ITR Filing


 What is ITR Filing

An income tax (IT) return is the tax form or forms used to file income tax with the Income Tax Department. The tax return is usually in a predefined worksheet format where the income figures used to calculate the tax liability are written into the documents themselves. Tax returns allow taxpayers to compute their tax liability and remit payments or request refunds. In most countries, tax returns must be filed every year for an individual or business that received income during the year, whether through wages, interest, dividends, capital gains or other profits.

Types of taxes in India – direct and indirect.

A direct tax is a tax you pay on your income directly to the government. Indirect tax is a tax that restaurants, theatres and e-commerce websites charge you on for goods or a service. This tax is, in turn, passed down to the government. Indirect taxes take many forms such as service tax on restaurant bills and movie tickets, value-added tax or VAT on goods such as clothes and electronics.

Goods and services tax, which has recently been introduced is a unified tax that has replaced all the indirect taxes that business owners have to deal with.

Filing Income Tax Return using FINACT Professional Services?

Any Individual having the following types of income can opt for FINACT Professional Services ‘s services:

  • Income from Salary.
  • Income from House Property.
  • income from Business or Profession.
  • Income from Sale of Investments (Shares, Mutual Fund units, Bonds) or Property
  • Income by way of Interest, Dividend, Gifts, Family Pension, Agricultural Income
  • Brought Forward Losses.
  • Clubbing of Income.

and much more.

Why is filing an Income Tax Return using FINACT Professional Services a unique experience?

  • FINACT Professional Services offers you a unique experience when filing your tax return. Find out how:
  • You do not need to know Income Tax Laws.
  • The tax computation is done absolutely FREE. You can also view it for free. You pay only when ready to file.
  • FINACT Professional Services is a Registered e-Return Intermediary by the Income Tax Department. So we can file your return with the IT Department on your behalf.
  • FINACT Professional Services uses 128-bit encryption Secure Sockets Layer (SSL) technology, used by banks around the world. Our servers are the safest home for your data!
  • No advertisements or pop-ups on the FINACT Professional Services website.
  • You can prepare and file your return for various types of Income. FINACT Professional Services does not place a restriction on income types in its plan.

Income tax rebate under section 87A of Income Tax Act 1961