Basic of an Indian income tax act 1961

Income tax is tax imposed by government to collect tax from an income earned by an individual. Income tax is a main source of revenue for government whether central government or state government. We as an citizen of india and covered under income tax act is liable to pay tax on income earned.

How much your income return is important:-

• It is necessary for all person who is known as an assessee under income tax act 1961, to file his/her income tax return properly with correctness.
• Income tax include all person i.e. individual/HUF/AOP/BOI/AJP/COMPANY/FIRM/TRUST as its assessee who is liable to file their income tax return and pay tax accordingly.
• Non filling of income tax return may leads legal proceeding against defaulter.
• Regular filling of income tax return gives different benefits to assessee like ease in loan approval, positive image against lender, visa approval process etc.
• Late filling of income tax return imposed a very huge penalty.
• Entire process that starts with accounting will ends with proper filling of income tax return.
• It is very important to file your income return properly with all correct details without any error to processed it timely and get your TDS refund if any that you claimed.

We are here to serve our client a with very detailed tax provision so to avoid any lapes with provision of income tax act.