Income Tax Return (ITR)

Description

Income Tax Return (ITR) is a legal form submitted to the Government of India, in which individuals, professionals, or business entities declare their total income, tax paid, deductions, and other financial details.
Filing ITR is mandatory if your income exceeds the prescribed tax exemption limit (currently ₹2.5 lakhs annually for individuals).

Filing ITR is beneficial not only for tax compliance, but also for purposes like:
– Applying for bank loans
– Visa processing
– Tenders and contracts
– Claiming tax refunds
– Showing financial proof in various institutions

There are different ITR forms such as ITR-1, ITR-2, ITR-3, etc., based on the type of income (salary, business, capital gains, etc.).

The due date to file ITR for individuals is generally 31st July of every year (for the previous financial year).
Late filing can attract penalty or interest under the Income Tax Act.

Required Documents :

1. Personal Documents:

• ✅ PAN Card

• ✅ Aadhaar Card

• ✅ Bank Account Details (Account Number & IFSC Code – for refund)

• ✅ Form 26AS (Tax credit statement – can be downloaded from the Income Tax portal)

• ✅ Photograph (in some cases, usually not required for online filing)

2. Income-Related Documents:

A. For Salaried Individuals:

• ✅ Form 16 (Provided by employer)

• ✅ Salary Slips (Optional but helpful)

B. For Business or Professional Income:

• ✅ Balance Sheet and Profit & Loss Account

• ✅ GST Return (if applicable)

C. Other Income Sources:

• ✅ Bank Passbook / Account Statement (for savings account interest)

• ✅ Fixed Deposit Interest Certificates

• ✅ Rental Income Details (if you earn from property rent)

• ✅ Capital Gain Statements (for sale of shares, mutual funds, property, etc.)

3. Deductions and Investment Proofs (for claiming tax benefits):

• ✅ LIC / PPF / NSC Investment Proofs

• ✅ Home Loan Interest Certificate

• ✅ Education Loan Interest Certificate

• ✅ Medical Insurance Premium Receipt (Section 80D)

• ✅ Donation Receipts (Section 80G)

4. Tax Payment Proof:

• ✅ Advance Tax or Self-Assessment Tax Payment Challans (if you have paid any tax directly)

Next Step:
Instructions:
To avail the Income Tax Return (ITR), ensure all necessary documents are ready and valid. After placing your order, kindly send the above-mentioned documents via WhatsApp to 8127089619 for verification and further processing.