6,499

Business Tax Returns

Income TaxService
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Description

Services Covered

  • Account Summary – P&L and Balance Sheet (up to 250 entries per year)
  • Advance Tax Payment (4 nos.)
  • Expert Assisted Tax Filing for business and professionals
  • Tax Savings & Planning Advice
  • Documented follow up
  • Excludes the Tax audit Fees

Who Should Buy

  • Any business entity required to maintain books of accounts
  • Small Businesses and Professionals requiring books of account
  • Small businesses requiring Tax Audit including Derivative & intraday traders

Documents To Be Submitted

  • Bank statements for the financial year
  • Income and Expense statements
  • Auditor reports
  • Bank statement

Faq’s

In case tax audit is applicable the due date is 30th October, otherwise it is 31st July.

The assessment of income of an year can be made only after year has passed, advance tax is pre payment of your tax liability in the year it is earned. If the tax liability is more than Rs 10,000 in a financial year then advance tax needs to be paid by assessee. The due dates are
15th June(15%)
15th September(45%)
15th December (75%)
15th March (100%)

Yes, return can be revised within a period of one year from the end of the relevant assessment year or before completion of the assessment whichever is earlier. Filing of revised return is not part of the plan. Plan buyer is required to provide full and accurate details to avoid the need for any rectification in the originally filed return.

Yes, under the Income-tax Act legal proceedings can be initiated up to 4 to 6 years (depending upon case to case) prior to the current financial year. However, in certain cases the proceedings can be initiated even after 6 years, hence, it is advised to preserve the copy of return for at least 6 years or maintain it as long as possible.

Prior to return filing, a summary consolidating all financial transactions is prepared. Day to day bookkeeping and audit does not form part of the plan. However on request Zeal team can assist with appointing a qualified Chartered Accountant eligible for providing audit services.

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