Income Tax Services
As a citizen of India, you have to pay tax to the government if your salary is above 5 lakhs. This tax is often taken on your income basis in a direct or an indirect way.
As a responsible citizen, one must pay the right amount of tax on time as this money is only used to make the country better in terms of infrastructure, health, education, etc.
Well, the entire process of income tax submission can be tiring, but with everything going digital these days, things have become a lot easier. Now, you can file income tax return electronically.
Income Tax Submission Procedure
- First of all, you have to get yourself registered on the online site of Income Tax Department, tax filing section.
- Under this, you need to mention you PAN or Personal Account Number, name, birth date, and a password. The PAN you provide will be your user ID for further work.
- Then, comes the process of filing the income tax return form. Here you can either save the form to your desktop, fill the requisite information, then upload it back to site or you can directly fill an online form. Filing the form by the first process makes you re-check it, and avoid any mistake.
- There are generally 3 types of forms available on the official site:
- ITR 1- This is for the citizens who are earning a salary, or getting a pension, from various sectors other than the lottery.
- ITR 2- This form is for those who are earning gains from the capital.
- IRT 3, IRT 4, IRT 4S- These forms are for individuals who own a business or a firm.
- You need to have the following documents prepared during the e-filing-
- PAN card
- Form 16
- Details of your investments
- Statement of interests
- TDS certificate
- All the files related to home loans, insurance etc.
- After this, you need to download a form, named - 26AS which gives you the synopsis of the tax which is paid to your PAN or ID. Now, you need to match your tax return application with this form.
- Also, if you earn a salary of 50 lakh and above then you need to disclose the value of all your assets and liabilities.
- At last, upload the filled form on the official website. This finishes work on your part.
- When you submit the form successfully an ITR form acknowledgment number is generated. Keep in mind to submit the tax return form with a digital signature. In this case, you get ITR- V which is verified by the concerned authority.
- This way you successfully e-file your income tax returns.
Get the Income Tax Filled With Us
The entire process of submitting an income tax can be quite cumbersome and tiring. Thus, it is best to hire legal services providing company for best results.
Legal-N-Tax Advisory is a leading legal service providing company and provides an array of services. Talk with us to know more