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Startupportal business services is the best ITR E-Filing services provider in Pune. Filing your income tax return is now easier than ever with the facility of e-filing, which is done completely online. Apart from being secure, online return filing is easier and faster than visiting the Income Tax office. Filing your Income Tax Return (ITR) is mandatory as a dutiful citizen of India and e-filing can make it possible to do it from the comfort of your own home.
Income Tax Return (ITR) filing is the process of submitting financial information to the Indian Income Tax Department. It is a legal requirement for all individuals and organizations with a taxable income to file an ITR every year. The ITR must be filed annually, on or before the due date, which is usually July 31st of each financial year. The process involves filling out an ITR form, providing information on your income, expenses, and taxes paid, and submitting the form to the Income Tax Department. The ITR form must be filed electronically or manually and can be done through the e-filing portal of the Income Tax Department. Filing an ITR is important because it helps the government keep track of your income and ensure that you are paying the correct amount of taxes.
To file an income tax return, taxpayers will need to have the following documents:
Taxpayers can also seek the help of tax consultants or chartered accountants to file their returns. Let us help you for ITR E-Filing in Pune, connect with startupportal expert team.
E-filing of Income Tax Return (ITR) is an electronic way of submitting your tax returns to the government. It has many advantages over the traditional manual filing process. The major advantages of e-filing are convenience, faster processing, error-free processing, easy tracking, more secure, proof of filing, saves time, easy to access, cost-effective, and reduces the chances of fraud. E-filing eliminates the need for physical copies, paper, and mailing costs. It also ensures that the data is transmitted over a secure internet connection and stored on a secure server. Additionally, the electronic verification process is mandatory, which reduces the chances of fraud. Overall, e-filing is a more efficient and secure way to file your tax returns.
If an individual fails to file their income tax return by the due date, they may be subject to a penalty. The specific penalty amount and rules can vary depending on the individual’s circumstances, but some possible penalties for late e-filing of income tax returns include:
It’s important to note that the due date for filing returns for Individuals are different based on the type of assessee, such as 31st July for salaried individuals and 30th September for self-employed individuals. It’s always better to file the return on time to avoid penalties and late fees.
To register for e-filing of Income Tax Returns (ITR), follow these steps: