Income Tax Services
Navigating Income Tax with Precision and Ease
Navigating the intricacies of income tax can be overwhelming. At Greatertax, we provide expert income tax services to ensure that you meet all your tax obligations while optimizing your tax position. Our goal is to simplify the income tax process and help you maximize your benefits.
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Our Income Tax Services Include
Income Tax Return Filing
Filing your income tax return accurately and on time is crucial for avoiding penalties and ensuring compliance with tax regulations.
TDS Return Filing
Tax Deducted at Source (TDS) is a system of tax collection by which tax is deducted at the source of income. For instance, if you receive salary, rent, or interest income.
Tax Notice
A tax notice is a formal communication from the tax authorities, such as the Income Tax Department, regarding discrepancies or issues related to your tax returns.
ITR Filings
ITR-1 Form Filing
Individuals residing in India with a total income of up to Rs 50 lakh are eligible. ITR-1 may be filed by someone who earns money from a job, a home, or other outlets. An NRI is unable to file an ITR-1. ITRs may be filed using Form 16 by salaried taxpayers.
ITR-2 Form Filing
Individuals and HUF for revenue from sources other than their enterprise or occupation. Individuals and NRIs who earn money from a job, a home, capital gains, or other sources may file Form ITR-2.ITR-2 may be filed by salaried people who have made profits or damages from stock purchases and sales
ITR-3 Form Filing
Individuals are required to disclose their earnings from a company or occupation. Salaried people who earn money from the intraday stock exchange or futures and options trading should file Form ITR-3 Individuals may use ITR-3 to record revenue from jobs, real estate, capital gains, company or trade (including presumptive income), and other sources.
ITR-4 Form Filing
Individuals, HUFs, and partnership companies are subject to a presumptive taxation system on their earnings. ITR-4 is used to report revenue from a company with a turnover of up to Rs 2 crore that is subject to section 44AD taxation.
In addition, ITR-4 is for revenue from an occupation with a turnover of up to Rs 50 lakh that is subject to section 44ADA taxation. ITR-4 may be filed by a freelancer who works in a notified occupation.
ITR-5 Form Filing
LLP, AOP, and BOI are both acronyms for alliance companies. LLPs, partnership companies, AOPs, and BOIs will file ITR-5s to disclose profits from their businesses and professions, as well as some other sources of income.
ITR-6 Form Filing
It is an income tax return form used by businesses to report revenue from industry or occupation, as well as all other forms of income.
ITR-7 Form Filing
It is the federal tax return for businesses, partnerships, and trusts that continue to be excluded from paying income tax.