Income Tax Return Filing in Bikaner

Types of ITR Forms/Income Tax Return Forms

Below here we will be discussing about different types of ITR forms:

• ITR-1/SAHAJ is for residents with salary income, property of one house, miscellaneous sources, and farming paying up to Rs. 5000.
• IRT-2/SUGAM is for individuals and HUFs who do not have business income.
• ITR 4 applies to individuals and firms with a total income of Rs. 50 Lacs, excluding those with resources outside India or who are directors or hold unlisted securities.
• ISA-7 is for companies filing returns under Section 139 of the Income Tax Act, 1961.
• Other forms are for lottery prizes, buying and keeping horserace and paying unique rates under section 115BBDA or section 115BBE.

What is the Procedure for ITR Filing in Bikaner?

The procedure to follow for Income Tax Return Filing in Bikaner-

• Complete a simple questionnaire.
• Provide us with all the necessary documents.
• Verification Needed
• File your tax return
• Get your Computation Form

Why should you file ITR in Bikaner?

1. For Easy Loan Approval
2. Proof of Income
3. Filing of ITR avoids fines
4. Claiming Refund
5. Required for VISA application

What is the penalty for failure to pay income tax?