Online ITR Services
- Expert Guidance & Accuracy:
Our team of experienced tax professionals ensures precise and compliant filing, minimizing the risk of errors and penalties.
- Time-Saving & Hassle-Free:
We handle the entire process efficiently, saving you time and reducing the complexity of income tax return filing.
- Tailored Solutions & Support:
We offer personalized tax strategies and dedicated support, optimizing tax savings while addressing unique financial situations.
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Overview
Our comprehensive tax services assist with the preparation, filing, and management of income tax returns for individuals, businesses, and organizations. Filing an income tax return is a statutory requirement where taxpayers report their income, expenses, deductions, and tax liabilities for a specific financial year to the authorities. These services ensure accurate and timely submissions, maximize tax benefits, and help clients remain compliant with regulations.
Key Aspects of Our Services:
Preparation and Filing Assistance: We help clients gather relevant documents, calculate taxable income, and determine eligible deductions. Our team guides users through the filing process, whether online or offline, ensuring accuracy in reporting and minimizing errors.
Compliance and Deadline Management: Tax regulations can be complex, and deadlines may vary. Our services keep clients compliant by managing these timelines, providing reminders, and assisting with any necessary revisions, amendments, or responses to notices.
Tax Optimization: Our professionals analyze each client’s financial situation to identify potential deductions, credits, or exemptions, helping minimize liabilities legally and maximize available benefits.
Benefits of Our Services:
Accuracy and Peace of Mind: Professional assistance reduces the risk of errors or omissions, minimizing the chance of audits, penalties, or legal issues.
Time and Cost Efficiency: We streamline the filing process, saving time and effort for clients, which is particularly valuable for complex cases like businesses or high-income individuals.
Ongoing Support: Many service providers offer year-round assistance, helping clients stay updated on tax law changes and remain prepared for future filings.
With a focus on accuracy, compliance, and tax savings, our services are essential for individuals and businesses seeking hassle-free and optimized tax filing experiences.
Taxamicus ITR Services
Filing for Salaried Individuals
- Maximize tax deductions
- Hassle-free filing process
- Quick turnaround time
Filing for Freelancers & Consultants
- Maximize expense deductions
- Simplified filing process
- Manage irregular income
Filing for Trusts & NGOs
- Tax exemption expertise
- Donation management
- Legal compliance guidance
Filing for Businesses & Professionals
- Tax optimization strategies
- Handle complex compliance
- Continuous audit support
Filing for Capital Gains
- Specialized capital gains advice
- Maximize exemptions
- Comprehensive reporting
Why Taxamicus ITR Services?
Tailored Tax Solutions
We provide personalized advice based on your unique financial situation, optimizing deductions and benefits specific to individuals, businesses, and NRIs.
Transparency & Timely Filing
Stay compliant with timely filing to avoid penalties and interest. Let us handle your filings for peace of mind!
Expert assistance
Our team of seasoned experts ensures accurate and compliant ITR filings, minimizing errors and maximizing tax savings.
Audit & Notice Support
Taxamicus provides continuous support even after filing, assisting with any audits, notices, or inquiries from tax authorities for free (If We have filled the return).
Overview of Refund (To your Bank Account)
An Income Tax Return refund occurs when the tax paid by an individual or entity exceeds their actual tax liability. This excess amount is refundable by the Income Tax Department after the taxpayer files their Income Tax Return and claims the refund.
Key Points on Income Tax Refund:
Eligibility:
- Taxpayers are eligible for a refund if they have paid more tax than required through advance tax, self-assessment tax, or Tax Deducted at Source (TDS).
Filing Process:
- To claim a refund, the taxpayer must file an Income Tax Return, declare the excess tax paid, and submit the return before the deadline. The refund claim is processed based on the information provided.
Refund Status:
- After filing, the taxpayer can track the status of the refund on the Income Tax Department’s website or the e-filing portal. The status updates as the return is processed and the refund is approved.
Refund Credit:
- Once approved, the refund is directly credited to the taxpayer’s registered bank account. In case of discrepancies or delays, the taxpayer is notified via email or SMS.
Interest on Refund:
- If the refund is delayed beyond a specified period (usually 3 months), the taxpayer is entitled to interest on the refund amount as per Section 244A of the Income Tax Act.
Adjustments by Tax Department:
- The department may adjust the refund against any outstanding tax liabilities from previous years. Taxpayers are notified if such adjustments are made.
Revised Returns:
- If a taxpayer realizes they’ve missed claiming a refund in the original filing, they can file a revised return within the specified time to correct the claim.
Understanding the ITR refund process ensures taxpayers don’t miss out on claiming the excess tax they are owed, helping manage their finances efficiently.
FAQ
Individuals or entities earning income above the basic exemption limit are required to file an ITR. This includes:
- Salaried employees
- Businesses and professionals
- Freelancers
- NRIs with income in India
- Trusts, NGOs, and HUFs
- Individuals earning capital gains
ITR forms vary based on the type of taxpayer and income sources. Some common forms include:
- ITR-1 (Sahaj): For individuals with income from salary, one house property, and other sources.
- ITR-2: For individuals and HUFs with income from capital gains or more than one house property.
- ITR-3: For individuals and HUFs with income from business or profession.
- ITR-4 (Sugam): For individuals opting for the presumptive taxation scheme.
- ITR-5 to ITR-7: For entities such as firms, LLPs, trusts, and companies.
If you miss the deadline, you can file a belated return with a late fee. However, interest on any outstanding taxes will also be charged. Late filing also reduces your chance to claim certain deductions and refunds.
Key documents include:
- Form 16: For salaried individuals (received from the employer)
- Bank statements: For interest income
- Form 26AS: Tax credit statement
- Investment proofs: For claiming deductions under sections like 80C, 80D, etc.
- TDS certificates: For tax deducted by other sources (e.g., freelancers)
Yes, if you notice any mistakes after filing, you can file a revised return before the end of the assessment year or completion of assessment, whichever is earlier.
After filing, the ITR needs to be verified within 30 days. You can e-verify using methods like:
- Aadhaar OTP
- Net banking
- Digital signature
- Sending a signed physical copy (ITR-V) to the Centralized Processing Center (CPC) in Bangalore.
You can track your ITR status by logging into the Income Tax e-filing portal and clicking on “View Return/Forms” to see the processing status.
If you’ve paid more tax than your actual liability, you are eligible for a refund. You can claim it when filing your ITR, and the refund will be processed and credited to your bank account after assessment.
Non-filing can attract a penalty of up to ₹10,000, along with interest on unpaid taxes. Filing incorrect details or false information may lead to additional penalties, scrutiny, or prosecution under tax laws.