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?

An income tax is the charge imposed on the individuals or firms that changes with the income and profits (taxable income) of the taxpayer within their jurisdiction. Income tax is of 2 types viz; personal / individual tax and company / corporate tax. The personal tax is levied on individual persons. The corporate tax is levied on incorporated firms. Income tax is a source of revenue for government. They are utilized to fund public services, pay government obligations, and provide goods for citizens.  

Services Provided in Income Tax:

We are Income Tax Consultant in Ujjain with accurate service.We are best in providing these services:
  • 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
We do Income Tax Consultancy Online also.

New Income Tax Slab for Individual FY 2020-2021

Income Tax SlabTax Rate
Up to Rs.2.5 lakhNil
From Rs.2,50,001 to Rs.5,00,0005% of the total income that is more than Rs.2.5 lakh + 4% cess
From Rs.5,00,001 to Rs.7,50,00010% of the total income that is more than Rs.5 lakh + 4% cess
From Rs.7,50,001 to Rs.10,00,00015% of the total income that is more than Rs.7.5 lakh + 4% cess
From Rs.10,00,001 to Rs.12,50,00020% of the total income that is more than Rs.10 lakh + 4% cess
From Rs.12,50,001 to Rs.15,00,00025% of the total income that is more than Rs.12.5 lakh + 4% cess
Income above Rs.15,00,00130% 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.

 

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We offer a consultation to individuals and businesses.

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