An Income Tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Earnings subject to income taxes can come from diverse sources, including wages, salaries,dividends, interest, royalties, rents, gambling winnings, and product sales.
- Personal Tax Filings – An Individual is required to file his Income Tax Return every year that reports all the income of the previous year and any taxes due on it.
- Business Tax Filings – Every person carrying a business is required to file its business Income Tax Return every year that reports all the income of the previous year and any taxes due on it.
- Tax Audit – Any business where total sales, turnover or receipts exceeds the amount prescribed in Income Tax law is required to file Tax Audit Report.
- Tax Notice Reply – In case, Income Tax notice is received by the assessee then Tax notice reply is to be filed within the prescribed time limit.
- Tax Appeals – If an Income Tax Liability is assessed by the Assessing Officer then Appeal can be filed by the aggrieved tax payer.
- TDS Filing – If a person is liable to make payment to any other person will deduct tax at source and transfer the balance to the deductee. The TDS amount deducted will be remitted to the Central Government by filing TDS Returns.
- TDS on Sale of Property – the purchaser of an immovable property (other than rural agricultural land) worth Rs 50 lakh or more is required to pay withholding tax at the rate of 1% from the consideration payable to a resident transferor and deposit the same in Government treasury.
- Form 16 Generation – Form 16 is a certificate issued to salaried individuals from their employer when he deducts tax from the employee salary. Employers can get our service for Form 16 generation.
- Income Tax Planning – Tax planning is a legal way of reducing your tax liabilities in a year. It will help you to utilise the tax exemptions, deductions, and benefits in the best possible way for minimising your tax burden.
- Income Tax Consultation - All Income Tax related queries will be solved by our Expert team.
Looking for affordable income tax services in Navi Mumbai & Lucknow? Look no further than Simple Filings. We provide accurate and timely tax preparation and filing services for businesses and individuals.