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Company and LLP Income Tax Returns Filing

Income TaxService
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Description

Services Covered

  • Income tax return filing of Company/Limited Liability Partnership(LLP)
  • Individual income return filing of up to two directors/partners (only salary income)
  • Ask an Expert session to address any related queries
  • Documented follow up
  • Excludes the Statutory audit Fees

Who Should Buy

  • Company
  • Limited Liability Partnership firm (LLP)

Documents To Be Submitted

  • Additional Form 16

Faq’s

The due date for filing income tax return in case of a company is 30th October (whether audit of accounts is required or not). For LLP due date is 30th October (where audit is required), November 30th(where there are foreign transaction or specified domestic transactions) and in other cases due date is 31st July.

All the companies are required to file ITR 6 other than the companies claiming exemption u/s Section 11, which applies to income from property held in trust or other legal obligation for religious or charitable purposes, wholly or partially.
ITR 7 is filed if the company is claiming exemption u/s 11. ITR 7 is not covered in the plan.
ITR 5 is filed if business is registered as an LLP.

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, a belated return can be filed before the end of the assessment year or before completion of the assessment year, whichever is earlier. For example, in case of income earned during FY 2016-17, the belated return can be filed up to 31st March 2018.

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.

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.

ITR return forms are attachment less forms and hence, you are not required to attach any document (like proof of investment, TDS certificates etc.) along with the ITR (whether filed manually or electronically). However, these documents should be retained and produced before the tax authorities when demanded in situations like assessment, inquiry etc.

Audit & preparation of financial statements is not part of the plan.

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