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File Your
ITR-1
Returns
ITR-1, also known as Sahaj, is the Income Tax Return form for individuals having income from salaries, one house property, other sources (interest, etc.), and total income up to ₹50 lakh. It is one of the simplest and most widely used forms for individual taxpayers in India.
At Future Tax, we specialize in assisting individuals in filing their income tax returns using the ITR-1 form in India. Our expert guidance and assistance ensure a smooth and hassle-free filing process, enabling you to fulfill your tax obligations accurately and on time.
Filing your income tax return using ITR-1 is essential for several reasons:
Compliance:Fulfill your legal obligation to report your income and pay taxes.
Claim Refunds: Claim refunds if excess taxes have been deducted from your income.
Loan Processing: Submitting ITR-1 helps in loan processing and verification of income.
Visa Applications: Some countries require ITR filings as proof of financial stability for visa applications.
Avoid Penalties: Avoid penalties and legal consequences for non-filing or incorrect filing of income tax returns.
Required
Documents
for Filing
Aadhaar Card:
Aadhaar card for identity verification.
Form 16
Salary certificate issued by your employer.
Other Income Proof
Proof of any other sources of income such as interest, rental income, etc.
Bank Statements:
Statements of all your bank accounts for the financial year.
GST Returns
GST return filings and related documents (if applicable).
Steps for
ITR-1 Filing:
01.
Free Consultation
Contact us for a free consultation to discuss your tax filing needs and objectives
02.
Document Collection
Provide necessary documents such as Form 16, bank statements, investment proofs, etc.
03.
Tax Planning
Develop a personalized tax planning strategy to optimize your tax position.
04.
4. Tax Return Preparation
Our experts prepare and file your tax return accurately and timely.
05.
5. Review and Submission
We review your tax return for accuracy and submit it to the Income Tax Department.
How it
Works
Free Consultation
Contact us for a free consultation to discuss your income tax filing needs and objectives.
Document Collection
Provide necessary documents such as Form 16, bank statements, investment proofs, etc.
Return Preparation
Our experts prepare and file your income tax return using the ITR-1 form accurately and timely.
Review and Submission
We review your tax return for accuracy and submit it electronically to the Income Tax Department.
Full Control
Enjoy complete control over your business decisions.
Tax Benefits
Benefit from personal tax rates as income is considered the owner's income.
Easy to Start
Minimal regulatory requirements make it easy to start.
Low Compliance
Fewer compliance requirements compared to other business structures.
Benefits Of
ITR-1 Filing
• Legal Compliance
Filing business taxes ensures compliance with tax laws and regulations, helping businesses avoid legal issues, penalties, and audits. It demonstrates the business's commitment to following legal standards and maintaining transparency in financial reporting.
• Claiming Refunds
If you have paid more taxes than required through TDS (Tax Deducted at Source) or advance tax payments, filing your income tax return allows you to claim a refund. This ensures you receive back any excess tax paid during the year
• Avoiding Penalties:
Timely filing of income tax returns helps you avoid penalties and interest charges that may be levied for non-compliance or late filing. This contributes to maintaining a good standing with tax authorities and avoids unnecessary financial burdens.
• Financial Record:
Your income tax return serves as an important financial record of your income, investments, deductions, and taxes paid. It can be used as proof of income for various financial transactions such as applying for loans, visas, or insurance policies.
Additional Services
List of Our Services
PAN and TAN Application:
- Obtain your Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
Accounting and Bookkeeping:
- Keep your financial records in order with our expert services.
Compliance Services:
- Ensure your business complies with all legal requirements.
Trademark Registration:
- Protect your brand with trademark registration.
Contact Us
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Send us your messages and inquiries effortlessly through our contact form.
