News & Updates
Why Do You Need Help of Professionals for ITR and Assessments?
ITR or Income tax return is not just a form to be submitted to the income tax department. It has now emerged as a much more comprehensive document that would include the information regarding the sources income, assets possessed , bank account particulars, and the respective tax liability accrued
Maintenance of book of accounts for your business if you are self-employed or if it’s a company or partnership . Furthermore, in circumstances where the annual revenue exceeds Rs. 1 Crore, a Chartered Accountant’s audit is required( Limit revised to 10 crores subject to certain conditions ).
With several sources of income, a complicated break-up of salary, business income, on the other hand, may require the assistance of a professional help in order to obtain suitable tax deductions and comply with income tax requirements. Emblaze, being amongst the best service providers of Income Tax Filing in Kochi, Kerala, Chennai offers assistance through their professional hands, who could thoroughly take care of all the statutory provisions and technical requirements of filing income tax returns.
With the strengthening of the technology based tools and reports like the recently introduced Annual information system ( AIS) , 26 AS etc, the assesse cannot afford to be complacent on the financial transactions to be reported in the income tax returns . Sale of immovable property, units of mutual funds, equity instruments, cash transactions above a prescribed threshold are some of the cases, which would need to be considered while compiling the information to be furnished and computing the taxable income and tax thereon
Tax returns are carefully observed randomly, resulting in notices or a demand for additional tax from the tax department. Taxpayers should never neglect such updates. If you ignore to respond there is a chance of increasing the interest or penalties if there are any pending liabilities. With faceless assessments taking over the manual processes and the income tax Tax filing portals getting more dynamic a timely and detailed response is inadvertent to such notices and orders
Therefore, seek the support of experts for an error free income tax return filing process and for furnishing of responses, filing of representations on your behalf .Our team of tax professionals can also assist you in planning your taxes for the current and future years. Get in touch with us soon for availing our services on +91 999 549 2484 or give a quote request at mail@emblazetcs.com.
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