ITR Filling is a yearly occasion relevant for a wide range of citizens whether it is an organization, LLP or Individual. The salary is burdened distinctively dependent on kind of citizen. We have made easy to comprehend bundles for annual assessment form documenting. If it's not too much trouble note these are not programming access expenses but rather a genuine CA Assisted ITR Filing Service
Filing of income tax return is a self-assessment method wherein the taxpayer needs to make a computation of taxable income earned during the previous year and the income tax payable thereon. Before filing the return, the due tax must be paid. The tax can be paid online or through challan 280 by depositing in bank with cheque or cash.
Filing of ITR is a mandatory requirement under section 139 of the Income Tax Act,1961 and non-filing of the same attracts a penalty Up-to Rs. 5,000/-. This penalty is over and above the interest or other consequences on non-payment of tax. However, if a genuine reason is shown to the satisfaction of the ITO, it may be waived off or reduced.
If the taxpayer has missed the due date of filing the Income tax return, the same can still be submitted as "belated income tax return" within the last date of the assessment year. However, the losses or accumulated depreciation cannot be carried forward, and in case there is any error the belated return cannot be revised.