Income Tax Filing for Professionals/Businesses
No worries at all, as you leave the calculations as we know what really matters. We have all the knowledge and expertise to support your business.
Tax Returns that Save the Maximum for You
Keeping it simple for you, we deliver all taxation related support you may require for your business, plus some that may surprise you. Our experience works to give you peace of mind when it comes to advising you on the best course of action.
Our team is established to provide clients with a quality service that is second to none and delivers a level of attention that exceeds all your expectations. Our vision has always been to provide clients with exceptional services that are specific to their needs and make every client feel valued.
With our proactive approach, our services get you the best whenever a tax-saving opportunity arises.
Advice that Makes You Stay on Top
With our expertise and experience, we bring value to your business by devising deliverables that will help you go forward.
We are a good match for your business; just let us know your requirements.
What is advance tax, and when do I need to submit it?
Generally, the assessment of income is made only after the year has passed. Advance tax is the prepayment of your tax liability in the year you earn it. In instances where the tax liability is more than Rs.10,000, then advance tax is payable by the assessee as per the due date.
- 15% – 15th June
- 45% – 15th September
- 75%- 15th December
- 100% – 15th March
ITR For Businesses/Professionals
Have any questions?
Is it necessary to keep a record of copy of the return filed as proof?
Yes, it is advised to keep the copy of returns for at least six years or better to maintain it as long as possible. Under the Income Tax Act, legal proceedings can be initiated up to 6 years before the current financial year. In some instances, the proceedings can be initiated even after six years.
Is income under freelancing activity taxable?
Yes, all the income earned from any freelancing activity is taxable under the Income Tax Act under specified provisions.
What are the expenses allowed as a freelancer/professional?
All the expenses that are directly related to your profession as a freelancer can be claimed as deduction from the total income. For instance, office stationery, telephone bills, electricity bills, rent, salaries to staff, etc. are allowed as valid expenses.
What all is included in my income as a professional?
Any amount received by you against the services provided to your clients will be considered as your income. Your taxable income includes income from salary, income from house property, income from capital gain, and income from other sources.