Income Tax Return (ITR) filing is an annual obligation for individuals, businesses, and other entities to declare their income and pay taxes as per Indian tax laws. Filing ITR not only fulfills a legal requirement but also provides individuals and businesses with benefits such as income proof, eligibility for loans, and the ability to claim tax refunds.

Filing ITR ensures compliance with tax regulations, establishes financial credibility, and provides documentation of income. With Vision Tax’s guidance, the filing process is streamlined, allowing taxpayers to focus on accurate and timely submissions.

• Legal Compliance: Filing ITR fulfills a legal obligation under the Income Tax Act, avoiding penalties.
  

• Income Proof: Acts as documented proof of income, which is essential for financial transactions and loan applications.
  

• Eligibility for Loans and Credit: Facilitates eligibility for loans and other financial products.
  

• Claiming Tax Refunds: Enables taxpayers to claim refunds on excess tax paid or TDS deducted.
  

• Financial Record: Provides a clear record of income, investments, and expenses.

1. PAN Card: A valid PAN Card is necessary for filing ITR.

2. Income Details: Details of income from salary, business, investments, or other sources.

3. Bank Account Information: Bank account details for receiving tax refunds, if any.

4. TDS Certificates (Form 16/16A): Certificates of tax deducted at source, if applicable.

• Individuals and Entities: Individuals, businesses, and other entities with income above the minimum exemption limit.
  

• Mandatory for Certain Individuals: ITR is compulsory for certain individuals such as company directors, NRIs with taxable income, and those owning foreign assets.
  

• Age and Income Factors: Filing requirements may vary based on age, income source, and category.

1. Collect income details and TDS certificates (if applicable).

2. Calculate total income, applicable deductions, and taxable income.

3. File the ITR on the Income Tax Department’s e-filing portal.

4. Verify the ITR submission, either electronically or via physical submission.

5. Receive acknowledgment upon successful filing.

• PAN Card: PAN of the taxpayer.
  

• Income Proof: Salary slips, business income details, or investment statements.
  

• TDS Certificates (Form 16/16A): Certificates for tax deducted at source, if applicable.
  

• Bank Statements: For bank account details and income verification.
  

• Investment Proofs (for deductions): Documents for claiming deductions under Sections 80C, 80D, etc.

1. Collect Income and Deduction Details: Gather income proofs and deduction documents.

2. Calculate Taxable Income: Compute total income, deductions, and tax liability.

3. File ITR Form: Complete the appropriate ITR form on the e-filing portal.

4. Submit and Verify ITR: Submit ITR and complete verification.

5. Receive Acknowledgment: Obtain the ITR acknowledgment for future reference.

Our Fees: Rs. 4,000 + GST
Government Fees: No government fee for individual ITR filing; charges may apply for late filing.

Processing generally requires 1-2 days.