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5 Simple Steps to ITR-4 (Presumptive Taxation)

1
Upload Basic Documents for ITR Filing
2
Digital CA will prepare Computation Sheet
3
Make Income Tax Payment if any
4
Upload Return & Verify Return
5
Get Acknowledgement

Applicability of ITR-4

  • The ITR-4 Form is the Income Tax Return form for those taxpayers, who have opted for the presumptive income scheme as per Section 44AD, Section 44ADA and Section 44AE of the Income Tax Act.

  • However, if the turnover of the business mentioned above exceeds Rs 2 crores, the taxpayer will have to file ITR-3.

Basic Documents

For claiming deductions

  • Your contribution to Provident Fund​​ paid during the concerned financial year;
  • Your children’s school tuition fees ​paid during the concerned financial year;
  • Life insurance premium payment paid during the concerned financial year;
  • Stamp-duty and registration charges​ paid during the concerned financial year;
  • Principal repayment on your home loan​ paid during the concerned financial year;
  • Interest on your home loan​ paid during the concerned financial year;
  • Equity Linked Savings Scheme/Mutual funds invested during the concerned financial year;
  • The maximum amount that can be claimed under Section 80C is Rs 1.5 lakhs.
  • House Rent paid during the concerned financial year;
  • Rs. 50000/- extra deduction u/s 80 is for investment in National Pension Scheme (NPS) during the concerned financial year.

Other Investments details

  • Interest paid on housing loan: Interest on housing loan is eligible for tax saving up to Rs 2,00,000. This is for a self-occupied house. For let out or deemed let out a property, there is no limit of interest on housing loan eligible for tax saving till FY 2016-17.

  • From FY 2017-18, the total loss from house property available for set off against other income is capped at Rs 2 lakhs and therefore, interest on housing loan is eligible for tax saving up to Rs 2,00,000 for let out a property as well. Education loan interest payments.

  • Stock trading statement: The stock trades that were made during the year may be taxed under Capital Gain.
999

Basic

All Inclusive Fees

  • If turnover is up to 20 lakhs
  • Income Tax Return
  • Balance Sheet & Profit & Loss
1999

Silver

All Inclusive Fees

  • If Income is 20 lakh to 50 lakh
  • Income Tax Return
  • Balance Sheet & Profit & Loss Account
6999

Gold

All Inclusive Fees

  • If turnover is 50 lakh to 1 crore
  • Income Tax Return
  • Balanc Sheet & Profit & Loss Account
  • Accounting & Book-Keeping
  • Note: For more than 1 crore turnover, cutomized packages will be provided as per requirement.

Basic Features

Easy Loan Approval

Filing the ITR will help individuals when they have to apply for a vehicle loan, House Loan, etc. Bank will ask for a copy of ITR.

Claim Tax Refund

If you have a refund due from the Income Tax Department, you will have to file an Income Tax Return to claim the refund.

Income & Address Proof

Income Tax Return can be used as proof of your Income and Address.

Carry forward of Losses

If you file the return within due date, you will be able to carry forward losses to subsequent years, which can be used to set off against income of If you file the return within due date, 

Quick Visa Processing

Most embassies & consulates require you to furnish copies of your tax returns for the past couple of years at the time of the visa application.

Avoid Penalty

If you are required to file your Tax returns but didn’t, then the tax officer deserves the right to impose a penalty of up to the amount specified

Contribution to Govt. Fund

By Filling ITR Assessee Contribute their Hands to the Development of Country.

Start 999 /- all inclusive fees
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