Income Tax Return Filing for Individuals
- Filing ITR
- Filing Forms
- Flexible and Simple online Process
- Consultancy from Experts
- On time compliances
- Get your registration in 3-4 days
Introduction
At Tax and Services, we understand the significance of ensuring compliance with tax regulations and the complexities that individuals face when navigating the intricate landscape of income tax filing. Our dedicated team of legal experts is committed to providing comprehensive solutions tailored to meet your specific need
Fulfilling your income tax obligations is a crucial aspect of financial responsibility, and we are here to simplify the process for you. Our services for individual income tax return filing are designed to streamline the complex procedures, ensuring accuracy and compliance with the latest tax laws.
New Tax Regime And Old Tax Regime
Government has given option to choose between the new and old tax regimes to the taxpayers. The basic concept behind these regimes is that if you do not have investments to claim various deductions/exemptions under Sec.80 then you can opt for new tax regime and pay taxes at lower rates.
A person who choose to opt for new tax regime cannot claim following deductions-
- Certain allowances like LTA, HRA, allowances granted to meet expenses in performance of duties of office.
- Deductions under salary like Standard Deduction, Entertainment allowance and Professional tax.
- Standard Deduction in case of family pension.
- Several deductions available under Sec.80 like life insurance, health insurance premium, pension funds, provident fund, donation etc.
Advantages of Copyright Registration
Financial Benefits
Filing income tax returns allows individuals to avail themselves of various financial benefits, including tax refunds and credits. This can result in significant savings and increased disposable income.
Legal Compliance
Fulfilling your income tax obligations ensures legal compliance. It helps individuals and businesses avoid legal issues and penalties, promoting a responsible and law-abiding approach to financial matters.
Creditworthiness Improvement
Regularly filing income tax returns positively impacts creditworthiness. Many financial institutions consider tax return history when assessing eligibility for loans or credit, making it essential for building a favorable credit profile.
Documentation for Financial Transactions
Income tax returns serve as essential documentation for various financial transactions. They provide a comprehensive record of income, deductions, and investments, aiding in financial planning and decision-making.
Access to Government Benefits
Filing tax returns is often a prerequisite for accessing government-sponsored benefits and programs. From social security benefits to housing assistance, a history of tax compliance can open doors to a range of support systems.
Facilitation of Investment Opportunities
Individuals with a consistent record of filing tax returns may find it easier to explore and engage in various investment opportunities. Investors and financial institutions often require tax return information when evaluating potential partnerships or investment collaborations.
Documents Required For Personal ITR Filing In Jaipur
Income from salary
- Aadhar card
- Pan card
- Form 16 (having details of salary)
- Bank statement
- Investment under section 80
Income from house property
- Aadhar card
- PAN card
- Rent Receipt
- Bank Statement
- Investment under section 80
Income from Business or Profession
- Aadhar card
- PAN card of taxpayer
- PAN card of Entity
- Bank Statement
- Financial Statements
- Investment under section 80
Income from Capital Gain
- Aadhar card
- PAN card
- Bank Statement
- Receipt of sale of capital assets
- Receipt of purchase of capital assets
- Investment under section 80
Income from Other source
- Aadhaar card
- PAN card
- Bank statement
- Investment under section 80
Procedure For Filing ITR
