📢 Attention Salaried, Business! File Your ITR📝

Attention all Salaried, Business! File Your ITR Today

Dear taxpayer,
The Income-tax office wishes to remind all individuals with Salaried or other income, Capital Gain, or Business activities that the deadline for filing your Income Tax Return (ITR) for Assessment Year 2023-24 is approaching fast. Make sure to complete your filing before the due date of 31st July 2023 to avoid the last-day rush and any potential penalties.

📌 Why is filing your ITR on time important?

Filing your Income Tax Return on time is not just a legal obligation; it also offers several benefits:

1️⃣ Avoid Penalties: Late filing can lead to hefty penalties and interest on the outstanding tax amount.

2️⃣ Faster Processing: Early filing allows for quicker processing of your return and faster refunds, if applicable.

 3️⃣ Financial Planning: Filing on time helps you plan your finances better and stay on top of your tax responsibilities.

4️⃣ Hassle-Free Compliance: Timely filing reduces the chances of facing unnecessary tax scrutiny.

📌 How can we help?

As a reputable Chartered Accountant (CA) and Auditor office based in Bangalore, we understand the complexities of the tax system. Our team of experts is ready to assist you in filing your ITR accurately and efficiently. With our support, you can rest assured that your tax compliance is in safe hands.

📌 Why choose us?

✅ Expertise: Our experienced professionals possess extensive knowledge of tax laws and regulations.

✅ Personalized Service: We understand that every taxpayer’s situation is unique, and we tailor our services accordingly.

✅ Timely Filing: We ensure your ITR is filed well before the deadline, minimizing the chances of last-minute stress.

✅ Compliance: With us, you can be confident that your ITR will be prepared in full compliance with the applicable laws.

📝 Additional Details Required for ITR Filing:

To ensure a smooth and hassle-free Income Tax Return (ITR) filing process, we kindly request our valued clients to provide the following relevant documents and information based on their income sources:

Salaried Individuals:

• Form 16: Please furnish your Form 16, which is issued by your employer and contains details of your salary, tax deducted at source (TDS), and other allowances.
• Investment Proofs: Share details of your investments and expenses eligible for deductions under various sections of the Income Tax Act (e.g., Section 80C, 80D, etc.).

1️⃣ Salaried Individuals with Income > Rs. 50 Lakhs:

• ITR-2 Form: If your salary income exceeds Rs. 50 lakhs, please ensure you file ITR-2 instead of ITR-1.
• HRA Exemption Details: Provide a breakup of the House Rent Allowance (HRA) received and the rent paid to claim the appropriate exemption if applicable.
• Other Exemptions: Disclose any other exemptions availed, such as Leave Travel Allowance (LTA), Medical Allowance, etc.

2️⃣ Individuals with Capital Gains:

• Details of Investments: Share the details of the assets sold during the financial year, such as stocks, real estate, mutual funds, etc.
• Purchase and Sale Documents: Provide purchase invoices and sale receipts of the assets to calculate the capital gains accurately.
• Profit and Loss Report: If you are involved in trading shares or other securities, please provide a Profit and Loss (P&L) statement from your trading platform like Zerodha.

3️⃣ Business Owners and Self-Employed Individuals:

• Business Income and Expenses: Furnish the profit and loss statement, balance sheet, and other relevant financial statements related to your business or profession.
• Invoices and Receipts: Share details of your business transactions, including invoices issued and receipts received.
• Deductions and Expenses: Provide necessary documents for claiming business expenses and deductions.

4️⃣ Other Income Sources:

• Rental Income: If you earn rental income, please provide details of the rental properties and the rent received.
• Other Sources: Share information about any other income sources, such as interest income, royalties, etc.

📌 Additional Information:

• If any property Sale, purchase details.
• Asset holding in a foreign country.
• Any other income details?

Rest assured that all the information you provide will be handled with the utmost confidentiality and used solely for tax filing purposes. Our team of experts will meticulously analyze your data to maximize your eligible deductions and ensure compliance with tax regulations.

📞 For any queries or to share the required documents, please reach out to us using the contact details mentioned in the previous section. Our team is here to assist you every step of the way in making your tax filing experience seamless and stress-free.

📌 How to get in touch?

Don’t wait until the last minute! Reach out to us today and get your ITR filing process started. You can contact us via:

📞 Phone: 08792858436 , 07892256853 , 07019827351

📧 Email: PrakashaAndco@gmail.com

🏢 Address: No 188, BT Pura, Sahakarnagar, Bangalore 560092

Let us handle your tax filing responsibilities while you focus on what matters most to you – your life, your business, and your future. Avoid any last-minute rush and ensure a stress-free tax season by getting in touch with us now.

Remember, timely filing leads to peace of mind!

#ITRfiling #IncomeTax #TaxCompliance #FinancialPlanning #BangaloreCA #TaxExperts

Note: If you have already filed your ITR for AY 2023-24, please disregard this message.