File NIL Return Income Tax (ITR)

File NIL Return Income Tax (ITR)

 Timeline: 5-10 working days
 Package Inclusions
  • Assessing tax liability
  • Drafting of return
  • Filing of return
 Documents Required
  • Balance Sheet
  • Profit and Loss Account
 Process Details
  • Assessment of tax liability
  • Drafting of Return
  • Filing of Return
 Key Advantages
  • Statutory requirement- It is mandatory for an organisation to pay Income Tax on time
  • Obtaining VISA- ITR documents serves as a proof for financial soundness if you wish to get your VISA stamped for travelling abroad.
  • Loan Eligibility- ITR of last three years is the basic need along with good CIBIL score for obtaining loan from banks.
  • Money back- Incase of excess deductions, ITR filling helps you get a refund easily and quickly.
  • Avoid Penalties- E-filing ITR on time saves you from paying penalties in future.
  1. What is a return of income?
    It is a prescribed form through which the particulars of income earned by a person or company in a financial year and taxes paid on such income are communicated to the Income-tax Department.
  2. What are the due dates for filing of income/losses?
    (a) 15 June 2016 :First instalment of Advance Tax for individuals and corporate for assessment year 2017-18 or financial year 2016-17 (b)31 July 2016 :Income tax return e-filing due date for Assessment Year 2016-17 for individuals (c)15 September 2016 :Second instalment of advance tax for the assessment year 2017-18 (d)30 September 2016: 1.Income tax return filing for the assessment year 2017-18 for companies. 2. Income tax returns filing for the assessment year 2017-18 for taxpayers whose books of account are required to be audited. 3. Income tax return filing for the assessment year 2017-18 for working partner (of a firm whose accounts are required to be audited). (e)15 December 2016: Second instalment of advance tax for the assessment year 2017-18.

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