INCOME TAX

INCOME TAX SERVICES

Income Tax Return filing (ITR Filing)

• Filing ITRs for Individuals, HUFs, Firms, LLPs, Companies, and Trusts.
• Preparation and submission of forms like ITR-1 to ITR-7.

Defective Return (Sec 139(9))

• An Income Tax return may be treated as defective if Mandatory information or documents are missing.
• Errors are identified by the Income Tax Department during processing.
• Response can be submitted within 15 days from the date of receiving the notice.

Updated Return (ITR -U)

• Section 139(8A) of the Income Tax Act, 1961, allowing taxpayers to update their income tax returns even after the original or belated return has been filed.
• Can be filed within 24 months from the end of the relevant assessment year

Rectification of Return (Section 154)

• Return must be processed under Section 143(1) for filing rectification
• Rectification can be filed if there is :-
  • Calculation errors.
  • Incorrect details of deductions or exemptions.
  • Mismatch in tax credit (TDS/TCS) details with Form 26AS.
  • Incorrect data entry (e.g., PAN, name, etc.).
  • Mistakes in carry-forward of losses.
• Rectification request can be filed within 4 years from the end of the financial year in which the order was passed by the assessing officer.

Projections (CMA Data , Projected and Provisional Balance Sheet)

Tax Advisory

• Advice on tax-saving investments, deductions, and exemptions.
• Handling capital gains computations for property sales or securities.

Registration as a Legal heir

Response to Income Tax Proceedings

Advance tax calculation and Payment

Advance tax can be paid in 4 instalments: