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| INCOME TAX : | ||
| Every person with taxable income (over and above the tax exemption limit) should file an income return, even if her/his tax liabilities have been taken care of by the employer through tax deducted at source (TDS); persons whose salaries have been subjected to TDS are also required to file return because they may have earned from sources other than salary (house property income, capital gains, etc.).The entire tax payable on your income has to be paid before filing the return of income either by way of tax-deducted at source (TDS), advance tax or self-assessment tax. Ensure that it is done before the ITR is filed. | ||
| Avoid wilful tax evasion: In certain cases, you may even be liable for prosecution for intentional avoidance of tax payments. 'Better late than never' is the best policy when it comes to income tax payment | ||
| Following are some benefits of filing of Income Tax Return | ||
| 1. Standard Income Proof: ITR is considered a customary income proof not only in India but also globally. If you are looking for higher education or employment abroad, ITR is the largely accepted income proof. | ||
| 2. Speeds your loan application process: The fact that you are filing your ITR regularly gives you speedier access to credit and at better terms. It also provides the impression to the financier that you are a law abiding citizen and will repay the loan within time. | ||
| 3. Power of PAN: Permanent Account Number or PAN issued by the IT authority is not only a prerequisite for filing ITR but is also now mandatory for all financial transactions -- from opening a bank account, or purchasing mutual funds to real estate for investment. | ||
| 4. Claim your tax refund: Filing ITR is not always about paying tax. It can be used as a means to reduce your tax liability, salaried employees for whom TDS has been cut during the financial year can claim refund if the TDS Deducted has been more than the actual tax payable | ||
| Government is keeping eye on your high value transaction like :- | ||
| 1. Cash deposits aggregating to 10 lakh rupees or more in a year in any savings account | ||
| 2. Payments made in respect of a credit card aggregating to 2 lakh rupees or more in the year. | ||
| 3. Payment by any person of an amount of 2 lakh rupees or more for acquiring units of Mutual Fund | ||
| 4. Purchase or sale by any person of immovable property valued at 30 lakh rupees or more. | ||
| And many more transactions of yours is under government surveillance, so avoid penalty and persecution and file your true Income Tax Return before Last Date of 31st July 2013 for the financial year 2012-13. | ||
| Call us we will happy to help you, we provide full consultancy and support for filing of income tax Return, we provide three kind of ITR range choose according to your need and live life tax tension free | ||
