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Income Tax Season... What you gonna do next?

Income Tax is a type of direct tax imposed on the income of the individual, firm or organization of Indian citizen. Here the word citizen is used which means that any Indian residing outside India and having the citizenship of India also needs to pay tax on Income earned or arise in India. Income tax is imposed on both types of income i.e. direct or indirect income earned by assesse. Direct Income includes salary, wages etc. whereas indirect income includes interest, rent, commission etc.

Income tax return (ITR) is a valid legal document which proves that all the taxes have been paid on the income earned by the assesse in a particular financial year. It contains all the necessary details of the annual income earned and the taxes paid thereupon. Every Indian citizen is required to file income tax return as per the provisions of Income Tax Act 1961.

Advantages of filing ITRs

Acquiring loan

All major banks in India ask for a copy of income tax return before approving the loan, hence it is important to file income tax return as one cannot foresee the requirement of loan.

Claim Refund

In case if excess TDS is deducted by the employer or the person making the payment refund can be claimed for this excess tax paid only if income tax return is filed.

Carry forward of losses

As per the provisions of Income Tax Act 1961 to carry forward any type of losses (except house property losses) it is mandatory to file income tax return, hence if the return is nit filed the losses cannot be carried forward for that particular financial year.

Legal document

The filed income tax return serve as a legal document and can be produced in front of any authority like income tax department, visa authorities, financial institutions etc.

Surity

Documents Required for Company Registration

  • Copy of PAN Card of directors
  • Passport size photograph of directors
  • Copy of Aadhaar Card/ Voter identity card of directors
  • Copy of Rent agreement (If rented property)
  • Electricity/ Water bill (Business Place)
  • Copy of Property papers(If owned property)
  • Landlord NOC (Format will be provided)
How we help with income tax return filing

As per the provisions of Income tax Act 1961 if ITRs are not filed on a timely basis, assesse might face penalty or legal consequences. Generally the due date for filing ITR for a relevant Assessment Year is 31st July until and unless stated otherwise by the Act. In case of Tax Audit the due dates become 30th September of the relevant Assessment year.

To avoid hassles and help our clients in proper planning of their investments before filing ITR, we have a dedicated team of experts who work tirelessly to plan and file the ITRs well within the due date. We chalk out the best possible plan of investment and late help in filing well within the due dates so that our clients don’t have to face penalty. You just have to provide certain details like Basic information, documents like Form 16, Form 26AS, Investment proof if made, details of any advance tax paid etc.

Our Prices

Effective Services with Best Price

For Salaried Person (1 Form 16)
1000/-
Inclusive of all Taxes
For Business Person
4000/-
Inclusive of all Taxes

Frequently Asked Questions

Yes, you need a minimum of two directors for a private limited company. The maximum members can be 200. If you are the sole owner, you can register as a One Person Company.

Any individual/organization can become the member of the private limited company including foreigners/NRI. However, the individual must 18+ above in terms of age and should have a valid PAN card.

The entire procedure is 100% online and you don’t have to be present at our office or any other office for incorporation. A scanned copy of documents has to be sent via mail. They get the company incorporation certificate from MCA via courier at their business address.

There is absolutely no other payment. Our charges are inclusive of everything. We will send you an invoice with no hidden charges. Our team provides you support till you get your bank account.

caonweb.com can incorporate a Private Limited Company within 15-25 days. The time took also depends on relevant documents provided by the applicant and speed of approvals from government. To ensure speedy registration, please pick a unique name for the proposed Company and make sure you have all the required documents prior to starting the registration process.

Yes, an NRI or Foreign National can become a Director in a Private Limited Company. They can get a DPIN from Indian ROC. Also, they can be a majority shareholder in the company. But, at least one Director on the Board of Directors must be an Indian Resident.