Business Tax Return Filing

All businesses in operation in Bharat area unit needed to file revenue enhancement come back annually. Additionally to filing revenue enhancement come back, a business may additionally be needed to file TDS come back and pay advance tax to remain compliant underneath the revenue enhancement Act. Ali Tax world is India’s largest tax services platform providing a spread of services like incorporation, GST come back filing, revenue enhancement filing and additional. Ali Tax world will facilitate file revenue enhancement come back for your business and guarantee it remains compliant underneath the revenue enhancement Act and Rules. The common time taken to file associate degree revenue enhancement come back for your business is three to five operating days. Get a free consultation on business instrument filing by programing a meeting with associate degree Ali Tax world authority.

Ali Tax World Business Tax Filing Service Includes

Dedicated Advisor

Your business are assigned an ardent Compliance Manager UN agency are one purpose of contact to assist you maintain the compliance for your business. You’ll get up-to-date together with your Compliance Manager at anytime and obtain help on matters associated with your businesses compliance.

Accounting

Businesses area unit needed to take care of accounts and prepare monetary statements at the top of every yr. Our Compliance Manager can facilitate maintain accounts and can prepare the budget for your business at the top of monetary year.

Income Tax Return Filing

Income tax come back of a proprietary should be filed at the top of every yr. supported the character of endeavor, our Compliance Manager can prepare all the documents and file your business revenue enhancement come back.

GST Return Filing

GST come back should be filed by all entities having GST registration. Just in case your business has GST registration, our Compliance Manager will assist you file GST returns at a further value supported volume.

TDS Return Filing

TDS come back should be filed by all entities needed to deduct tax at supply and having TAN registration. If your business has TAN registration, our Compliance Manager will facilitate file TDS come back at a further value.

Proprietorship Tax Return Filing

Any individual UN agency has business financial gain is alleged to be in operation a proprietary firm. Proprietorships in operation in Bharat area unit needed to file revenue enhancement come back annually. Since businessman ships area unit thought of to be one and same because the proprietor, the revenue enhancement come back filing procedure for a proprietary is comparable to individual revenue enhancement come back filing.

Requirement for Filing proprietorship tax return

All proprietors below the age of sixty years area unit needed to file revenue enhancement come back if total financial gain exceeds Rs. 2.5 lakhs. Within the case of proprietors over the age of sixty years however below eighty years, revenue enhancement filing is necessary if total financial gain exceeds Rs.3 lakhs. Proprietors over the age of eighty years and higher than area unit needed to file revenue enhancement come back if the overall financial gain exceeds Rs.5 lakhs.

The revenue enhancement rate for proprietary is that the same because the revenue enhancement rate for people. In contrast to the revenue enhancement rate for LLP or Company that area unit flat rates, proprietorships area unit taxed on block rates. The subsequent is that the revenue enhancement rate applicable for proprietorships for assessment year 2017-18, whereby the age of the businessman is a smaller amount than sixty.

Tax Audit for proprietorship

An audit would be needed for a proprietary firm if the overall sales turnover is over Rs.1 large integer throughout the yr. within the case of knowledgeable, audit would be needed if total gross receipts is over Rs.50 lakhs throughout the yr. underneath assessment.

Due Date for Filing proprietorship tax return

The revenue enhancement come back of a proprietary that does not need audit is due on thirty first July. Just in case the revenue enhancement come back of a proprietary must be audited as per revenue enhancement Act, then the comeback would result on thirtieth Sep.

Tax Return for Proprietorships

For the assessment year 2017-18 solely, that relates to financial gain attained in yr 2016- seventeen, proprietary corporations would be needed to file kind ITR-3 or kind ITR-4-Sugam. Kind ITR-3 may be filed by a businessman or a Hindu Undivided Family UN agency is concluding a proprietary business or profession. Kind ITR-4-Sugam may be filed by a businessman UN agency would love to pay revenue enhancement underneath the presumptive taxation theme.

Partnership Firm Tax Return Filing

All partnership firm area unit needed file the revenue enhancement come back, no matter quantity of financial gain or loss. Partnership Corporation’s area unit taxed as a separate legal entity underneath the revenue enhancement Act. Hence, the revenue enhancement rate applicable for partnership corporations is comparable to LLPs and firms registered in Bharat.

Requirement for Filing Partnership Firm tax return

All partnership corporations area unit needed to file revenue enhancement come back annually, no matter financial gain or loss. If there was no endeavor, then a zero revenue enhancement come back should be filed before the day of the month for a partnership firm.

Income Tax Rate for Partnership firms

Partnership Corporation’s area unit vulnerable to pay revenue enhancement at the speed of half-hour of total financial gain. Additionally to the revenue enhancement, a partnership firm is vulnerable to pay revenue enhancement surcharge on the quantity of revenue enhancement at the speed of 12-tone system, once total financial gain exceeds Rs.1 crores. Additionally to the revenue enhancement and surcharge, a partnership firm should pay education cess and secondary instruction cess. Education Cess is applicable on the quantity of revenue enhancement and also the applicable surcharge at the speed of twenty-two. Secondary and better education cess is applicable on the quantity of revenue enhancement and also the applicable surcharge at the speed of I Chronicles.

Minimum Alternate Tax for Partnership firms

Similar to revenue enhancement applicable for a corporation, Partnership Corporation’s area unit subject to minimum alternate tax. A minimum alternate tax of eighteen.5% of adjusted total financial gain is applicable. Hence, revenue enhancement owed by a partnership firm having profits can’t be but eighteen.5 per cent (increased by revenue enhancement surcharge, education cess and secondary and better education cess).

Tax Audit for Partnership Firm

Partnership corporations carrying on business with a complete sales of over Rs.1 large integer area unit needed to get tax audit. Similarly, partnership corporations, carrying on a profession whereby gross receipts in profession exceed Rs.50 lakhs within the previous year area unit needed to get tax audit. Additionally, there area unit alternative conditions applicable that may create associate degree audit necessary for a partnership firm.

Due Date for Filing Partnership Firm tax return

The revenue enhancement come back day of the month for many partnership corporations is July thirty one of the assessment year. Partnership corporations needed to induce its accounts audited underneath the revenue enhancement Act should file the revenue enhancement come back before the Sep thirtieth point.

Tax Return for Partnership firms

Partnership corporations area unit needed to file revenue enhancement come back in kind ITR five. Like all alternative revenue enhancement forms, ITR five is associate degree attachment less kind and there’s no demand for submitting any documents or statements beside a partnership firm instrument. However, the payer should save all records touching on the business and manufacture identical before tax authorities once requested.

LLP Tax Return Filing

All LLPs area unit needed file the revenue enhancement come back, no matter quantity of financial gain or loss. LLPs area unit a separate legal entity and area unit taxed on an individual basis from the Partners of the LLP. The revenue enhancement rate applicable for LLPs is comparable firms registered in Bharat.

Requirement for Filing LLP tax return

All LLPs area unit needed to file revenue enhancement come back annually, no matter financial gain or loss. If there was no endeavor, then a zero revenue enhancement come back should be filed before the day of the month.

Income Tax Rate for LLPs

The revenue enhancement rate applicable for LLP registered in Bharat may be a flat half-hour on the overall financial gain. Additionally to the revenue enhancement, a surcharge is levied on the revenue enhancement owed at the speed of 100% once the overall financial gain exceeds Rs.1 crore. Additionally to revenue enhancement surcharge, associate degree education cess and secondary and better education cess is additionally applicable on the financial gain of a LLP.

Minimum Alternate Tax for LLP

Similar to revenue enhancement applicable for a corporation, LLP is additionally subject to minimum alternate tax. A minimum alternate tax of eighteen.5% of adjusted total financial gain is applicable for LLP. Hence, revenue enhancement owed by LLP can’t be but eighteen.5 per cent (increased by revenue enhancement surcharge, education cess and secondary and better education cess).

Tax Audit for LLP

LLP whose turnover exceeded Rs. forty 100000 or whose contribution exceeded Rs. twenty five 100000 area unit needed to induce their accounts audited by a practicing controller. Additionally, LLPs that entered into a global dealings with associated enterprises or undertook sure given Domestic Transactions area unit needed to file kind 3CEB. Kind 3CEB should be certified by a controller. LLPs needed to file kind 3CEB have thirtieth Nov because the point for LLP tax filing.

Due Date for Filing LLP tax return

The point for LLP tax filing in Bharat is July thirty first. LLPs that area unit needed to get a tax audit have thirtieth Sep as point for filing revenue enhancement come back.

Tax Return for Partnership firms

LLPs should file revenue enhancement come back victimization kind ITR five. Kind ITR five should be filed on-line victimization the digital signature of 1 of the selected partner of the LLP.

Company Tax Return Filing

All firms registered in Bharat area unit needed to file revenue enhancement returns annually. Underneath the revenue enhancement Act, company instrument filing falls underneath 2 classes, particularly domestic company or foreign company. Firms registered with the Ministry of company Affairs like personal company, One Person Company or company area unit classified as a domestic company.

Requirement for Filing Company tax return

All firms registered in Bharat area unit needed to file revenue enhancement returns annually, no matter financial gain, profit or loss. Hence, even dormant firms with no transactions area unit needed to file revenue enhancement come back annually.

Income Tax Rate for Company

Income tax rate of twenty fifth of total financial gain is applicable for firms having total turnover of but Rs.50 crores within the year 2015-16. For firms having a turnover of over Rs.50 crores within the year 2015-16, revenue enhancement rate of half-hour is applicable. Additionally to the revenue enhancement, firms can even be needed to pay revenue enhancement surcharge, education cess and Secondary and better Education Cess.

Minimum Alternate Tax for Company

All firms area unit needed to pay minimum alternate tax at the speed of eighteen. 5% of book profit and surcharge and education cess, if the liabilities of the corporate is a smaller amount than eighteen.5% of book profit.

Tax Audit for Company

The accounts of a corporation should be audited annually by a controller, no matter turnover or profit/loss.

Due Date for Filing Company instrument

All firms registered in Bharat area unit needed to file revenue enhancement come back on or before the thirtieth of Sep. firms incorporated between Gregorian calendar month – March will file MCA annual come back when eighteen months within the 1st year. However, identical sort of exemption isn’t offered underneath the revenue enhancement Act. Hence, even firms registered from Gregorian calendar month – March should file revenue enhancement come back on or before thirtieth Sep of identical year.

Tax Return for Company

Companies registered in Bharat and in operation a business for profit should file kind ITR six. Hence, personal restricted firms, restricted firms and one person firms would be needed to file kind ITR6.

ALI TAX WORLD

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We help Entrepreneurs start and operate successful businesses

Ali Tax World is Uttar Pradesh’s largest online business services platform dedicated to helping people easily start and manage their business, at an affordable cost. Our aim is to help the entrepreneur on the legal and regulatory requirements, and be a partner throughout the business lifecycle, offering support at every stage to ensure the business remains compliant and continually growing.

Ali Tax World partners with a network of experienced Chartered Accountants, Company Secretaries, Lawyers, Cost Accountants, Chartered Engineers, Ex-Bankers and Financial Experts across India to provide a comprehensive range of services for small and medium sized enterprises.

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