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INCOME TAX & GST

Services Offered

  • Income Tax Assessment & Audit

  • eFiling of Income Tax Returns & GST Returns

  • Resolution of Tax Notices

  • Advance Tax & Professional Tax Payment

  • eFiling of TDS

  • Registration of GST & eFiling of GST Returns

  • Maintenance of Regular Accounts

  • eWay Bill, FSSAI Registration

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)

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

Thanks for submitting!

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?

  • To Get Loan (Home/Car/Business) Eligibility.

  • To Get Credit worthiness and so Loans at  lower interest Rate.

  • To Get Refund of Tax already paid, if any.

  • To Get Insurance Eligibility.

  • To carry forward Income Losses, If any.

What happens if Income Tax Return is not Filed?

  • Rejection of Loans.

  • Rejection of Insurance Claims.

  • Unwanted & Unexpected IT Notices in future.

  • 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 ?

  • a direct tax which is levied on persons earning an income by way of either practicing a profession, employment, calling or trade.

  • 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.

  • 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.

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