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An accurate Income Tax Return (ITR) is your key to maximum refunds and, in the process, minimisation of your tax liabilities. Let's get you rolling with the basics, whether you are a first-timer at ITR filing or you are trying to smarten up the old act.

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JJ Tax - Your Trusted Income Tax Return Filing Expert

JJ Tax is your one-stop partner to ensure stress-free ITR filing. We make it as easy as possible ensuring everything is accurately and efficiently done on time.

Why Choose JJ Tax?

Expert Guidance

They give clear and understandable information on how to deal with tax issues and what are the strategies for tax planning.

Accuracy and Compliance

Prevention of errors and penalties through a timely and correct filing of tax returns are guaranteed.

Optimised Tax Outcomes

Help in identifying deductions and credits to Maximise tax savings.

How JJ Tax Assisted ITR Filing Works?

Step 1

Membership Purchase

Purchase the best suited membership plan according to your income sources.

Step 2

Documentation & Preparation

Next, you will have to provide the necessary documents such as income proof and investment-related information.

Step 3

Optimised Filing and Review

Our team of experts will prepare your ITR with all precision, keeping in mind a maximised deduction and optimising your return filing.

Step 4

Post-Filing Support

We also provide after-filing services with you, answering all and any questions, or solving problems raised by the tax authorities, so that you fully comply with the law and are relatively stress-free.

Who Needs to File ITR?

Understanding who needs to file ITR is very vital for ensuring compliances with tax laws, hence availing maximum benefits. Let’s have a brief look at them.

Mandatory Filing Criteria

  • Income Thresholds: If your total income is in excess of the basic exemption limit, then you are required to file an ITR.
  • Other Sources of Income: Even if your income threshold doesn’t surpass the limit, you are liable to file the ITR regarding the various sources of income like capital gains, foreign assets, or profits of the business.
  • Eligibility for Refunds: If taxes have been deducted at source (TDS) on your income and you are eligible for a refund, an ITR should be filed in order to claim it.

Voluntary Filing

  • Benefits of Filing ITR: Filing ITR voluntarily, even when not mandatory, helps build a solid financial history, which can be advantageous for loan or visa applications.

Additional Criteria

  • Foreign Travel and Assets: ITR Filing is required if you spend over Rs. 2 lakh on foreign travel or possess foreign assets.
  • Bank Deposits: Individuals who have deposited over Rs. 1 crore in a bank account within a financial year must file an ITR.

Benefits of Expert ITR Filing

Filing the ITR is more than a legal requirement. Here is how it helps you:

Tax Refunds

You can claim a refund through ITR filing, if you have paid more tax than the actual tax liability. Moreover, if there is any delay in processing, then it would also let you fetch interest on the refunded amount.

Easier Loan Approvals

ITR receipts, as seen, are proofs of income that are commonly needed for bank and financial institution loan approvals. Regular ITR filing will help you get loans easier, demonstrating financial stability on your part.

Improved Financial Transparency

ITR filing helps to keep a track of your revenues, expenses, and tax payments; thus, you can be on top of your financial well-being. This also enhances transparency, aiding in better financial planning and making well-informed decisions about investments.

Compliance

A proper and regular ITR filing procedure ensures compliance with tax laws, keeping the penalties and legal tussles away.

Visa Applications

Most countries require ITR receipts at the time of visa applications to show evidence of financial stability, and hence it qualifies to be one of the documents needed while travelling outside the country.

What are the Different Types of ITR?

Choose the right form according to your source of Income.

  • For: Salaried individuals, pensioners, and those with income from one house property and other sources like interest.
  • Use When: Your total income is below Rs. 50 lakh.

File ITR 1

  • For: Individuals and Hindu Undivided Families (HUFs) with income from multiple sources, including more than one house property or capital gains.
  • Use When: If the income is in excess of ₹50 lakh or it involves foreign assets.

File ITR 2

  • Income from Salary or Pension; or
  • Income from House Property; or
  • Income from Capital Gain; or
  • Income from Other Sources (including Winnings from Lottery and Income from Race Horses)

File ITR 3

Upto INR 50 Lakhs and Profits from Business or Profession is computed under Section 44AD, 44ADA, 44AE.ITR-4 can not be filed by an Individual/HUF whose a Non-resident Indian.

File ITR 4

  • For: Partnership firms, LLPs, and Association of Persons (AOPs).
  • Use When: The entity is not a company or a trust.

File ITR 5

  • For: Companies other than those claiming exemption under Section 11 (for income from property held for charitable purposes).
  • Use When: The company is not claiming exemptions under Section 11.

File ITR 6

ITR-7 can be used by persons including companies who are required to furnish return under section

  • 139(4A) - related with trust income
  • 139(4B) - deals with political parties
  • 139(4C) - deals with scientific research
  • 139(4D) - related with the university and college

File ITR 7

Consulting an ITR Filing Expert can help ensure you use the correct form and meet all filing requirements.

Filed ITR, now what?

 

ITR needs to be e-verified within
30 days from the date of filing.

Click to

E-verify ITR

E-verification can be done using

  • Aadhaar OTP
  • Net Banking
  • Digital Signature Certificate
  • Electronic Verification Code (using bank account / demat account)
  • Electronic Verification Code (using Bank ATM - offline method)

Forgot to file your ITR?

 

File Belated Return with us

Want to rectify your ITR?

 

Let the experts do it for you

Still Confused? Talk to Our ITR Filing Experts!

If you're unsure about which ITR form to use or have any doubts about the filing process, don’t worry! Our team of ITR Filing Experts at JJ Tax is here to assist you. Whether you’re curious about who needs to file ITR or the benefits of ITR filing, we’ll provide the guidance you need.
Get accurate, hassle-free filing with expert support.

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People also ask on ITR Filing experts

1. What are the ITR filing plans available with JJ Tax??
JJ Tax offers a range of ITR filing plans from basic packages for salaried individuals to comprehensive options for business owners. Explore Plans
2. How much does ITR filing cost?
The ITR filing cost varies depending on the complexity of your return. JJ Tax offers affordable pricing with expert assistance. Check Pricing
3. Can I file ITR myself?
Yes, you can, but having an ITR Filing Expert ensures accuracy, compliance, and maximised refunds.
4. Do I need a CA to file an ITR?
A CA is not required, but expert guidance can simplify the process and help avoid errors.
5. How can I file my ITR easily?
Opt for assisted filing with JJ Tax, where professionals handle everything from start to finish. Learn more at JJ Tax ITR Filing.
6. What is assisted filing?
Assisted filing involves experts preparing and submitting your ITR, ensuring accuracy and compliance.
7. What should be the ITR type for individuals?
The correct ITR form depends on your income sources. Refer to our 'Different Types of ITR' section for details.
8. When can I start filing my ITR?
You can start filing your ITR from April 1st each year.
8. Is ITR Filing Mandatory?

ITR filing is mandatory under specific circumstances, depending on your income, financial activities, and legal obligations. Here’s a breakdown:

  • Income Exceeds Exemption Limits: If your annual income surpasses the basic exemption limit(Refer to our 'Who Needs to File ITR?' section), you must file an ITR.
  • Multiple Income Sources: Income from more than one house property, capital gains, or foreign assets also necessitates filing.
  • Refund Claims and Loss Carry forwards: Filing is compulsory for claiming refunds or carrying forward losses.
  • Business and Professional Gross Receipts: If these exceed specified thresholds, an ITR must be filed.
Even if your income is below the exemption limit, filing can be beneficial, especially for loan approvals. Consulting an ITR Filing Expert ensures compliance and maximises the benefits of ITR filing, tailored to your specific situation.

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