Income Tax Services Overview

FinTax24 provides comprehensive income tax solutions for individuals, businesses, and enterprises. Our expert team handles registration, filing, amendments, and compliance across all income tax categories.

Registration & Setup

Who Needs PAN & ITR Filing?

• Individuals with income exceeding ₹2.5 lakhs (₹5 lakhs for senior citizens)
• HUF with income exceeding ₹2.5 lakhs
• Businesses with turnover exceeding ₹40 lakhs
• Professionals with income exceeding ₹50,000

Our Registration Services

1. PAN Application - Online PAN card registration in 24 hours
2. ITR Registration - Online ITR filing with government verification
3. CA Consultation - Expert guidance on tax planning and optimization
4. Document Preparation - Complete documentation for filing

Income Tax Filing

ITR Forms Available

• ITR-1 (Sahaj) - For salaried individuals and pensioners
• ITR-2 - For individuals with capital gains and foreign assets
• ITR-3 - For self-employed individuals and partnerships
• ITR-4 (Sugam) - For presumptive income schemes
• ITR-5 - For firms and LLPs
• ITR-6 - For companies
• ITR-7 - For trusts and associations

Our Filing Process

1. Document Collection - Gather all necessary financial documents
2. Income Calculation - Professional calculation of taxable income
3. Deduction Optimization - Maximize available deductions (80C, 80D, etc.)
4. Form Preparation - Complete ITR form filing with accuracy
5. E-verification - Online verification with government
6. Tracking - Real-time status tracking of your ITR

Tax Saving Strategies

Deductions Available (Section 80)

• 80C - Investment deductions (up to ₹1.5 lakhs)

  • LIC premiums
  • PPF contributions
  • School fees
  • Home loan principal
  • ELSS mutual funds

• 80CCD - Pension scheme contributions

• 80D - Medical insurance premiums

• 80E - Education loan interest

• 80G - Charitable donations

• 80TTA - Savings account interest

Common Tax Planning Moves

1. Maximize Section 80C contributions
2. Invest in tax-saving mutual funds (ELSS)
3. Claim all eligible deductions
4. Time capital gains strategically
5. Plan business expenses effectively

Amendments & Corrections

When to File Revised ITR

• Discovered income was missed
• Wrong filing status selected
• Calculation errors detected
• Additional supporting documents available

Amendment Process

1. Identify error or missing information
2. File revised ITR within 2 years of original filing
3. Provide correction statement to tax officer
4. E-verify amended return

Compliance & Audits

Audit Requirements

• Turnover exceeds ₹1 crore (Business Income)
• Cash transactions exceed 5% of turnover
• GST registration required

Audit Support Services

• Statutory audit management
• Tax audit representation
• Documentation verification
• Audit report preparation

Advanced Income Tax Services

Capital Gains Management

• Short-term capital gains (STCG) - Taxed as per slab rate
• Long-term capital gains (LTCG) - 20% tax with indexation benefit
• Property transaction taxation
• Securities trading taxation

International Taxation

• Foreign income reporting
• FEMA compliance
• Double taxation relief
• NRI taxation services

Advance Tax & TDS

• Advance tax calculation and payment
• TDS compliance reporting
• TDS certificates and reconciliation
• Quarterly payment planning

FAQ

Q: When is the ITR filing deadline? A: July 31st for the financial year, August 31st if audit is required.

Q: What happens if I file ITR late? A: Late filing penalty up to ₹5,000 for individuals and ₹10,000 for others.

Q: Can I file ITR myself? A: Yes, through e-filing portal, but professional help ensures compliance and optimization.

Q: How long does ITR processing take? A: Usually 3-6 months for refund or tax demand issuance.

Q: What documents do I need for filing? A: Last 2 years bank statements, salary slips, investment proofs, Form 16, and property documents.

Next Steps

1. Contact Our Team - Free consultation on your tax situation
2. Document Review - We’ll assess your filing requirements
3. Tax Planning - Optimize your tax liability legally
4. Filing Execution - Complete and file your ITR
5. Post-Filing Support - Tracking and follow-up

Ready to file your income tax? WhatsApp us now for expert guidance!