I have PAN card; do I need to file my return?

You will have to file your returns if your income exceeds the tax slab of the respective assessment year.

What do I do if my PAN card is lost?

Apply for a duplicate PAN by providing the previous Permanent Account Number.

What are the common documents required for tax filing?

  • PAN Card Copy.
  • Form 16 – for salaried employees.
  • Home Loan certificate(s) – Interest and principal repayment certificates, Advance Tax/Self Assessment Tax Challan etc, if applicable.
  • Form No. 16A (Where TDS has been deducted for professional fee, term Deposits, consultancy Income etc.)
  • Bank account details.

I have lost my form 16, what is the procedure for filing now?

You can request the HR / Finance team to issue a duplicate. For more information, call us on our helpline.

I was not able to claim exemptions / deductions when the company asked for proofs, can I claim the same now?

Failing to submit proofs when the company calls for the same is common. You claim a refund by re-computing the tax liability while filing your return of income and attaching the relevant proofs thereof. This is applicable for both Exemptions and Deductions.

What are the last dates applicable for tax filing?

The last date for filing return of income for the year ended March 31 of the concerned year is July 31, of that year and for individuals who are required to get their books of accounts audited under the Income Tax Act, 30th September succeeding the concerned financial year. However these dates can change from time to time based on the government notifications. Please follow the news and notifications to be aware of the exact due dates of every year.

Why is tax planning required?

  • Reduce Tax Burden.
  • Optimize take home pay.
  • Matching risk/return profile.
  • Financial Planning.
  • Create wealth.

What is a Financial Year and Assessment Year?

Financial year is the year in which the income is earned and the assessment year is the year in which the income is assessed. The returns for a financial year are to be filed in the assessment year. Assessment year is usually the year succeeding the financial year. A financial year begins on 1st April and ends on 31st March.

I Received and Income Tax Notice, what should I do?

Most of the Income Tax Notices can be addressed via online rectifications. However please get in touch with us to help you better.

Can I file my Income Tax Returns for the previous assessment years?

You cannot file any previous years returns after the due date, unless, the Income Tax Department sends you a notice asking you to do so.

My turnover is less than 20 lakhs and I do not have any Inter state sale of goods or services, should I get registered GST?

There are many other reasons and benefits of taking a GST registrations. Kindly get in touch with is to understand better.