commission, etc.
Other Income	Includes income from lotteries, legal gambling, short-term and long-term capital gains, and foreign assets.

ITR 4 Form

The ITR-4 Form, also known as the Sugam form, is for taxpayers who have chosen the presumptive income scheme under Sections 44AD, 44ADA, and 44AE of the Income Tax Act. It's mandatory for eligible taxpayers to use this form. If your business has an annual turnover above Rs. 2 Crores, you must use ITR-3 instead. In some cases, you may need to use ITR-5. Vyappar Registration offers expert help with your ITR 4 income tax filing to ensure a smooth and accurate process.

Presumptive Taxation Scheme Overview

For Resident Individuals, Hindu Undivided Families (HUFs), and Partnership Firms engaged in specific businesses. Income is calculated on an estimated basis if turnover is below Rs. 2 Crore.

For Resident professionals (like doctors, lawyers, etc.) with gross receipts up to Rs. 50 Lakh. Income is estimated on a presumptive basis.

For businesses involved in goods carriage (up to 10 vehicles), allowing them to estimate income.

Criteria	Details
Total Income	Must not exceed Rs. 50 Lakh.
Income Sources	- Salary - Pension - One House Property - Interest income - Presumptive business income (turnover up to Rs. 2 Crore) - Presumptive income from goods carriage (up to 10 vehicles) - Professional income under Section 44ADA (up to Rs. 50 Lakh).
Agricultural Income	Up to Rs. 5,000.
Filing Type	Individuals, Hindu Undivided Families (HUFs), or Firms with income from the above sources.

Non-Eligibility for ITR-4 (SUGAM)

Criteria	Details
Directors of a Company	Not eligible to file ITR-4.
Unlisted Equity Shares	If held at any point during the previous year, cannot use ITR-4.
Foreign Assets	Taxpayers with assets or interests in foreign entities/accounts are not eligible.
Foreign Income	Individuals with income from foreign sources cannot file ITR-4.
Specific Income Types	- Profits from business/profession not under presumptive scheme - Income from more than one house property - Capital gains - Lottery winnings - Racehorse income - Income under Sections 115BBDA or 115BBE - Agricultural income above Rs. 5,000.
Tax Claims	Not eligible if claiming losses, deductions, or tax credits like under Section 57 (except for family pension).

ITR 5 Form

The ITR-5 Form is designed for entities like firms, Associations of Persons (AOP), and Bodies of Individuals (BOI) that are not structured as companies but still need to file their income tax returns. It helps these entities report their income and taxes to the Income Tax Department.
Vyappar Registration is your trusted partner for smooth and efficient ITR-5 filing. Our platform offers easy-to-use services with expert assistance, making your ITR filing experience seamless and hassle-free.

ITR-5 Form Eligibility

ITR-5 Form Ineligibility

Individuals must use ITR-1, ITR-2, or other applicable forms based on their income sources.

HUFs must file ITR-2 or other applicable forms based on income.

Companies must use ITR-6, except those claiming exemption under Section 11.

Taxpayers falling under Sections 139(4A), 139(4B), 139(4C), 139(4D), 139(4E), or 139(4F) must use ITR-7 (for charitable trusts, political parties, etc.).

ITR-5 Filing Due Dates

Situation	Due Date
When accounts are to be audited under the Income-Tax Act	31st October of the Assessment Year
When a report in Form No. 3CEB is required	30th November of the Assessment Year
When accounts do not need to be audited	31st July of the Assessment Year

ITR 6 Form

Filing ITR-6 is essential for companies in India to ensure they meet their annual tax obligations. It helps businesses stay compliant with the Income Tax Act, avoiding penalties and legal issues. If you're ready to complete your company's ITR-6, Vyappar Registration experts are here to assist you every step of the way!

ITR 6 Applicability

o All companies, except those claiming exemption under Section 11 of the Income Tax Act (charitable or
religious purposes).
o Companies registered under the Companies Act, 1956 or 2013, including:
 Private Limited Company
 One Person Company
 Public Limited Company

o Individuals
o Hindu Undivided Families (HUF)
o Firms
o Associations of Persons (AOP)
o Bodies of Individuals (BOI)
o Local Authorities
o Artificial Judicial Persons
o Companies claiming exemption under Section 11 of the Income Tax Act

o October 31st of the assessment year for companies not involved in transfer pricing.
o November 30th of the assessment year for companies involved in transfer pricing.

ITR 7 Form

What is the ITR-7 Form?

The ITR-7 Form is designed for entities claiming exemptions under specific sections of the Income Tax Act. It applies to:

Who is Eligible to File ITR-7?

The ITR-7 form applies to:

Charitable or Religious Trusts

Political Parties with income exceeding the non-taxable limit

Scientific research associations, hospitals, educational institutions, universities, and news agencies

Colleges and universities

Business trusts and investment funds

Trusts, companies, firms, local authorities, AOPs, or artificial judicial persons claiming exemptions under the above sections.

Who Cannot File ITR-7?

Individuals or entities not claiming exemptions under Sections 139(4A), 139(4B), 139(4C), or 139(4D) are not required to file ITR-7.

Overview of Different ITR Forms and Who Should Use Them

ITR Form	Who Should Use It	What It's For
ITR-1: SAHAJ	Individuals earning salary/pension under Rs. 50 lakh, and owning one house	For people with salary or pension income and one house
ITR-2: Beyond Business	NRIs, company directors, private company shareholders, those with capital gains or foreign income	For people with income from investments or foreign sources, or owning multiple properties
ITR-3: Professionals and Proprietorships	Professionals like doctors, lawyers, or people running their own business	For professionals or business owners working alone
ITR-4: Presumptive Taxation	People with business income less than Rs. 2 crore or professional income less than Rs. 50 lakh	For people with small businesses or freelance work, using a simple tax scheme
ITR-5: Partnerships, LLPs, and Others	Partnership firms, LLPs, associations, or bodies of individuals	For businesses and organizations like partnerships or LLPs
ITR-6: Companies	Companies registered in India	For companies that are officially registered in India
ITR-7: Special Entities	Charitable trusts, political parties, research institutes, and universities	For special organizations like trusts or research institutions

Due Dates for ITR Filing

Category of Taxpayer	Due Date
Individuals/Entities Not Liable for Tax Audit	July 31, 2024
Taxpayers Under Tax Audit (except transfer pricing)	October 31, 2024
Taxpayers Under Transfer Pricing	November 30, 2024
Revised/Belated Return for FY 2023-24	December 31, 2024
Corporate Returns (Extended Deadline)	November 15, 2024

Penalties for Late Filing of Income Tax Returns

Penalty Type	Details
Interest	1% interest per month on unpaid tax, under Section 234A.
Late Fee	Rs. 5,000 late fee (Rs. 1,000 if income is below Rs. 5 lakh) under Section 234F.
Loss Adjustment	Late filing means you lose the benefit of carrying forward losses from investments or business.

Income Tax Return Filing Requirements

Section	Documents Needed
General Documents	- PAN (Permanent Account Number): For all financial and tax-related activities. - Aadhaar (Linked to PAN): For tax record verification. - Bank Account Details: Needed for processing refunds or verifying financial details.
Income-Related Documents	- Salary Slips: To confirm your salary income. - Rent Receipts: If you're claiming House Rent Allowance (HRA). - Form 16: Provided by your employer showing the tax deducted from your salary. - Form-16A: For TDS on income other than salary. - Form-16B: For TDS on the sale of property. - Form-16C: For TDS on rent. - Form 26AS: Shows taxes already paid against your PAN.
Deductions & Exemptions	- Interest Certificates: From banks or post offices for savings accounts or fixed deposits. - Home Loan Details: If you're claiming deductions on home loan interest. - Proof of Tax-Saving Investments: Includes life insurance, health insurance, PPF, NSC, ELSS mutual funds, etc.
Other Income	- Capital Gains Documents: For income from the sale of assets like stocks or property. - Rental Income: Lease agreements and rent receipts for rental properties. - Foreign & Dividend Income Proofs: Documents verifying income from foreign sources and dividends.

Income Tax return filling

Offline to Online Method Steps

01

Download the Right Form

Go to the Income Tax website and download the appropriate ITR form.

02

Fill the Form Offline

Complete the form on your computer without the internet.

03

Save as XML

Once filled, save the form in XML format.

04

Upload the Form

Frequently Asked Questions (FAQs)

These are professional services to help individuals and businesses file ITR accurately as per Income Tax rules.

Every registered business or company should file returns annually. We offer tailored income tax return services for business.

Yes. Once your business is registered using our company incorporation services, we help you file your first ITR smoothly.

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Income Tax return filling

Income Tax Return Filing Services Made Simple

Income tax filing is a legal and financial responsibility for different groups. Here's who needs to file their ITR:

Who Needs to File Income Tax Returns (ITR)

Advantages of Income Tax return filling

Types of Income Tax returns

ITR 1 Sahaj Form

ITR 2 Form

ITR 3 Form

ITR 4 Form

Presumptive Taxation Scheme Overview

Non-Eligibility for ITR-4 (SUGAM)

ITR 5 Form

ITR-5 Form Eligibility

ITR-5 Form Ineligibility

ITR-5 Filing Due Dates

ITR 6 Form

ITR 6 Applicability

ITR 7 Form

What is the ITR-7 Form?

Who is Eligible to File ITR-7?

Who Cannot File ITR-7?

Overview of Different ITR Forms and Who Should Use Them

Due Dates for ITR Filing

Penalties for Late Filing of Income Tax Returns

Income Tax Return Filing Requirements

Income Tax return filling

Offline to Online Method Steps

01

Download the Right Form

02

Fill the Form Offline

03

Save as XML

04

Upload the Form

Frequently Asked Questions (FAQs)

1. What are income tax return filing services?

2. Who needs income tax return services for business?

3. Can I file returns after company incorporation?

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Why Choose vyaparregistration ?

Need a quick solution?

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Why Choose Vyaparregistration ?

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