Income Tax Return Filing 2024
Easily file your Income Tax Returns (ITR) online in India from the comfort of your home. Our 100% online CA-assisted ITR Filing service in India makes the process hassle-free. It is mandatory to file taxes within the due date, but with our assistance, you can stay compliant. Whether you are an individual or a business, we can assist you with your ITR. Get in touch with us today.
Income Tax Return Filing
How it works
- Contact us here and provide basic details such as PAN Card, Aadhar Card, etc
- Speak with our Tax specialist about your case details
- Send us the documents via WhatsApp or email
- Our Tax expert will prepare your Income Tax Return and Tax Computation and share the draft computation for your review
- You approve the draft and we go ahead and eFile your ITR
- e - Verify your ITR and complete the process of tax filing
- We will then share the copy of Acknowledgement of Income Tax Return filing with you
Contact us via WhatsApp: Click Here or Email: info@mnpartners.in
Pricing
| Plan | What is covered | Indicative Charges* |
| Salary | Salary Income, Withdrawal from PF Income, Interest from Bank Deposits | 3,000 |
| Salary + Capital Gains | Salary Income, Interest from Bank Deposits, Capital gains from Stocks and Mutual funds | 3,500 |
| Salary + Capital Gains + House Property | Salary Income, Interest from Bank Deposits, Capital gains from Stocks and Mutual funds and Income from House Property | 5,000 |
| Salary + Capital Gains + House Property + Crypto 1K | Salary Income, Interest from Bank Deposits, Capital gains from Stocks & Mutual funds, Crypto Capital Gains (upto 1,000 Transactions) | 7,000 |
| Salary + Capital Gains + House Property + Crypto 5K | Salary Income, Interest from Bank Deposits, Capital gains from Stocks & Mutual funds, Crypto Capital Gains (upto 5,000 Transactions) | 10,000 |
| Salary + Capital Gains + House Property + Crypto 10K | Salary Income, Interest from Bank Deposits, Capital gains from Stocks & Mutual funds, Crypto Capital Gains (upto 10,000 Transactions) | 14,000 |
| Salary + Capital Gains + House Property + Crypto 10K plus | Salary Income, Interest from Bank Deposits, Capital gains from Stocks & Mutual funds, Crypto Capital Gains (above 10,000 Transactions) | WhatsApp for Quote |
| Foreign Income | Income earned outside India, Income earned in India for NRE/NRO Account and DTAA guidance | 4,000 |
| Professional income | Freelancers and Professional income | 4,000 |
| HUF Filings | Filings for HUF | 3,000 |
Please note that the charges listed above are indicative. Actual charges could be lower or higher depending on the complexity of the case. GST charges for a GST bill are not included in the amounts above. Audit and DSC, if required, will incur an additional cost, though most cases do not require them.
Pricing Plans for Belated and Revised Filings are same.
For a quote on Defective Return filings, please contact us here.
Contact us via WhatsApp: Click Here or Email: info@mnpartners.in
List of Required Documents
You only need to provide only those documents which are applicable to you. No original documents are required to attach in tax returns for Financial Year 2023-24.
- Income from Salary (if applicable) - Form(s) 16, 16A, 16AA / Salary Certificate(s) issued by the Employer(s) for the Financial Year 1st April 2023 - 31st March 2024.
- Income from House Property (if applicable) - Rent receipts, interest certificates for home loans (if any).
- Income from Business and Profession (if applicable) - Bank Statements, Books of accounts (if maintained), Balance sheet and Profit Loss accounts if the company is a sole proprietorship.
- Income from Capital Gains (if applicable) - Sale proceed details of assets resulting in capital gains or losses within the FY 2023-24. This also includes transactions done in stocks and equity markets. Crypto Transactions from India and International Exchanges. Transactions from Crypto Wallets or Wallet Addresses so that we can pull the transactions on our end.
- Income from Other Sources (if applicable) - Interest Certificates from investments or any other transactions.
- Income from Family (if applicable) - If you have any investments done by you on behalf of your dependent family members and any income arises from those would be taken in your account.
- Tax Deductions - Any investments or donations or transactions done for deductions under sec 80 like insurance policy, deposits in PPF, ELSS, Infrastructure Bonds purchase receipts etc.
- TDS/ Advance Tax challans (if paid) to avail tax refund
- Photocopy of PAN Card (MANDATORY)
- Income Tax Portal Login Details (MANDATORY)
- Last year's Acknowledgement copy of Income Tax Returns
| # | TYPE OF TAXPAYER | DUE DATE | TAX AUDIT CASES |
1 | Company | 30 Sep 2024 | 30 Sep 2024 |
2 | Limited Liability Partnership | 31 Jul 2024 | 30 Sep 2024 |
3 | Partnership | 31 Jul 2024 | 30 Sep 2024 |
4 | Proprietor | 31 Jul 2024 | 30 Sep 2024 |
5 | Individual | 31 Jul 2024 | 30 Sep 2024 |
Contact us via WhatsApp: Click Here or Email: info@mnpartners.in
FAQs
What does self assessment mean?
Income tax return filing is a process of self-assessment where taxpayers need to calculate their taxable income earned during the previous year and the corresponding income tax payable. Prior to filing the return, the tax owed must be settled. This can be done online or by depositing a cheque or cash via Challan 280 at a bank.
In case a taxpayer misses the deadline for filing their income tax return, they can still submit it as a "belated income tax return" within the last date of the assessment year. However, any losses or accumulated depreciation cannot be carried forward, and it's important to note that a belated return cannot be revised in case of errors.
What is the Penalty For Not Filing The ITR?
Under section 139 of the Income Tax Act, 1961, filing an ITR is a mandatory requirement, and failure to do so can result in a penalty of up to Rs. 5,000/-. This penalty is in addition to any interest or other consequences that may arise due to non-payment of tax. However, if a taxpayer can demonstrate a valid reason to the satisfaction of the Income Tax Officer (ITO), the penalty may be waived off or reduced.
Can I file my Income Tax Return after the due date?
Yes, you can file a belated return after the due date, but you may incur late fees and interest on any outstanding tax liability. Belated returns can be filed up to three months before the end of the assessment year or before the completion of the assessment, whichever is earlier.
What is the difference between a revised return and a rectification return?
A revised return (under Section 139(5)) allows you to correct errors in an already filed return by resubmitting it before the end of the assessment year. A rectification return (under Section 154), on the other hand, is used to correct mistakes made by the Income Tax Department in processing your return, like calculation or clerical errors.
Is it necessary to file an ITR if my income is below the taxable limit?
While not mandatory for all, filing an ITR can be beneficial if you have tax-deducted-at-source (TDS) refunds, need to establish proof of income, plan to apply for a loan, or intend to carry forward losses for future tax benefit.
Can I claim deductions under Chapter VI-A for belated returns?
Yes, deductions under Chapter VI-A (such as Sections 80C, 80D, and others) can still be claimed in a belated return, provided you have proof of the qualifying investments and expenses made within the financial year.
What happens if I make a mistake in my ITR?
If you realize an error after filing, you can submit a revised return before the end of the assessment year or before your assessment is completed. Common mistakes can be corrected, including wrong bank details, missed deductions, or incorrectly reported income.
How long should I retain documents related to my ITR?
As per the Income Tax Act, you should keep your ITR documents for at least six years. However, if you have any carry-forward losses, it's advisable to keep records for eight years from the end of the relevant assessment year.
Can I file an ITR if I don’t have an Aadhaar number?
Yes, as long as you have applied for an Aadhaar card, you can file your ITR by quoting your Aadhaar enrollment ID. However, linking your PAN with Aadhaar is mandatory for completing the return process.
What is the benefit of filing an ITR if I am a student with no taxable income?
Filing an ITR, even with zero taxable income, can help establish a financial record, claim TDS refunds, build a history for loan applications and assist you in Visa processing for foreign countries. It also showcases your financial responsibility to lenders and government authorities.
Can I file a defective return if I missed some information in my original filing?
If your return is marked defective under Section 139(9), the Income Tax Department will notify you, and you’ll have a limited time to correct and re-file it. Ignoring this could lead to your return being invalidated, so prompt action is necessary.
Are digital signatures mandatory for all ITR filings?
Digital signatures (DSC) are mandatory for companies and taxpayers whose accounts are required to be audited. For other individual taxpayers, verification can also be done via Aadhaar OTP, net banking, or sending a signed physical copy to the CPC.
Can I claim a refund if I filed a nil return but had TDS deducted?
Yes, you can file a revised return or rectify your existing ITR to claim a TDS refund. Ensure you have Form 16 or 26AS to validate the TDS deductions against your income.
What if my bank account gets closed after I file the ITR but before the refund is credited?
If your bank account is closed, you need to update your new account details through the Income Tax e-filing portal. Under "Refund Reissue Request," you can provide the correct account details to ensure the refund is reissued to the active account.
Contact us via WhatsApp: Click Here or Email: info@mnpartners.in
Recent Changes
The Central Board of Direct Taxes (CBDT) has proactively released Income Tax Return (ITR) forms for the Assessment Year 2024-25 well in advance. The recent notification includes ITR Forms 2, 3, 5, and 6, allowing taxpayers ample time to prepare and file their returns effectively.
Earlier announcements from December 22, 2023, had already informed about the availability of ITR-1 (SAHAJ) and ITR-4 for the same assessment year. With the subsequent notification covering all forms from 1 to 6, taxpayers can anticipate smooth compliance processes starting from April 1, 2024.
Here's a brief summary of the different ITR forms and their eligibility criteria:
ITR-1 (SAHAJ): Reserved for resident individuals with total income up to Rs. 50 lakh, deriving income from salaries, one house property, and other sources.
ITR-2 & 3: Designed for individuals and Hindu Undivided Families (HUFs) without income from business or profession. ITR-2 is for those ineligible for ITR-1, while ITR-3 caters to individuals with income from business or profession.
ITR-4 (SUGAM): Aimed at resident individuals, HUFs, and firms (excluding LLPs) with total income up to Rs. 50 lakh, deriving income from business or profession under sections 44AD, 44ADA, or 44AE. Notably, a new field for reporting cash receipts has been introduced in Schedule ‘BP,’ facilitating better disclosure of gross turnover details.
ITR-5: Applicable to entities other than individuals, HUFs, and companies, such as partnership firms and LLPs.
ITR-6: Intended for companies not eligible for exemption under section 11 of the Income-tax Act, 1961.
The updated forms incorporate changes aligned with recent amendments to the Income-tax Act, 1961, introduced via the Finance Act, 2023. These adjustments aim to enhance the filing experience and streamline compliance processes for taxpayers.
It’s essential for taxpayers to acquaint themselves with the specific requirements of each form to ensure accurate and timely filing. The complete notifications of the ITR forms are accessible on the Income Tax Department’s official website, providing comprehensive guidance for taxpayers.
The timely notification of ITR forms for the Assessment Year 2024-25 reflects the CBDT’s commitment to facilitating taxpayer compliance and improving the ease of filing.
How can I file the ITR by myself?
Contact us via WhatsApp: Click Here or Email: info@mnpartners.in
Our Terms and Conditions for Income Tax Return Filing Services
1. Scope of Services: CA Mitesh and Associates provides Income Tax Return (ITR) preparation and filing services, which may include income computation, assessment of deductions and exemptions, preparation and submission of Income Tax Return (ITR) to the Income Tax Department of India.
Any additional services, such as tax planning, representation in assessments, or response to notices, will incur extra charges and will be provided only upon mutual agreement.
2. Client Responsibilities: Accurate Information: Clients are responsible for providing accurate and complete financial information, documentation, and other relevant details necessary for ITR filing. Timely Submission: Clients must ensure timely submission of all required documents and details to enable our Firm to meet filing deadlines. Verification of Data: Before the final submission of the return, clients should review and confirm the accuracy of all details in the draft computation provided by the Firm.
3. Fees and Payment Terms: Fees for ITR filing services will be communicated at the time of engagement. An advance payment is required before work begins, with the remaining balance due prior to the final submission of the return, unless otherwise agreed. Any additional work outside the agreed-upon scope will incur separate charges, which will be communicated to the client in advance. Payments are non-refundable once the ITR is filed. In the unlikely event of errors or omissions due to the Firm, we will assess appropriate adjustments required.
4. Confidentiality: CA Mitesh and Associates will treat all client information as most confidential and will not disclose it to any third party except as required by law or with client consent.
The Firm complies with the relevant data protection regulations and takes reasonable measures to safeguard client information.
5. Limitation of Liability: The Firm's liability for any claim, loss, or damages arising out of or in connection with ITR filing services is limited to the amount paid by the client for the specific service rendered.
CA Mitesh and Associates is not liable for any penalties, fines, or other consequences arising from errors due to incomplete or inaccurate information provided by the client.
6. Client Acknowledgments: Compliance with Tax Laws: Clients acknowledge their responsibility to comply with all applicable tax laws. The Firm provides filing services based on the information provided by the client but does not guarantee specific outcomes or tax refunds.
Professional Judgment: While the Firm exercises due diligence in preparing tax returns, clients understand that the services are subject to interpretations of tax laws, which may change and affect tax positions.
7. Amendments and Corrections: Any amendments to the filed ITR, requested by the client due to overlooked information or changes in financial data, will be treated as a new service request and may incur additional fees. Corrections due to errors on the Firm’s part will be made at no additional cost to the client.
8. Termination of Services: CA Mitesh and Associates reserves the right to terminate services if the client fails to provide necessary information or payment, or for any other reason as deemed necessary by the Firm.
In case of termination, the Firm will refund any unused portion of the fee, except where work has been substantially completed.
9. Governing Law and Jurisdiction: These Terms and Conditions are governed by the laws of India. Any disputes arising out of or in connection with the services provided by CA Mitesh and Associates will be subject to the jurisdiction of courts in India.
10. Contact Information: For any queries or clarifications regarding these Terms and Conditions, clients may contact CA Mitesh and Associates via email - info@mnpartners.in. By engaging CA Mitesh and Associates for ITR filing services, the client acknowledges having read, understood, and agreed to these Terms and Conditions.