Frequently Asked Questions

The last date for filing ITR for individuals and businesses not requiring audit is July 31. For businesses requiring audit under section 44AB, the due date is October 31.

ITR-1 (Sahaj) is for salaried individuals with income up to ₹50 lakhs. ITR-2 is for individuals with capital gains or foreign income. ITR-3 is for business/profession income. ITR-4 (Sugam) is for presumptive income. ITR-5 and ITR-6 are for firms and companies respectively.

You can file ITR online through the Income Tax e-filing portal (incometax.gov.in). Register/login with your PAN, verify your pre-filled data, enter income details, claim deductions, compute tax, and submit. After filing, e-verify your return within 30 days using Aadhaar OTP, net banking, or other methods.

Key documents include: Form 16 from employer, Form 26AS and AIS, bank statements, investment proofs for deductions (Section 80C, 80D, etc.), capital gains statements, rental agreements for HRA, home loan interest certificates, and PAN card.

You can check your ITR refund status on the Income Tax e-filing portal under "View Refund/Demand Status". You can also check on the NSDL website using your PAN. Refunds are typically processed within 20-45 days of e-verification.

GST registration is mandatory for businesses with an aggregate turnover exceeding ₹40 lakhs for goods and ₹20 lakhs for services. For special category states (North-Eastern states, Himachal Pradesh, Uttarakhand, etc.), the limit is ₹20 lakhs for goods and ₹10 lakhs for services.

GSTR-1 (outward supplies) must be filed monthly by the 11th of the following month for businesses with turnover above ₹1.5 crore. For quarterly filers (QRMP scheme), it is due by the 13th of the month following the quarter.

GSTR-3B (summary return) is due by the 20th of the following month for monthly filers. For quarterly filers under the QRMP scheme, GSTR-3B is due by the 22nd or 24th of the month following the quarter, depending on the state.

The Composition Scheme allows small taxpayers with turnover up to ₹1.5 crore (₹75 lakhs for special category states) to pay GST at a fixed percentage of turnover. Manufacturers pay 1%, traders pay 1%, and restaurants (non-alcoholic) pay 5%. Composition dealers cannot collect tax from customers or claim input tax credit.

PAN (Permanent Account Number) is a 10-digit alphanumeric identifier issued by the Income Tax Department. It is mandatory for filing tax returns, making high-value transactions, and is linked to all financial activities. PAN is required for both individuals and entities.

Aadhaar is a 12-digit unique identity number issued by UIDAI. It is mandatory to link Aadhaar with PAN for filing income tax returns. You can e-verify your ITR using Aadhaar OTP, which eliminates the need to send a physical copy of ITR-V to the Income Tax Department.

You can reach us via: Email at [email protected], Phone at +91 9999999999, or use the live chat feature on our website. Our support team is available Monday to Saturday, 10 AM to 7 PM IST.

Advance tax must be paid in instalments: 15% by June 15, 45% by September 15, 75% by December 15, and 100% by March 15. Advance tax is applicable if your total tax liability exceeds ₹10,000 in a financial year after TDS.

You can pay income tax online through the NSDL website (tin-nsdl.com) or the Income Tax Department's e-payment portal. Select the appropriate Challan (Challan 280 for income tax, Challan 281 for TDS), enter your PAN and other details, choose the assessment year and tax head, and pay via net banking or debit card.

Challan 280 (ITNS 280) is used for payment of Income Tax, Surcharge, Cess, and Interest. It is used for making advance tax payments, self-assessment tax payments, and regular assessment tax payments. You can pay online through the NSDL e-payment portal using net banking or debit card.