income tax return

GST

INCOME TAX RETURN FILLING

Filing an Income Tax Return (ITR) is the process of declaring your income, deductions, and tax liabilities to the government. It ensures compliance with tax laws and enables taxpayers to claim refunds if excess tax has been paid.

Software for GST: We at P Square An Income Tax Return (ITR) is a form where taxpayers report their income, tax deductions, and liabilities for a financial year.
Report income from all sources, including salary, business, property, and capital gains.
Include deductions under sections like 80C, 80D, and 80G (e.g., for investments, health insurance, or donations).
Determine your total taxable income and calculate tax payable. Cross-check with Form 26AS or AIS/TIS for TDS and advance tax payments. Use the portal to monitor your ITR filing status and refunds.

P Square Accounts

Types of INCOME TAX RETURN FILLING

India has a Dual GST Model. Under this tax maybe levied simultaneously by both Central and State governments on certain taxable supplies. Such as on inter-state supplies, tax is levied by Central Government.


ITR Forms for Individuals ITR Forms for Non-Individuals
ITR – 1 (Sahaj) – For individuals earning income from salaries, one house property, interest income, agriculture, other sources, etc. ITR – 5 – Entities other than,- (i) individual, (ii) HUF, (iii) company, and (iv) person filing Form ITR-7
ITR – 2 – For Individuals and HUFs having income other than from profits and gains of business or profession. It may be from capital gain, lottery or foreign assets, etc. ITR – 6 – All companies except those that claim tax exemption as per Section 11.
ITR – 3 – For individuals and HUF with income from profits of a business or profession. ITR – 7 – Person incl. companies required to furnish returns under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only.
ITR – 4 (Sugam) – For Individuals, HUFs, and Firms (other than LLP) having presumptive business income tax returns. This is computed under sections 44AD, 44ADA, or 44AE.

Who Must Get INCOME TAX RETURN FILLING

All businesses involved in buying or selling goods or providing services, or both, should register for GST. But for below-listed persons, GST Registration is compulsory.

  • Previous Law Converted Taxpayer – All individuals or companies registered under the Pre-GST tax laws like Service Tax or Excise or VAT, etc.
  • Turnover for Goods Provider – If your sales or turnover of goods is crossing Rs. 40 lakh in a year then GST Registration is mandatory. For the Special Category Status, the limit is Rs. 20 lakh in a year.
  • Turnover for Service Provider – If you are a service provider & sales or turnover is crossing Rs. 20 lakh in a year then GST Registration is mandatory. For the Special Category Status, the limit is Rs. 10 lakh in a year
  • Casual Taxpayer – If you supply goods or services, in events/exhibitions, and not have a permanent place of doing business. In such cases, GST is charged based on an estimated turnover of 90 days. The validity of the Registration is also 90 days.
  • Agents of Suppliers or Input Service Distributor (ISD) – All supplier agents and ISD, to earn benefits of Input Tax Credit, need GST Registration.
  • NRI Taxable Person – If you are an NRI or handling the business of NRI in India.
  • Reverse Charge Mechanism (RCM) – Businesses who need to pay taxes under the RCM also need to be GST registered.
  • E-Commerce Portals & Sellers – Every e-commerce portal (such as Amazon or Flipkart) under which multiple vendors are selling their products. Or for all vendors. You need a GST Registration.

INCOME TAX RETURN FILLING Process on Government Portal

To register for GST on the Government site, you need to follow the below steps. Cautiously & Accurately.

  • Go to the Government GST Portal and look for Registration Tab.
  • Fill PAN No., Mobile No., E-mail ID and State in Part-A of Form GST REG-01 of GST Registration.
  • You will receive a temporary reference number on your Mobile and via E-mail after OTP verification.
  • You will then need to fill Part-B of Form GST REG-01. To be duly signed (by DSC or EVC) and upload the required documents specified according to the business type.
  • An acknowledgment will be generated in Form GST REG-02.
  • In case any information is pending from your side. It will be sought from you by intimating you in Form GST REG-03. for this, you may be required to visit the department and clarify or produce the documents within 7 working days in Form GST REG-04.
  • The office may also reject your application if they find any errors. You will be informed about this in Form GST REG-05.
  • Finally, a certificate of registration in Finally, a certificate of registration will be issued to you by the department after verification and approval in Form GST REG-06.

Procedure for

INCOME TAX RETURN FILLING through P Square

Fill out the application form available on our website.

Submit the required documents based on your income tax return category.

We will file all necessary forms and declarations on your behalf.

Once your income tax return is processed, we will notify you via email.

Package in included

What is included in our Package

Income Tax Filing

Tax Calculation

Tax Refund Processing

Tax Compliance & Reporting

GST Tax Return Filing

About

What is Form 16?

Form 16 can be termed as Salary TDS (Tax Deducted at Source) Certificate that an employer issue to you for the TDS deducted. Form 16 is an Income tax form, used by the companies to provide their salaried employee’s information on the tax deducted. As soon as the income from your salary for the financial year exceeds the basic exemption limit, the employer is required to deduct TDS. The deducted amount is to be deposited to the Government. After deducting TDS from the salary, the employer is required to give a certificate to the employee consisting of the details. This certificate is known as Form 16.

Why should you

Already Practicing Return Filing in India

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Below is a detailed

Frequently Asked Questions

What is income tax?

Income tax is a tax imposed by the government on the income earned by individuals, businesses, or other entities. It is used to fund various public services and infrastructure.

How do I file my income tax return?

You can file your income tax return either online through the official tax portal or by seeking assistance from a tax professional who can guide you through the process.

What documents are required for filing taxes?

Documents typically required include proof of income (such as salary slips or business revenue), tax deduction certificates, investment proofs, and previous year tax returns (if applicable).

How can I check the status of my tax refund?

You can check the status of your tax refund by logging into the official income tax website using your PAN number or unique acknowledgment number for tracking purposes.

What is the deadline for filing taxes?

The deadline for filing taxes varies by country, but in most cases, it falls within a few months after the financial year ends. It is advisable to check with your local tax authority for specific deadlines.

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