Income Tax Return
In Meghalaya

File your taxes on time and save the costs of penalties!

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Learn how to comply & avoid penalties
Learn how to comply & avoid penalties

Why Tax Filling Is Necessary

Compliance ensure no hassles

Compliance ensure no hassles .

It is a law to file tax returns if your income is more than Rs.2,50,000 or if your annual electricity bill is Rs.1,00,000 or if you have taken up a foreign travel more than Rs.2,00,000 or owning of foreign asset or bank deposit more than Rs. 1.00Cr. Non filing of return in digital world can call for problem. There is penalty for not filling.

Compliance ensure no hassles

Process easiness .

Multiple matters like seeking personal loan for car, home, education, or filling tenders becomes easier with filing of tax returns. Also it facilitate Visa processing in case of foreign travel. In case you are a professional, and act as vendor for any company, non filling will draw higher tax deduction

Compliance ensure no hassles

Claiming Tax refund.

It is almost certain that each individual has incidence of withholding tax in form of TDS on interest or dividend or some time on capital gain transactions. Even sometimes additional tax is held by employer or customers. The only way to get refund is filling of tax returns

Facilitate fund planning and Claim settlements .

Filling of IT returns encouraged many to start savings in various tax saving schemes which helped individual to create a fund base post retiral. Also for any life insurance claim settlement, ITR is very important.

What is Income Tax Return?

Income–tax return (ITR) is a statement of income and tax thereon, which is to be furnished by a taxpayer to the Income-tax Department in prescribed form every year.

Why Income Tax return need to file?

Income Tax return filling is legal requirement in India as per Income tax Act 1961 The following taxpayers are required to file a mandatory income tax return are listed below:
* Any private, public, foreign, domestic company.
* Any Limited Liability Partnership (LLP) and unlimited liability partnership.
* Any total individual income is exceeding the exemption limit.

Advantages of Filling Income tax return


* Legal Requirement by Income Tax Act 1961 – for individual & HUF -If gross total income Exceeding 2,50,000/-then shall have to file return
* For firm & companies- even if no income return filing mandatory
* Claiming refund
* Carry-forward of losses
* Establishing income proof in compensation cases
* Helps the bank loan documentation process easier
* Credit Card Processing
* For a hassle-free visa application procedure
* Makes life easier for freelancers and Professional

Disadvantages of a Non Filling Income tax return


* Losses cannot be carried forward.
* Deductions under Chapter – VI A cannot be claim
* Interest under Section 234
* Loss on refund of Taxes (Financial loss)
* Best judgment assessment (Assessment under section 144):
* Penalty for Concealment of Income
* Prosecution for Failure to Furnish Return of Income u/s 276CC
*If you are required to file return as per IT act, not filling will result in penalty.

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Turnover>50 lakhs 50 Lakhs<99.9 Lakhs 1 Crore <5 Crore 5 Crore < 10 Crore
Startups
7,999+GST
Micro Enterprises
12,999+GST
Small Enterprises
19,999+GST
Medium Enterprises
25,999+GST
Entrepreneur Success Training Is Included Entrepreneur Success Training Is Included Entrepreneur Success Training Is Included Entrepreneur Success Training Is Included
Assessment of Your Financials Is Included Assessment of Your Financials Is Included Assessment of Your Financials Is Included Assessment of Your Financials Is Included
Preparation of Financial statements Is Included Preparation of Financial statements Is Included Preparation of Financial statements Is Included Preparation of Financial statements Is Included
Prepare Draft return for consultation Is Included Prepare Draft return for consultation Is Included Prepare Draft return for consultation Is Included Prepare Draft return for consultation Is Included
Audit if required Is excluded Audit if required Is excluded Audit if required Is Included Audit if required Is Included
Submission of  Final Return Is Included Submission of  Final Return Is Included Submission of  Final Return Is Included Submission of  Final Return Is Included

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Documents Required For Income Tax Return

Proprietor
  • Copy of PAN
  • Banks Accounts details / statements of all bank accounts (including Joint Accounts)
  • Form 16 received from Employer (if available)
  • Form 16 A received form Deductor (if available)
  • Details of Investments made / Mediclaim (To claim Deduction or to lessen your tax burden)
  • Aadhar Number (Mandatory)
  • Passport Number ( if you have visited outside India in last financial year)
One Person Company
Private Limited
Public Limited
Partnership Firm
LLP
NGO

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Questions for filing tax return

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Please Choose From Below Packages
Turnover>50 lakhs 50 Lakhs<99.9 Lakhs 1 Crore <5 Crore 5 Crore < 10 Crore
7,999+GST
12,999+GST
19,999+GST
25,999+GST
Entrepreneur Success Training Is Included Entrepreneur Success Training Is Included Entrepreneur Success Training Is Included Entrepreneur Success Training Is Included
Assessment of Your Financials Is Included Assessment of Your Financials Is Included Assessment of Your Financials Is Included Assessment of Your Financials Is Included
Preparation of Financial statements Is Included Preparation of Financial statements Is Included Preparation of Financial statements Is Included Preparation of Financial statements Is Included
Prepare Draft return for consultation Is Included Prepare Draft return for consultation Is Included Prepare Draft return for consultation Is Included Prepare Draft return for consultation Is Included
Audit if required Is excluded Audit if required Is excluded Audit if required Is Included Audit if required Is Included
Submission of  Final Return Is Included Submission of  Final Return Is Included Submission of  Final Return Is Included Submission of  Final Return Is Included

GST @18% : 1440

Total : ₹9439

all govt fee excluded

GST @18% : 2340

Total : ₹15339

all govt fee excluded

GST @18% : 3600

Total : ₹23599

all govt fee excluded

GST @18% : 4680

Total : ₹30679

all govt fee excluded

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Frequently asked questions

The return of income can be filed with the Income-tax Department in any of the following modes.
• By furnishing the return in a paper form.
• By furnishing the return electronically under digital signature, i.e., e-filing with digital signature.

Return of income can be filed either in hard copy at the local office of the Income-tax Department or can be electronically filed at www.incometaxindiaefiling.gov.in

In case of queries on e-filing of return, the taxpayer can contact us at 8882101000

Yes, provided the original return has been filed before the due date and the Department has not completed the assessment. It is expected that the mistake in the original return is of a genuine and bona fide nature and not rectification of any deliberate mistake. However, a belated return (being a return filed after the due date) cannot be revised.

Yes, if one could not file the return of income on or before the prescribed due date, then he can file a belated return. A belated return can be filed within a period of one year from the end of the assessment year or before completion of the assessment, whichever is earlier. Return filed after the prescribed due date is called as a belated return.

Filing of return is your duty and earns for you the dignity of consciously contributing to the development of the nation. Apart from this, your income-tax returns validate your credit worthiness before financial institutions and make it possible for you to access many financial benefits such as bank credits, etc.

Filing of return with digital signature is mandatory for: (a) Every company; (b) A firm or an individual or HUF who are required to get their accounts audited under section 44AB; (c) A Political Party its income exceeds the limit, without claiming exemptions under Section 13A, which is not chargeable to tax]

It can be found either on the Form 16/16A or in the 26AS tax credit statement available on https://www.tdscpc.gov.in/app/login.xhtml TRACES (TDS Reconciliation and Correction Enabling System) website.

click on Services>Know your Jurisdiction given on the home page of incometaxindiaefiling.gov.in or use the following link https://incometaxindiaefiling.gov.in/e-Filing/Services/KnowYourJurisdictionLink.html to know your jurisdictional officer

No, all salaried taxpayers can’t choose ITR-1 for filing tax returns from Assessment Year 2013-14 onwards. They can choose ITR-1 only if they are claiming exemption under sec. 10 (e.g. HRA, Conveyance allowance, etc.) up to Rs 5,000 or less. So, if taxpayer is claiming any exemption under sec. 10 which exceeds Rs. 5,000, he cannot file return of income in ITR-1 (As per amended Rule 12 of income-tax rules).

Yes, only 10 returns can be filed using same email-id or same mobile number.

You won't have to worry about missing a tax deduction or wasting hours of time doing your taxes by hand!

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