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Incometax Return Filling

Make Tax Filing Quick & Easy With FRIENDSTAX!

End your tax season worries with FRIENDSTAX. It’s the Easy Way to Get your Taxes Done Right, with a Few Laughs Along the Way.

What Exactly is Income Tax Return Filling?

Income tax return filling in India is a process that involves an individual submitting their financial information to the Indian government for taxation purposes. This includes details about their income, deductions, and other relevant factors like investments and capital gains.

The primary reason for filing an Income Tax Return (ITR) is to pay taxes on your income according to the applicable slab rate. All individuals who are liable for taxes must file ITRs before 31st July of every year or get it extended by the due date as per legal regulations from time to time.

Eligibility Criteria Income Tax Return Filling

  • Any taxpayer who earns an income from salary, house property, business or profession, capital gains, and other sources is eligible to file ITR-2 Form in India.
  • The taxpayer should have any bank accounts, savings accounts, investments, deposits, etc. outside India that need to be declared.
  • Any taxpayer who claims a tax refund must use ITR-2 Form to file their tax return.
  • This form is also applicable to a non-resident Indian citizen who earns a taxable income in India during the financial year.
  • Individuals or Hindu Undivided Families (HUFs) who wish to claim deductions are also required to use ITR-2 Form for filing their income tax returns.
  • Businesses whose total turnover/gross receipts did not exceed Rs. 2 Crores during the financial year should use this form as well.

Why Choose FRIENDSTAX for GSTR-9C Income Tax Return Filling?

  • FRIENDSTAX offers a secure, convenient, and easy-to-use platform for filing GSTR-9C income tax returns in India.
  • The platform provides a step-by-step guide to filing the GSTR-9C form, making it quick and easy.
  • FRIENDSTAX also offers an Auto-calculate feature which helps to accurately calculate the payable tax amount and provide accurate inputs in the GSTR-9C form.
  • The platform comes with an intuitive user interface that allows users to easily navigate and complete their GSTR-9C income tax return filling with ease.
  • FRIENDSTAX also offers a helpful customer support team who are available to assist users with any queries or issues they may have.
  • Finally, FRIENDSTAX is a trusted and reliable platform that has helped thousands of Indian businesses save time and effort in filing their GSTR-9C income tax returns.

Documents Required for Income Tax Return Filling

  • Form 16: It is a certificate issued by the employer to the employee which includes the details of tax deducted at source (TDS) during the financial year.
  • Bank Statements: Bank statements should be produced for the purpose of income verification.
  • Form 26AS: This form is a consolidated tax statement generated by the Income Tax Department which provides information about taxes that have been deducted from various sources.
  • Proof of Investment: Investments made in the financial year should be supported by documents such as bank statements, investment receipts, etc.
  • Invoices: Invoices pertaining to business expenses should be provided as evidence of legitimate deductions.
  • Proof of GST Return Filing: Businesses that are registered under GST must provide their GST returns as proof of filing and payment of taxes.
  • Proof of Donation: Donations made to eligible charities are allowed to be claimed as deductions. Receipts of such donations must be produced for a proper deduction.
  • Residential Status: Individual’s residential status is required to be verified in order to claim relevant exemptions and deductions.
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