Partnership firms income tax return is required to be filed with the government for each financial year. It has to be filed irrespective of loss or profit of the partnership firm. If the partnership firm has no business or it's just started the business, then also the annual income tax return has to be filed with the tax department. Filing of partnership firm's income … [Read more...] about 10 things to remember while filing Partnership firms tax return
Income Tax
As a director, which income tax return form (ITR) should you file?
If as a director of a company, you are thinking of filing the income tax return form SAHAJ (ITR-1) for your salary income, then read this article before filing. Many taxpayers are confused while selecting the right form for their annual income tax filing. We have 7 different types of income tax return forms (ITRs) prescribed by the government of india for filing annual … [Read more...] about As a director, which income tax return form (ITR) should you file?
Income tax return filing for companies: All you need to know
In India, a company is registered with the ministry of corporate affairs (MCA). Post incorporation, a company becomes a separate legal entity. Permanent account number (PAN), TAN and other statutory certificates including PF and ESI registration, get issued in the name of the company at the time of getting certificate of incorporation. Registration related documents are sent … [Read more...] about Income tax return filing for companies: All you need to know
ITR-5: Income tax return form for partnership firms
Income tax return filing deadline for partnership firms whose accounts are not required to be audited under section 44AB is 31st July. For the previous year 2022-23, the due date was 31st July 2023. For the financial year 2023-24 (assessment year 2024-25), the due date will be 31st July 2024. In case books of accounts are required to be audited by a chartered accountant in … [Read more...] about ITR-5: Income tax return form for partnership firms
When to choose income tax return form ITR-4 for filing in FY 2022-23
Income tax return form ITR-4 is applicable to small business owners and professionals who wants to declare their income under the presumptive taxation scheme. In Income tax we have three sections as per which you can declare your income under the presumptive taxation scheme; ITR-4, which is also known as SUGAM, is a very simple income tax return form compared to … [Read more...] about When to choose income tax return form ITR-4 for filing in FY 2022-23