Income Tax Consultant
As we are Top Income Tax Consultant in Ujjain
We would like to guide you on the aspects of Income Tax which are as follows:
What Is Income Tax?
Services Provided in Income Tax:
- PAN Card
- Filing of Income Tax
- TDS returns
- Consultancy on Income Tax Mattes
- Tax Refunds
- Tax Planning & Savings
- Maintenance of Income Tax Records
- Liaisoning with Income Tax Authorities
- Tax deduction account numbers
New Income Tax Slab for Individual FY 2020-2021
|Income Tax Slab||Tax Rate|
|Up to Rs.2.5 lakh||Nil|
|From Rs.2,50,001 to Rs.5,00,000||5% of the total income that is more than Rs.2.5 lakh + 4% cess|
|From Rs.5,00,001 to Rs.7,50,000||10% of the total income that is more than Rs.5 lakh + 4% cess|
|From Rs.7,50,001 to Rs.10,00,000||15% of the total income that is more than Rs.7.5 lakh + 4% cess|
|From Rs.10,00,001 to Rs.12,50,000||20% of the total income that is more than Rs.10 lakh + 4% cess|
|From Rs.12,50,001 to Rs.15,00,000||25% of the total income that is more than Rs.12.5 lakh + 4% cess|
|Income above Rs.15,00,001||30% of the total income that is more than Rs.15 lakh + 4% cess|
Important Points to Note for filing Income tax Return
1. Income tax return (ITR) is the tax form which is used by taxpayers to fi le information about the income earned and tax applicable with the income tax department.
2. The ITR forms to be selected depends upon the sources of income of the taxpayer, the amount of income earned and the category the taxpayer belongs to.
3. The department has 7 forms as of date— ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 & ITR 7. Taxpayers need to file the ITR on or before the specified due date .
4. ITR1 is for Individuals having Income from salaries, one house property, other sources and having a total income of up to Rs 50 lakh.
5. A penalty is applicable if the ITR is not filed by the due date and the amount varies based on the income and delay.
Request for Consultation
We offer a consultation to individuals and businesses.