Income Tax

Periodic Filings

• Income Tax Returns [ITRs1 to 7]
• TDS returns [Form 24Q, 26Q, 27Q, 27EQ]
• Income Tax Audits (through our associate CA firm) [ Forms 3CA, 3CB, 3CD]
• Advance Tax computation and assistance in deposition

 

Income Tax Department Matters

• Responding to all classes of Income Tax Notices
• Filing appeals and defending against Income Tax Department upto Tribunal (ITAT)
• Defending Search and Seizure cases
• Obtaining Tax Clearance Certificate
• Securing Lower Deduction Certificate
• All other department matters

International Taxation (to give link to International taxation page)

• Transfer Pricing Report
• Transfer Pricing Audit [Form 3 CEB]
• Form 15 CA / CB for transfer of money outside India
• Other Forms related to cross border transactions [Forms 3 CEB, 3 CEJ etc.]

 

Charitable Institutions [NGOs, Trusts etc.]

• Applying for registration u/s 12 AB as well as 10(23 C) – Forms 10A, 55, 56, 56 D
• Guiding as to which registration would be more beneficial
• Audits of Charitable Institutions [ Form 10 B, 10 BB]
• Filing forms for multiple exemptions, reliefs [Form 9A, 10]
• Applying for Sec 80 G deduction eligibility

Finance Act 2020 mandated all Charitable institutions to not only obtain fresh registration but also to have it renewed every 5 years. Deadlines have been prescribed within which such applications have to be filed. You cannot afford to miss these deadlines.

Artificial Intelligence and Machine Reading

Over the years income tax compliance has been made an exercise of extreme caution since the Income Tax Returns are processed using AI and MR techniques which do not tolerate any error. However, it also been responsible for faster refund processing if the Income Tax Returns are filed in time.

We take a holistic view, combining industry insight with the technical skills of financial and tax professionals, economists, lawyers and our other in-house resources as necessary, to develop comprehensive integrated solutions.

Other Services

• PAN application
• TAN application
• Digital Signature
• Any and all other Income Tax related matters

 

File Income Tax Return Online

You need not visit our office but only need to share the following documents with us:

• PAN
• Aadhaar
• Father’s Name
• Address
• Date of Birth
• Form 16 – received from your employer
• Form 16A – for any Income other than salary (if available)
• Fixed Deposit Interest Certificate from Bank
• Bank Statement/ Pass Book
• Passport Number
• Mobile Number & Landline Number (if any)
• All operative bank accountdetails [Bank name, Branch, IFS Code, a/c number]

 

If you have forgotten your password, the following will be needed:

• Email ID and Mobile Number; or
• Digital Signature Certificate; or
• Answer of the Secret Question

 

The income earned in a financial year (April 1 to March 31) is subject to tax and filing Income Tax Returns (ITRs) is the way to inform the Income Tax Department (ITD) of the same.

Tax Collection

The department has 3 ways of collecting tax:

• TDS
• Advance Tax
• Self-Assessment tax

Income Tax Returns

To file an ITR, multiple clauses across the Income Tax Act, 1961, are to be given effect to, net income computed, deduct the tax already paid and hence deduce the final tax payable followed by furnishing all this information through the ITR. This completes a simple income tax compliance for a financial year.

The ITR forms differ based primarily on the sources of income and need for income tax audit. In any financial year there are 7 ITR forms that are notified.

September month is a Tax audit month. Since the audit has to be completed on or before due date i.e. 30th Sept. This section creates an obligation on the following persons to get his accounts audited by a chartered accountant in full time practice and to furnish by the specified date, the report in prescribed form of such audit: