Is it compulsory for to file an Income Tax Return?
No. You need to file an Income Tax Return if your total taxable income exceeds the basic exemption limit before taking into account deductions.
Currently, the basic exemption limit is Rs250000. while for Senior Citizens (60 yrs. & above) it is Rs.3,00,000 (80 and above Rs. 500000).
You do not need to file an income tax return if your total taxable income does not exceed the basic exemption limit before taking into account deductions, even though you may have a PAN.
What are the steps for filing an Income Tax Return with us at our office?
1.Call us for an appointment.
2.Provide us requested documents
3.Your completed return is emailed/shown to you for your approval, just in case of some spelling errors or for any changes you may need.
4.The Return is is verified and cerified by our TRP and e-filed.
5.E-Acknowlegement is printed in 3 copies for your signature and then counter signed by our TRP. One copy is given to you.
6.You make your payment.
7.After a few days, the final Bangalore Income Tax acknowledgement is delivered to your address.
8.Process complete.
Can I view my return online?
Yes. You can view your return online, using the passwordwe generate for you.
Is support for manual preparation provided and filing of Income Tax Returns?
Yes. We support and full guidance for manual preparation and filing of income tax returns. We could provide you a certified print out of your return and you could yourself submit it at the Income Tax Office. If you would want us to file your returns manually, please call us for the applicable charges. On our part we advise you to follow the standard procedure which simple and quick as compared to the manual filing.
What is an ITR-V?
ITR-V stands for ‘Income Tax Return – Verification’ form.
This form is received when you e-file without using a digital signature.
Income Tax Department needs to verify the authenticity of income tax return when filed online without using a digital signature.
On receipt of ITR-V you have to sign the copy and we then submit to the Income Tax Department to complete the filing process.
Can I submit ITR-V anywhere else in India?
No, you cannot. From this year onwards, you have to compulsorily mail your ITR-V in a sealed A-4 envelope to the address mentioned above. Relax, because we will do this for you.
Is there any time limit for submitting ITR-V to Income Tax Department?
Yes, within 120 days of e-filing your return.
What is the Due Date for filing an Income Tax Return?
The Due Date to file your Income Tax Return is 31st July. Thus for financial year ended on 31st March, 2010, the due date of filing return is 31st July, 2010.
Does that mean that I cannot file return after the due date mentioned?
No, it does not mean so. Due date is different from last date. You can file return after the due date also. However in such case you will have to pay penal interest @ 1% per month for late filing.
What is Revised Return and can I file a Revised Return ?
Revised return is filed when there were some mistakes when you originally filed your return and now you want to rectify that mistakes and file a rectified return. Yes, you can prepare revised return and file.
Are you Staying Abroad/NRI?
If you are living abroad but are not an NRI, ignore the next paragraph, read the third one directly.
For a Non-Resident, only income that is received or accrued in India is taxable NRIs, irrespective of their sex and age get the basic exemption of Rs.250000/-
Just scan and email us your documents at stbero@hotmail.com
You will then receive an E-Acknowledgement from us.
Take printout, sign them both and mail these to us.
Process Complete.
No. You need to file an Income Tax Return if your total taxable income exceeds the basic exemption limit before taking into account deductions.
Currently, the basic exemption limit is Rs250000. while for Senior Citizens (60 yrs. & above) it is Rs.3,00,000 (80 and above Rs. 500000).
You do not need to file an income tax return if your total taxable income does not exceed the basic exemption limit before taking into account deductions, even though you may have a PAN.
What are the steps for filing an Income Tax Return with us at our office?
1.Call us for an appointment.
2.Provide us requested documents
3.Your completed return is emailed/shown to you for your approval, just in case of some spelling errors or for any changes you may need.
4.The Return is is verified and cerified by our TRP and e-filed.
5.E-Acknowlegement is printed in 3 copies for your signature and then counter signed by our TRP. One copy is given to you.
6.You make your payment.
7.After a few days, the final Bangalore Income Tax acknowledgement is delivered to your address.
8.Process complete.
Can I view my return online?
Yes. You can view your return online, using the passwordwe generate for you.
Is support for manual preparation provided and filing of Income Tax Returns?
Yes. We support and full guidance for manual preparation and filing of income tax returns. We could provide you a certified print out of your return and you could yourself submit it at the Income Tax Office. If you would want us to file your returns manually, please call us for the applicable charges. On our part we advise you to follow the standard procedure which simple and quick as compared to the manual filing.
What is an ITR-V?
ITR-V stands for ‘Income Tax Return – Verification’ form.
This form is received when you e-file without using a digital signature.
Income Tax Department needs to verify the authenticity of income tax return when filed online without using a digital signature.
On receipt of ITR-V you have to sign the copy and we then submit to the Income Tax Department to complete the filing process.
Can I submit ITR-V anywhere else in India?
No, you cannot. From this year onwards, you have to compulsorily mail your ITR-V in a sealed A-4 envelope to the address mentioned above. Relax, because we will do this for you.
Is there any time limit for submitting ITR-V to Income Tax Department?
Yes, within 120 days of e-filing your return.
What is the Due Date for filing an Income Tax Return?
The Due Date to file your Income Tax Return is 31st July. Thus for financial year ended on 31st March, 2010, the due date of filing return is 31st July, 2010.
Does that mean that I cannot file return after the due date mentioned?
No, it does not mean so. Due date is different from last date. You can file return after the due date also. However in such case you will have to pay penal interest @ 1% per month for late filing.
What is Revised Return and can I file a Revised Return ?
Revised return is filed when there were some mistakes when you originally filed your return and now you want to rectify that mistakes and file a rectified return. Yes, you can prepare revised return and file.
Are you Staying Abroad/NRI?
If you are living abroad but are not an NRI, ignore the next paragraph, read the third one directly.
For a Non-Resident, only income that is received or accrued in India is taxable NRIs, irrespective of their sex and age get the basic exemption of Rs.250000/-
Just scan and email us your documents at stbero@hotmail.com
You will then receive an E-Acknowledgement from us.
Take printout, sign them both and mail these to us.
Process Complete.
Great Post !
ReplyDelete