ITR Filing in Sawai Madhopur

Types of ITR 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 residents of India with a salary up to Rs. 50 lakhs, income, property, and farming pay up to Rs. 5000, not for those with resources outside India, directors, unlisted securities, or other sources.

ITR-2

ITR 2 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 residents with up to Rs. 50 Lacs income, not maintaining books of account, and wanting to pay tax on the deemed basis under the Income Tax Act, 1961, excluding outsiders

ITR 5

This form is meant for persons other than individuals, HUF, companies, and persons filing returns in the 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) 139(4B) or 139(4C) or 139(4D) of the Income Tax Act, 1961 particularly.

What is the Procedure for ITR Filing in Sawai Madhopur?

The procedure to follow for filing ITR is-

• Complete a simple questionnaire provided by our team.
• Provide us with all the necessary documents as mentioned above.
• 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.

Final words on Income Tax Return Filing in Sawai Madhopur

To avoid adverse effects and fines for late filing of income tax returns, taxpayers should file their ITR within the time frame specified. In late submission, they must pay the relevant fine and try again before the deadline. The Income Tax Act of 1961 and the Income Tax Rules of 1962 are the two governing statutes that require an assessee to submit a tax return to the Department before the deadline at the end of each fiscal year.