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Business Tax Return Filing

  • Filing ITR Return
  • ITR file in 2-3 days
  • Hassle-Free Process
  • Qualified Expert Team
File Your Business Tax Return
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Overview

Income Tax  Return Filing- an Overview

In India, businesses are required to file their tax returns annually. The tax filing process depends on the type of business entity, such as a sole proprietorship, partnership, limited liability partnership (LLP), or private limited company. Here’s a brief overview: Businesses generally need to file their income tax return using the appropriate form based on their legal structure:
  • Sole Proprietorship and Individual Business Owners:
    • File income tax returns using ITR-3 or ITR-4 forms.
    • Include business income along with personal income.
  • Partnerships and LLPs:
    • File income tax returns using Form ITR-5.
    • Provide details of income, deductions, and profits for the partnership or LLP.
  • Private Limited Company:
    • File income tax returns using Form ITR-6.
    • Include details of financial statements, profit and loss account, balance sheet, and other relevant documents.

Types of Returns

Types of Income tax Return

  • ITR 1: This filing is for individuals with income from Salary, Pension, House Property, or Other Sources up to INR 50 Lakhs.
  • ITR 2: Designed for Individuals & HUF with income from salary, pension, house property, capital gains, foreign assets/income, or other sources.
  • ITR 3: For Individuals & HUF with income from profit and gains of business or profession (PGBP).
  • ITR 4: Intended for Individuals or HUF with income from PGBP who have opted for the presumptive income scheme.
  • ITR 5: Applicable to Firms, LLPs, Body of Individuals (BOI), and Association of Persons (AOP).

  • ITR 6: For all types of companies, including Public Limited Company, Private Limited Company, OPC, except Section 8 Company

 

Process

How to File Income Tax Return

1

Submit Documents

2

Verification of Documents

3

Selection of Appropriate Form

4

Preparation of Your Return

5

ITR Filed & Ack. Generated

Due Date

Due date for filing Income Tax Returns (ITR) in India varies depending on the type of taxpayer and the nature of income

    • For Individuals (not required to be audited)
      • The due date for filing ITR for the financial year ending on March 31 is usually July 31 of the assessment year.
    • For Businesses/Professionals (requiring audit)
      • The due date for filing ITR for entities that are required to be audited is usually September 30 of the assessment year. These dates are subject to change, and the government may extend the deadline in certain circumstances.
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