Best Income Tax Return filing in Delhi
The crucial part of taxation for all professionals
The entire taxation system of India can be categorized into two parts which are known as direct and indirect tax.
Direct tax is a tax that is calculated directly on your income, e.g. tax on salary, etc. Income tax is a Direct Tax.
The indirect tax is charged on goods and services indirectly. For instance, if you’re buying any good or accessing any service, then you will be paying the tax at the time of purchase, which is already included in the selling price. Now all the indirect taxes are replaced by GST.
When talking about Income tax, it is one of the direct taxes that every citizen gaining income through the job, business, or investments has to pay to the government. Earlier, there were many slabs in this tax, but with time, these were reduced. With every union budget, new regulations were introduced in this tax. According to the present budget, there is no age limit on eligible taxpayers. Even senior citizens receiving dividends or interest in their savings or investments need to pay income tax if the amount sums to more than2.5L annually.
Error-Free Income Tax Returns
Income Tax Return filing
After filing the income tax for the financial year before 1st March, the next important step is to file Income Tax returns. It is a form to claim all tax deductions and get a refund if you have paid excess income tax. The authority calculates the tax liability and tax payments and decided if your request for refunds is valid or not. If you are looking for Income Tax Return filing services in Delhi or any part of India, you can contact Inside tax. We can help in tax filing without making any mistakes. Remember that ITR filing is mandatory for all taxpayers; otherwise, they may have to pay the penalty.
E-Filling
E-Filling
- Fill in Simple Form on the website & email.
- E-file your returns through Insidetax. We guarantee the calculations are 100% accurate as we double-check every entry to ensure that there is no mistake, and then preparation ITR filing goes on.
Have Form-16?
- Kickstart e-filing by uploading your Form-16. Our Expert will obtain information automatically. Verify your data.
What Is Form 16?
Form 16 can be termed as Salary TDS (Tax Deducted at Source) Certificate that an employer raise to you for the TDS deducted. Financial institutions like banks and employers further use it to fetch salaried employees’ tax deductions information.
If the income of the salaried employee exceeds the limit, then the employer deducts TDS ad deposits to the government beforehand. Form-16 is issued in such a case with all the details of TDS deposited by the employer. If the employer filed no TDS, then no Form-16 is issued for that employee.
It consists of two parts, i.e. Part A and Part B. Part A consists of information about the employer & employee, name and address, PAN and TAN details, TDS deducted & deposited, etc. Part B is all about financial information like income from different sources and deductions allowed, etc. This information is used at the time of ITR filing, and one can even direly upload form 16. But valuation before filing ITR is important. There are many common mistakes that you must avoid while filing ITR . So consider taking professional advice before filing ITR or maybe paying extra income tax.
Types Of ITR
We can broadly classify ITR forms into 2 parts and 8 types.
ITR Forms for Individuals
ITR – 1 (Sahaj) – It is for individuals who are getting income from sources like salaries, one house property, interest income, agriculture, other sources, etc.
ITR – 2 – Individuals and HUFs who receive income from a different source other than their business or profession, which may be in the form of capital gain, lottery or foreign assets, etc., need to file ITR in this form.
ITR – 3 – This form is for individuals and HUFs who gain income from a traditional way, i.e., via profits of a business or profession.
ITR – 4 (Sugam) – All the Individuals, HUFs, and Firms (other than LLP) having presumptive business income tax returns need to file ITR under this form. The calculations are done per regulations of sections 44AD, 44ADA, or 44AE.
ITR Forms for Non-Individuals
ITR – 5 – This form is for entities other than an individual, HUFs, company
ITR – 6 – All registered companies can file ITR in this form. Companies claiming tax exemption as per section 11 are exceptions.
ITR – 7 – People and companies that require to file returns under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only need this form.
Would You Like Assistance From An Expert ?
Basic Plan- Salary & Rental Income Enquiry
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RS. 299/-
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Get Help-Chat With Experts
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Form 16, HRA, Rental Income
Standard Plan :- Filing ITR-1
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₹ 499
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All Basic Plan Features
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CA Review Of ITR
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Income tax return (ITR) filing for salaried employees with less than Rs. 10L aggregate income (annual)
Super Package:- Filing ITR-1
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₹ 999
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All Standard Plan Features
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Income tax return (ITR) filing for salaried individuals with more than Rs. 10L aggregate income (annual)
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Advanced Advice On Capital Gains