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Tax Filing

Business Tax Returns Filing

Latest Updates Regarding The Deadlines

Recent Updates on Deadlines:
On 9th September 2021, the CBDT published a circular extending the deadlines for certain direct tax
compliances for the Assessment year 2021-22.

1. Extension of the due date for filing income tax returns:
i. The deadline for filing income tax returns by taxpayers who are not subject to audit has been
extended from 30th September 2021 to 31st December 2021.
ii. The deadline for filing income tax returns in tax audit cases has been extended to 15th February 2022.
iii. Income tax return filing for transfer pricing is extended till 28th February, 2022.
iv. The deadline for Income tax return filing of Belated or Revised Return for FY 20-21 has been
extended from 31st December 2021 to 31st March 2022.
2. Furnishing Audit Report:
i. The deadline for submitting the audit report has been extended to 15th January 2022.
ii. The deadline for submitting an audit report in transfer pricing cases has been extended to 31st
January 2022.

Online Business Tax Return Filing In India
A business tax return is a statement filed by the businesses to declare their income & losses in front of the
tax department. It also contains details about the assets & liabilities held by the business. Items such as fixed
assets, current assets, debtors, creditors, accounts receivable, accounts payable, long term debt etc., are

What Is Included In Our Package?

Eligibility Consultation
Document Preparation
Application Drafting
Government Fees

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Income Tax Return (ITR) - ITR Filing

Income Tax Return (ITR) - ITR Filing

ITR Filing for Individuals
As per Section 139(1) of the income tax act, 1961, any individual earning more than Rs 2.5 lakhs and crosses this
specified exemption limit is liable to pay income tax return. It is mandatory for individuals to file income tax return if they are earning from the following sources –
Form ITR 1 or SAHAJ is used for filing tax return by taxpayers whose earnings are up to Rs 50 Lakhs.
Income from salary
Income from pension
Income from house property (except any case where loss has been brought forward)
Income from other sources
Agriculture income up to Rs 5000

Business Tax Return Filing
Filing of business tax return depends upon the type of business you are doing – whether it is Sole Proprietorship
Partnership Firm, Private Limited Company
or Limited Liability Partnership
(LLP). It is mandatory for businesses to file books of accounts, if they
meet any of the following conditions mentioned below –

As per Section 44AD and 44AE of the income tax act, Form ITR 4 is used by the businesses to file income tax return in case they opt for the presumptive income scheme.
If total income is more than Rs 1,20,000 or
If total sales, turnover or gross receipts exceeds Rs 10,00,000

LLP Annual Filing

LLP Annual Return Filing In India

Limited Liability Partnership is a partnership in which all partners
have limited liability. In LLP, one partner is not responsible for the other partner’s misconduct or negligence.
Every LLP registered with ministry of corporate affairs has to file statement of accounts and annual returns every year

There are 3 compliances which every LLP has to mandatorily comply with –
Annual return
Financial statements of LLP
Income tax return filings (
As a registered LLP user, you have to mandatorily file financial statements & annual return even if you are not
doing any business. Even a nil return should be filed as it is a compulsory requirement.

What Is Included In Our Package?

Eligibility Consultation
Document Preparation
Application Drafting
Government Fees

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TDS Return Filing

Online TDS Return Filing In India.

Filing of TDS return is not an easy task. Many taxpayers are finding difficulty in submitting or filing their TDS
returns. TDS is a quarterly statement given to the income tax department. TDS means tax deducted at source.
According to the income tax act, 1961 – TDS is an indirect system of tax deduction by government of India at the time when the transaction takes place. Tax is deducted by the diductor and transferred to the government by him on behalf of the duductee.

TDS return is a statement that must be submitted quarterly to the income tax department. TDS return is
submitted by the deductor, and it contains details of TDS deducted & deposited by you.

There are two cases where tax is deducted at the time of payment –
Tax deduction ranges from 1% to 10%. Deductor deducts the tax amount from your salary and deposits the same to the income tax department. As some of your tax portions have automatically been paid to the tax department, it is considered a method of reducing tax evasion. It is mandatory for the deductor to submit a TDS return before the deadline.

The details required to file TDS returns are given below –

1 Payment of salary
2 Payment of life insurance policy
 PAN of deductor and the deductee.
 Tax amount paid to the government
 TDS challan information
 Others, if any

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