Overview : Professional Income Tax Return (ITR) filing consultant in Dwarka, Delhi. Expert assistance with ITR filing, tax planning, and online tax payment services for individuals and businesses.

Income Tax Return (ITR) filing is a process through which individuals and businesses provide detailed information about their income. If applicable, online income tax payment is made after computing taxes. This payment is based on the prescribed income tax slab.

Types of Income Sources

Different ITR forms are prescribed based on the sources of income. These sources include:

1. Income from Salary

2. Income from House Property

3. Income from Business or Profession

4. Income from Capital Gains

5. Income from Other Sources (like interest income)

Simplified ITR Filing Process

The Government of India has streamlined the ITR filing and online tax payment system over the years. This has enabled many salaried employees to self-file their income tax returns.

Importance of ITR Receipt

An ITR receipt is a crucial document for several reasons:

1. Detailed Information: It is more detailed than Form 16, encompassing income, taxation, and revenue from other sources.

2. Proof of Address: The receipt, sent to your registered address, serves as residential proof.

3. Loan Applications: Banks often require copies of tax returns filed for the previous 2-3 years to assess the income capacity of the individual.

4. Loss Compensation: Filing ITR allows you to compensate for losses in the next financial year.

5. Avoiding Extra Interest: Belated returns can lead to extra interest of 1% per month on remaining tax payable.

6. Insurance Policies: Insurance companies may deny policies with higher cover if they suspect tax evasion.

Documents Required for ITR Filing

Before filing an ITR, especially for salaried individuals, the following documents are needed:

• Salary Slip

• Form 16

• Interest Certificate from Bank or Post Office

• Form 26AS (downloadable from the TRACES website)

• Challan of Advance Tax Paid (if any)

• Bank Account Details

Simplified Online ITR Filing

The online ITR filing procedure has become more straightforward over the years, allowing most individuals, especially salaried taxpayers, to file their own returns. However, when claiming deductions for house loans or under section 80C, some may need assistance from tax consultants to avoid filing incorrect returns.

Our Expertise in ITR Filing

We have filed thousands of income tax returns in Karol Bagh Delhi, including areas like Kirti Nagar, Dabri, South Extension, Kalkaji, Safdarjung, Vikaspuri, Mahipalpur, Kapashera, Patel Nagar, and Ramesh Nagar. For those seeking an "income tax consultant near me," our services are readily available.

Comprehensive ITR Filing Services

We provide comprehensive services for ITR filing, ensuring all required documents are in order:

• PAN Card & Aadhaar Card of Assessee

• Form 16 for Salaried Individuals

• Bank Statement for the Financial Year (01.04 to 31.03)

• Other Income Details

• Expenses Details (for firms/companies)

• KYC of all Directors/Partners (for firms/companies)

Contact us for professional assistance in filing your income tax returns efficiently and accurately.