Income Tax Return
We provide all kind of Income Tax Return service in Vadodara and major cities of India. No matter, whether it is Salaried, Business Professional, Senior Citizens, Super Senior Citizens, Non Resident and Hindu Undivided Family.
Devesh Purani & Associates is among the Top Tax Consultants in Vadodara, India, We, provide useful solutions to save you money on your Income Tax. We understand the nitty-gritty Of Indian Taxation Law! We provide all our solutions based on the rules & regulatations set by the Government Authority.
Consult Devesh Purani & Associates for all kind of Income Tax related Queries and Concerns. We provide quality and prompt service in Akota, Vadodara, Gujarat and other cities of India.
Income Tax Return service in Vadodara
- We focus on both tax saving and tax compliance
- Assured accuracy in all tax filing cases
- Tax team assesses and files for all tax deductions
- Instant reply to all your tax queries
- Year round support post-filing
Who to File
- Company & Partnership Firm (including LLP) are required to file their ITR mandatorily (i.e even if they incur loss during any financial year, ITR is required to be filed).
- Resident Individual, who is the beneficial owner of any asset located outside India or has signing authority of any account outside India.
- Any Assessee whose Gross Total Income ( GTI i.e. income before claiming exemption u/s 54, 54B, 54D, 54EC, 54F, 54G, 54GA, 54GB and deduction under Chapter VI-A) is more than the basic exemption limit, then the assessee is required to file ITR.
Which ITR Form to be filed
ITR-1
ITR-1 is for Resident Individual, whose total income is upto INR 50 Lakhs and includes:
- Income from Salary or Pension; or
- Income from one House Property (except the cases where loss from previous year is to carry forward); or
- Income from Other Sources (except Winning from Lottery and Income from Race Horses)
- Income from Agriculture up to INR 5000.
ITR-2
ITR-2 is for Individual or Hindu Undivided Family (HUF), whose total income includes:
• Income from Salary or Pension; or
• Income from House Property; or
• Income from Capital Gain; or
• Income from Other Sources (including Winnings from Lottery and Income from Race Horses)
• Income from Agriculture more than Rs.5000
• Having any Foreign Asset or Foreign Income
Also, if you are a Director of a company or if you have investments in unlisted equity shares at any time during the financial year, ITR-2 needs to be filed. ITR-2 is not for any person who has income from Business or Profession.
ITR-3
ITR-3 is for Individuals and HUF having income from Profits and Gains from Business or Profession (PGBP) from a proprietary business and may also include:
• Income from Salary or Pension; or
• Income from House Property; or
• Income from Capital Gain; or
• Income from Other Sources (including Winnings from Lottery and Income from Race Horses)
ITR-4
• Up to INR 50 Lakhs and • Profits from Business or Profession which is computed under Section 44AD, 44ADA, 44AE
ITR-5
ITR-5 is applicable for firms, Limited Liability Partnership (LLP), Association of Persons (AOP), Body of Individuals (BOI) and Artificial Juridical Person (AJP).
ITR-6
ITR-6 is applicable for Companies other than Companies claiming exemption under Section 11(i.e. Income from property held for charitable or religious purposes).
ITR-7
• 139(4A) – related with trust income
• 139(4B) – deals with political parties
• 139(4C) – deals with scientific research
• 139(4D) – related with the university and college
FAQ's
Process to claim a tax refund: In order to claim an income tax refund, it is mandatory to file an ITR. Once the I-T department verifies your ITR and the refund claim made by you, it will communicate the outcome to you. If you have filed ITR electronically, the I-T department will send you an e-mail or an SMS. Refund, if accepted as due, will normally be credited to the bank account you had mentioned for this purpose in your tax return.
• Through Aadhaar Number OTP
• Generation of EVC
• Through Net banking
• Through Email id and Mobile Number
• Pre-validating Bank Account Number
• Through Demat Account Number
• E-Verify through available EVC (If already having the same)
No worries! Devesh Purani & Associates would assist you and provide you service at ease. We shall collect few important imformation and accordingly we shall prepare draft Income Tax Return for you. Once you confirm then we shall proceed for file your Income Tax Return.
You can visit our Akota, Vadodara office for all financial or Income Tax related work or if you are from other cities in India then we can consult over a Zoom, MS-Teams or Online meetings also.
We are committed to provide all financial related quality service at affordable price and our packages are covered online, offline users.
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