We, at Texacorp, offer comprehensive solutions to individuals and companies for filing income tax returns. For dedicated income tax return filing services from our team of accomplished tax advisors, you can get across to us.
Filing your income tax involves certain challenges, considering the number of transactions carried out throughout the financial years. A professional support in income tax filing and auditing ensures that you get through this process seamlessly. Given that you may run into legal hassles in case of any unintended mistake on your part, it is recommended to seek income tax return filing services from an established company. Reach out to us with your requirements and we will file the same, collaborating with you.
What is an income tax return?
Your income tax return, also referred to as business tax return, refers to a statement listing your expenses and income throughout the financial year. This return also declares any tax, that you might be paying on your profits. With income tax return filing services from experienced tax advisors and accountants, you can get your TDS returns and other deductions on time.
Your income tax return also includes the details of liabilities and assets, that your business holds. This indicates, that creditors and debtors of business, fixed assets and loans are declared in your income tax return. We provide professional income tax return filing services at affordable rates.
Who has to file the income tax return?
- Whether or not you need to file an income tax depends on the nature of your business. In case your annual income is more than INR 2.5 lakhs, you should be filing your income tax returns. With our affordable income tax return filing services, you can seamlessly adhere to the tax norms.
- In case you run a sole proprietorship business, you need to state your personal income as well as business income on the same return. Personal income includes interest, rent from property and salary.
- In case you find that before deductions, your total income is more than the basic limit of paying tax, it is mandatory to file your income tax return. Even if you are running at a loss in business, you need to pay your income tax. For professional income tax return filing services in India, reach out to us.
- LLPs (Limited Liability Partnerships), firms and companies need to file their business tax return. They need to file a return both in case of profit and loss. Even if they do not undertake any operation, they have to file a return. For companies, LLPs and firms, the tax rate is 30%.
Auditing income tax
Besides providing income tax return filing services, we assist taxpayers with the audit process. If you are a professional, and your annual turnover exceeds INR 50 lakhs, you need to undergo a tax audit. This figure is INR 1 crore for businesses. In this case, you need to get the audit done from chartered accountants.Our experienced chartered accountants and tax consultants will help you through the process. In case you have suffered a loss in business and want to carry forward the same, you need to get an audit done.
With our income tax return filing services, you can adhere to the tax norms of India. Reach out to us for a quote. You will benefit from our steadfast services.