Income tax filings
Ryot Associates provide Income tax filings in Coimbatore, Tirupur, Erode, Namakkal, Chennai, Bangalore and all other places in India. India tax structure is classified into two categories as Direct tax and Indirect tax. Income tax is direct tax which is paid by the Individuals, HUF, Firm, LLP and Companies directly on prescribed rate on their incomes received. Income accrued or earned in India is subject to tax in India on applicable tax rate. Rate and Tax slab was determined by the Government of India in their budget in the month of February every year.
Income earned is taxable at various heads such as
Income tax filing is mandatory only when the income exceeds the basic exemption limit which is 2.5 lakh as of last budget. This limit is different for senior citizens and super senior citizens. But even person having income less than 2.5 lakh can file return of income voluntarily.
There are different due dates for filing IT returns
31st July – For Individuals, HUF, Firms, LLP having income less than 2 crore and Non- Tax audit cases.
30th September – For Individuals, HUF, Firms, LLP having income more than 2 crore and Tax audit cases and also form Companies registered under Companies act.
For free Income tax returns e-filing consulting contact 7871787158