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ITR Filing in Jhunjhunu

Jhunjhunun is a city located in the state of Rajasthan, India. The city has recently gained popularity as an ideal place to file Income Tax Returns (ITR). There are several reasons why Jhunjhunun is becoming the preferred choice of many individuals and businesses when it comes to filing their ITR. It is an excellent destination for individuals and businesses looking to file their Income Tax Returns. With easy accessibility, affordable costs, qualified professionals, speedy processing, and state-of-the-art infrastructure, Jhunjhunun is fast becoming the go-to place for tax filings in India. In this article, we will discuss why Jhunjhunun is an ideal location for filing ITR.

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Overview of ITR Filing

ITR or Income Tax Return is an annual document that taxpayers in India have to file. It is a declaration of income earned by an individual, Hindu Undivided Family (HUF), company, Association of Persons (AoP), an association of individuals, etc. for a particular financial year. All taxpayers are required to file an ITR if their annual income exceeds the taxable limit prescribed by the Government of India. Filing ITR helps the government to accurately track and assess the tax liability of individuals and companies.

Advantages of ITR Filing in Jhunjhunun

  • 1

    Easy loan processing

    When applying for high-value loans like home and car loans, most banks and NBFCs require an ITR of the last three years from individuals. So if you want to take out a loan in the future, you should file your tax return regularly.
  • 2

    Proof of Income

    The ITR confirmation form is the best proof of income or finding out the net worth of an individual. By looking at the ITR form, you can analyze the type of income and taxes paid by an individual.
  • 3

    Filing of ITR avoids fines

    By filing a tax return, you can avoid the penalties imposed on taxpayers who do not file a tax return by the due date.
  • 4

    Claiming Refund

    In case you have already paid advance tax or your employer has deducted any TDS or any investments by the authorities, you can claim a tax refund if excess tax has been paid by any concerned authority.
  • 5

    Required for VISA application

    For those who want to move abroad, ITR is the most important document required by the foreign embassy. Filing income tax returns regularly is important.

Procedure for filing ITR

The procedure to follow for filing ITR is-

  • Complete a simple questionnaire provided by our team.
  • Provide us with all the necessary documents.
  • We will analyze all the details and after verification from the client, we will file your tax return before the due date and protect you from any penalty.
  • After completing the income tax return, we will inform you further and also provide you with the computation and return form.

Types of ITR Forms/Income Tax Return Forms

Filing taxes in India can be a daunting task, especially for those who are not familiar with the various ITR forms. We’ll discuss each form and how to choose the right one for your specific needs.

ITR-1 OR SAHAJ

This form is for individuals who are residents (other than ordinarily residents) who have a salary up to Rs. 50 lakhs, having salary income, property of one house, miscellaneous sources (interest and so on), and farming pays up to Rs. 5000.

ITR-2

This ITR is for Individuals and HUFs who do not have business income.

ITR-3

ITR 3 is meant for individuals and HUFs with business income.

ITR-4 or Sugam

ITR 4 applies to individuals, HUFs, and firms who are residents and have a total income of up to Rs. 50 Lacs, do not maintain their books of account and want to pay tax on the deemed basis under the provisions of the Income Tax Act, 1961.

ITR 5

This form is meant for persons other than individuals, HUF, companies, and persons filing returns in ITR 7 form.

ITR-6

This form is for companies other than organizations exempted under Section 11 of the Income Tax Act, 1961.

ITR-7

This structure is intended for persons including companies who need to file a return under Section 139(4A) or 139(4B) or 139(4C) or 139(4D) of the Income Tax Act, 1961 particularly.

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