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Income Tax Return Filing

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Income Tax Returns are required to be filed by every assessee conducting any business or earning any income. The due date for filing of assessee whose accounts are not subject to audit is September 30, 2021. Our team of experts guide you to mitigate your income tax liability by tax planning and other measures. Our Team adopts a professional approach of filing of Income Tax Returns.

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You cannot go to jail for making a mistake or filing your tax return incorrectly. However, if your taxes are wrong by design and you intentionally leave off items that should be included, the IRS can look at that action as fraudulent, and a criminal suit can be instituted against you.

If a return is filed beyond the due date, then fees payable will be ₹5,000, otherwise, it will be ₹10,000.

If your income is below ₹2.5 lakh, you do not have to file Income Tax Returns (ITR).

The amount of HRA your employer, pays you. If you live in a metro city, 50% of your salary is eligible for HRA deduction. If you live in a non-metro city, 40% of your salary is eligible for HRA deduction. 10% of your basic pay minus the total rent you pay.

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