Business/Profession Tax Filing – Premium

This Plan is for Businesses or Professionals requires to maintain books of accounts. 

Taxfolios expert will help you in filing Income tax return and also guide you in advance tax payment instalments.

It is advisable to submit tax audit report before filing Income tax return (if tax audit applicable on you). You will get defective return notice us/ 139 (9), Income tax return is filed before submitting Tax audit report.

Day to day bookkeeping does not form part of the plan. Our team will prepare balance sheet and statement of Profit & loss. Based on this Financial Statements computation of Income will be provided to you for review. After your approval, our expert will help you in filing Income tax return.

If the tax liability is more than ₹ 10,000 in a financial year then advance tax needs to be paid by assessee. The due dates are:

Irregular payments of advance tax attract interest @ 1% per month or part of month.

Under this plan our experts will help you access your advance tax liability and assist you in its timely payment.

Prior to return filing, a summary consolidating all financial transactions is prepared. Day to day bookkeeping and audit does not form part of the plan. However on request Taxfolios team can assist with appointing a qualified Chartered Accountant eligible for providing audit services.

For Audit assesse due date of filing Income Tax Return is 30th September. 

For AY 2019-20, CBDT has extended due date for filing ITR & tax audit report to 31st October 2020 from 30th September.

The average time taken to file an income tax return for your business is 3 to 5 working days.