INCOME TAX RETURN
IT Return Charges - 2022-23 (Financial Year 2021-22)
Late Penalty Charges Of Rs. 1000 Will Be Extra
- ITR with Computation (Salaried Cases) (Rs. 499)
- ITR with Computation (Self Employed/Business Cases) (Rs. 799 )
- CA Certified ITR with Computation (Salaried Cases (Rs.999)
- CA Certified ITR with Computation (Self Employed/Business Cases) (Rs.1299)
- ITR with P&L, Balance sheet (Rs.1599)
- ITR with CA certified Balance sheet, P&L (Rs.1999)
- ITR with CA certified Balance sheet, P&L & UDIN(Rs.2800)
- ITR with P&L, Balance sheet (ITR-5/6/7 Company (Rs.2499)
- ITR with CA certified Balance sheet, P&L (ITR-5/6 Company) (Rs. 3999)
- UDIN on CA Certified Documents Rs.1599)
- Form 10E-Filing (Rs. 1799)
- Form 10BA-Filing (Rs. 499)
- Form 101E (Rs.599)
Income Tax Return
An income tax return is a form where taxpayers declare their taxable income, deductions, and tax payments. This procedure of filing income tax returns is referred to as income tax filing. While filing, the total income tax you owe to the government is also calculated. If you’ve paid more tax than needed for the financial year, the IT Department will refund the extra money to your account. If you have underpaid taxes for the year, please pay the remaining amount, and then file your income tax returns. Income tax return form ranges from ITR 1 to ITR 7, used for different types of income. Some forms are longer than the others, and they may need additional disclosures such as balance sheet and a profit and loss statement information.
Process for ITR Filing
You can file your income tax returns online, either on the income tax department’s website or with us on legalprint.in. Income Tax filing or e-filling is made easy on legalprint.in. You can e-file your returns within just 7 minutes!
Documents Required For ITR Filing
- Pan Card of the taxpayer/ Entities PAN Card
- Aadhaar Card of the Taxpayer
- Cancelled Cheque
- Bank Account Statement
- Financial Statements
- Investment/ expenses u/s 80
- Form 16
ADVANTAGES
Not filing ITR on time may lead to interest on the tax payable.
There is a cost of filing delayed ITR! Filing of ITR after the due date may lead to a penalty up to Rs 10,000 as per the Income Tax rules.
The Income Tax department may send a notice if not filing ITR before the due date. And that may become an unwanted headache for you. Hence, it is always better to file ITR on time.
It is easier for ITR filers to get their loan requests approved by lenders. When you apply for a loan, the bank would ask you to provide a copy of your ITR statement as proof of income statement.
As per the Income Tax rules, you can carry forward losses to subsequent years if filing ITR before the due date. This provision will help you in reducing your tax liability from any future income.
