Income Tax Return
We are rendering Income Tax Filing Service in Dwarka, Delhi. These services are accomplished by expert's team who has affluent industry proficiency and practice. We have made the Income Tax eFiling, simple and easy. Income Tax Return or ITR is the process of filing tax returns at the end of a financial year. Earlier, it could be done offline but now the entire process is completely online. File your income tax return online with the dedicated Tax Experts support from Garg Goyal & Associates.
Income Tax Return is a proof that you have paid your income tax. It contains details about your annual income and the amount of tax you have paid. Every year, Indian citizens who earn taxable income have to file Income Tax Return (ITR). Filing ITR will help you in getting a refund in case you pay more tax than what you are required to pay. If you fail to file your ITR, you might have to pay penalty or face legal consequences.
What is to be done after the filing of ITR?
After an assessee has successfully filed his/her income tax returns online, a 15-digit acknowledgement number will be generated by the portal. The assessee will be required to verify the tax returns after this. This verification can be done using Netbanking.
- ITR online filing from anywhere, anytime.
- A distinctive messaging platform to reach the tax expert
- Service fees based on complexity
- 100% data confidentiality and information security
Benefits of Filing Income Tax Return
Though it might be a tedious process to keep a track of every nifty detail needed in order to file the proper details for the Income Tax Return, it actually helps a lot when it is done in the earnest and ahead of time, preferably, online-
- Online filing of returns ends by July 31 or every financial year, and being a month or two in advance in filing the income tax returns actually ensures one encounters lesser traffic and the entire process goes much smoother.
- In case one has missed filing tax returns for the previous year, every additional day till July 31 increases the penal interest. Thus, filing a tax return in advance is very advisable.
- Creating a favourable financial history - Online filing of the income tax returns actually creates a history of your financial records with the tax department in a much faster and easier way. This history is favoured by a lot of organisations, be it financial or otherwise, whom you might have a business relationship with in the future.
- Proof of financial record - Having an ITR-V form is always handy, since one can readily furnish the same as a proof for any kind of financial liability or opening a line of credit.
- A copy of the previous year’s tax return > to declare any losses and other information.
- Your Bank statements > to refer the interest paid to your loans, balances etc.
- Your TDS certificates > to include taxes that are already paid to the IT Department.
- Your Savings Certificates / Deductions / Donations > to include deductions.
- Certificates of Disability in your family > to include deductions .
- An Interest statement that shows the interest paid to you. > Possibly from Bank and/or Post Office.
- In case of having Business income/loss, have Balance sheets, Profit & Loss account statements, and other requisite Audit Reports.
What are the documents needed to file my taxes?
While it depends on your sources of Income, for the most it's as simple as your Form-16. Refer below for the list to maximize the deductions and accuracy!