ITR (Income Tax Return) for Business refers to the process by which businesses report their income, expenses, and tax liability to the government for a financial year. Filing an ITR is mandatory for businesses to declare their earnings and calculate the taxes they owe, based on their profits.
ITR (Income Tax Return) for Business refers to the process by which businesses report their income, expenses, and tax liability to the government for a financial year. Filing an ITR is mandatory for businesses to declare their earnings and calculate the taxes they owe, based on their profits.
For businesses in India, different ITR forms apply depending on the type of business structure:
1. ITR-3: For individuals and Hindu Undivided Families (HUFs) carrying out a business or profession.
2. ITR-4 (Sugam): For individuals, HUFs, and firms (other than LLPs) who have opted for the presumptive taxation scheme under sections 44AD, 44ADA, or 44AE.
3. ITR-5: For partnerships, Limited Liability Partnerships (LLPs), and other associations not filing under ITR-7.
Filing the correct ITR form ensures businesses are compliant with tax laws and helps calculate the accurate tax liability based on business income and expenses.
Terms & Conditions
Govt fee Rs 1000 extra to be borne by the client
All tax payments and penalties if any to be borne by the client
Stamp paper and notary should be borne by the client
This pricing is applicable only if the LLP is not having any assets and liabilities.
There will be additional charges if there is BANK ACCOUNT STATEMENT transactions having above 100 entries
DINeKYC & DSC needs to be active till the e-filing status of the LLP changes to “UNDER PROCESS OF STRIKE OFF”.
Separate forms to be filed with MCA for updating of Registered Office address/mail id & and the add/remove partners (additional charges applicable).
LLPs must file FORM-3 within 30 days of incorporation. Failure to do so incurs a penalty, which must be paid before filing FORM-24 for closure of LLP with the MCA.
ITR (Income Tax Return) for Business refers to the process by which businesses report their income, expenses, and tax liability to the government for a financial year. Filing an ITR is mandatory for businesses to declare their earnings and calculate the taxes they owe, based on their profits.
For businesses in India, different ITR forms apply depending on the type of business structure:
1. ITR-3: For individuals and Hindu Undivided Families (HUFs) carrying out a business or profession.
2. ITR-4 (Sugam): For individuals, HUFs, and firms (other than LLPs) who have opted for the presumptive taxation scheme under sections 44AD, 44ADA, or 44AE.
3. ITR-5: For partnerships, Limited Liability Partnerships (LLPs), and other associations not filing under ITR-7.
Filing the correct ITR form ensures businesses are compliant with tax laws and helps calculate the accurate tax liability based on business income and expenses.