Income Tax filing for Companies

All companies filed in India are needed to file income tax returns each year on or before September 30th. Under the Income Tax Act, company tax return filing comes under two categories, namely domestic company or foreign company.
Companies like Private Limited Company, One Person Company, or Limited Company are categorized as a domestic company In India and are needed to go through the method for income tax return filing for pvt ltd company.

Filing ITR made easier than ever

is just few clicks, it's really simple!

with pareekg.com

Enquire Now

ABOUT

The income made by the individual is subjected to tax. The tax levied on the salary of a person is Income tax, which is levied and handled by the Central Government. Such tax on income received is payable in the same financial year wherein it is collected in the form of advance tax. But the suggestion and estimation of the income as well the tax liability is given in the Assessment Year. This intimation form is called Income Tax Return.

Businesses possessing a turnover of up to Rs.2 crores can be listed under the presumptive taxation scheme. The prices of presumed income chargeable to tax below the scheme are priced at 8% for the financial year 2016-17. Hence, if a business has a complete turnover of Rs.1.0 crores in 2016-17, then the income liable to tax would be Rs.8 lakhs. 

Benefits of Income Tax Return for Business Person

download
Allows carry forward of losses

Most businesses in their initial years face losses from the business. The business loss or capital losses can be carried forwardup to 8 years if the ITR is filed. This loss can also be adjusted against the future income that lowers taxable income in the future. If ITR is not filed, the taxpayer is deprived of this benefit. 

download (1)
Define financial worth

The ITR filed with the Government defines the financial worth of the taxpayer. The track of ITR shows the financial capacity and also increases the capital base of a person. Hence, the track of income and financial worth is decided by the previously filed ITR. The investors and institutions look forward to returns filed to know the capacity of the business. 

download (2)
Loan Processing and high-risk cover

The numbers and the capital base defined by the income tax return is helpful for loan processing. Higher the financial worth, theeasier the loan processing. The same applies to high-risk cover insurance. The ITR is a considerable document for making decisions in this regard.

download (3)
Income tax refund

Filing tax returns is not merely done to fulfill the moral and social obligation by every citizen of the nation. If you want to claim an income tax refund, filing of income tax return becomes mandatory. 

PROCESS FOLLOW

1-2 HOURS
Select Package

Start by selecting the appropriate one, fill out the required forms, or simply speak to our experts online for assistance.

2 WORKING DAYS
Obtain Information and Documentation

We will collect the information and required documents from the taxpayer manually.

3-4 WORKING DAYS
Computation of payable Income Tax

We will compute the payable tax based on the information provided by the applicant.

7-8 WORKING DAYS
Submission of ITR6 form

We will fill the ITR6 form online and will share its acknowledgment

DOCUMENTS REQUIRED

Pre-requisites

  • PAN
  • Form-16
  • TDS certificates
  • Interest certificates from Post Offices & Banks
  • Form 26AS
  • Tax-Savings Investment Proofs
  • Home Loan statement from NBFC/Bank
  • Capital Gains
  • Aadhar Card

PRICING

Basic Package

Save upto-10% cost on this package

₹ 7,999

(Inclusive All)

  • Name Search Report
  • Name approval in RUN (Reserve Your Unique Name)
  • DSC(2no) (Extra Dsc Per Director – Rs-1000)
  • Filing Spice Form
  • Issue of Incorporation certificate along with PAN & TAN
  • Include Government Fees & Stamp Duty for Authorized Capital Upto -1 Lakh except for the state of Punjab, MP and Kerala.
  • Msme Registration
  • Share Certificate (Soft Copy)
BUY NOW

Growth Package

Save upto-20% cost on this package

₹ 9,999

(Inclusive All)

  • Name Search Report
  • Name approval in RUN (Reserve Your Unique Name)
  • DSC(2no) (Extra Dsc Per Director – Rs-1000)
  • Filing Spice Form
  • Issue of Incorporation certificate along with PAN & TAN
  • Include Government Fees & Stamp Duty for Authorized Capital Upto -1 Lakh except for the state of Punjab, MP and Kerala.
  • Msme Registration
  • Share Certificate (Soft Copy)
  • GST Registration
  • Stamp and Company Seal
  • Bank – Current Account Opening
  • 10% Discount on Future Service
BUY NOW

Premium

Save upto-30% cost on this package

₹ 16,999

(Inclusive All)

  • Name Search Report
  • Name approval in RUN (Reserve Your Unique Name)
  • DSC(2no) (Extra Dsc Per Director – Rs-1000)
  • Filing Spice Form
  • Issue of Incorporation certificate along with PAN & TAN
  • Include Government Fees & Stamp Duty for Authorized Capital Upto -1 Lakh except for the state of Punjab, MP and Kerala.
  • Msme Registration
  • Share Certificate (Soft Copy)
  • GST Registration
  • Trademark Registration
  • 1month free GST filing
  • NDA
  • Guideline for Startup India Registration.
  • Stamp and Company Seal
  • Bank – Current Account Opening
  • 10% Discount on Future Service
BUY NOW

FAQ's

The General due date for filing income tax return by the assessee requiring tax audit is 30th September of the relevant financial year.
ITR-6 must be filed by companies that are not claiming exemption under section 11 (Income from property held for charitable or religious purposes)
ITR-6 cannot be filed by Taxpayers who fall under the below category :
Individuals, Hindu Undivided Family (HUF), Firm, Association of Person (AOP), Body of Individuals (BOI), Local Authority and Artificial Judicial Person
Individuals, Hindu Undivided Family (HUF), Firm, Association of Person (AOP), Body of Individuals (BOI), Local Authority and Artificial Judicial Person
ITR-6 form is to be used when the taxpayer is registered as a Company under the Indian Companies Act of 1956 or any other law, and if the company is not claiming exemption under section 11 (Income from property held for charitable or religious purposes).
XML is a type of file format. Income details entered in the XML file get easily auto-entered in the online Form ITR-6
 
A return can be revised u/s 139(5) before processing by the department or before the expiry of the relevant assessment year whichever is earlier.
While uploading the original return if the assessee forgot to disclose any income or claim any deduction or he wants to change the particulars of ITR he can do revision in his ITR by uploading the revised return.
The following are the basic duties of any individual who is liable to deduct tax at source. • He shall obtain the Tax Deduction Account Number and quote the same in all the documents pertaining to TDS. • He shall deduct the tax at source at the applicable rate. • He shall pay the tax deducted by him at the source to the credit of the Government (by the due date specified in this regard*). • He shall file the periodic TDS statements, i.e., TDS return (by the due date specified in this regard*). • He shall issue the TDS certificate to the payee in respect of tax deducted by him (by the due date specified in this regard*). *Refer tax calendar for the due dates.
Yes, as per the latest government announcement, all the business units and taxpayers are obliged to present their Aadhar number while filing income tax returns and also when applying for a new Permanent Account Number (PAN). Further, the taxpayers are required to link their PAN number with Aadhar numbers and on a strict basis, the PAN cards which are not attached to the Aadhar Numbers will be deemed invalid.
Companies that have become inactive or have no income may still be mandated to register a federal income tax return.
The maximum penalty is Rs. 10,000. If you file your ITR later the due date (31 August) but before 31 December, a penalty of Rs 5000 will be levied.
For the Assessment Year 2019-20, the due date for return filing was 31 August 2019.