INCOME TAX & GST
Services Offered
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Income Tax Assessment & Audit
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eFiling of Income Tax Returns & GST Returns
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Resolution of Tax Notices
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Advance Tax & Professional Tax Payment
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eFiling of TDS
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Registration of GST & eFiling of GST Returns
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Maintenance of Regular Accounts
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eWay Bill, FSSAI Registration
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For Registration / eFiling of Income Tax Returns/Tax Issues/ Professional Tax
Please fill the Form and Pay an amount of Rs.1000/- for slot Registration.
(Adjustable with Final Charges)
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Once the Below Registration Form is filled, please send the Required Documents as applicable along with the Registration Payment Details to our email Id: snrfinance2021@gmail.com
Income Tax Return Filing
Who need to File Income Tax Return?
There is a general wrong perception towards filing of the return is that
"since the Employer or Bank has deducted TDS, so we don't require to pay any income tax additionally and therefore filing of the return is also not necessary''.
But this is absolutely Wrong.
Then, What's Fact?
1) for All Individuals and HUF/AOP/BOI
If the Total income earned during a financial year, is more than the basic exemption limit of the income tax i.e. Rs. 2.50 Lakhs (for FY 21 - 22 ) then filing of return is compulsory for that year.
2) for Company, Local Body,Partnership Firm
Filing of return is compulsory every year irrespective of income/loss
Benifits of eFiling of Income Tax Return?
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To Get Loan (Home/Car/Business) Eligibility.
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To Get Credit worthiness and so Loans at lower interest Rate.
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To Get Refund of Tax already paid, if any.
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To Get Insurance Eligibility.
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To carry forward Income Losses, If any.
What happens if Income Tax Return is not Filed?
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Rejection of Loans.
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Rejection of Insurance Claims.
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Unwanted & Unexpected IT Notices in future.
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Unnecessary Hefty Penalty & Even Imprisonment.
Due dates for filing of income tax return
For All (Non Audit Cases)
For Audit Cases
31st July
31st October
The due date of furnishing of Return of Income for the Assessment Year 2024-25, is 31st July, 2024.
Professional Tax
What is Professional Tax ?
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a direct tax which is levied on persons earning an income by way of either practicing a profession, employment, calling or trade.
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Unlike income tax which is levied by the Central Government, profession tax is levied by the government of a state or union territory in India.
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Professional tax in Andhra Pradesh is levied in accordance with the Trades, Callings and Employments Act of 1987
Slab rate of Professional tax
1) The slab rate of professional tax on people engaged in any profession, trade, calling or employment.
The tax so levied is Rs. 2,500 in a year
2) The slab rate of professional tax on the employees is determined by the monthly salary
Monthly Salary
If the salary is Between Rs.15,000 to Rs.20,000
Where the salary is above Rs.20,000
Liable Amount per month
Rs. 150 per month
Rs. 200 per month.
Due Date
The due date of tax payment of professional tax in Andhra Pradesh
30th of the upcoming June.
Penalty
If Tax is not paid within due date,
a penalty of at least 25%, up to 50% of the tax due.
Advance Tax
AN ASSESSEE IS REQUIRED TO PAY ADVANCE TAX
If one's Total TAX LIABILITY is Rs.10,000/- or more in a Financial Year
PAY AS YOU EARN
DUE DATES FOR PAYMENT OF ADVANCE TAX
For individuals and Companies
JUNE
15
15%
of Advance Tax
SEPTEMBER
15
45%
of Advance Tax
DECEMBER
15
75%
of Advance Tax
MARCH
15
100%
of Advance Tax
We are Authorized Professionals to provide you Income tax, Audit, TDS, Tax Notice resolutions, Professional Tax, Accounting and all GST related Services being authorized Channel partners with the central Government GSTN Approved GSP.
