FinacBooks Podcast: Recent Episodes
FinacBooks
FinacBooks is India’s #1 Portal for Chartered Accountants (CAs), which is bridging the gap between the CAs and individuals & businesses. We aim to provide every individual or business with a platform to connect and get services from a Chartered Accountant on-demand.FinacBooks allows both potential customer and emerging CAs to come together in a single trusted platform for a better service.FinacBooks has more than 10 years of experience in offering accounting, financial, taxation, and real estate-related services to individuals, builders, developers, and business owners. Our wide network of CA’S has operations and serves clients all across India.Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, license registration, special entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
In order to promote transparency and simplify the tax return filing process, CBDT amended Form 26AS. The new Form 26AS is an Annual Information Statement or AIS which will provide a complete profile of the taxpayer for a particular year. Let us see the list of 50 transactions reported in the Annual Information Statement (AIS).
Hence, it is important for you also to know what transactions are ported in the Annual Information Statement (AIS).
Listen to this informative audio for a step-by-step guide to file GSTR-3B. In addition, you will get guidance on how to complete each and every step or requirement correctly to make your application successful.
Listen to this informative audio for a step-by-step guide to file GSTR-1. In addition, you will get guidance on how to complete each and every step or requirement correctly to make your application successful.
Listen to this informative audio for a step-by-step guide to registering for an Import-Export Code (IEC). In addition, you will get guidance on how to complete each and every step or requirement correctly to make your application successful.
What is an Import-Export Code (IEC) Number?
IEC Code is a unique 10 digit code issued by DGFT – Director General of Foreign Trade, Ministry of Commerce, Government of India to Indian Companies.
The Importer -Exporter Code (IEC) is a key business identification number that is mandatory for Exports or Imports. No person shall make any import or export except under an IEC Number granted by the DGFT.
The process of applying for the IEC code is conducted online on the DGFT website. To start the application process, the applicant has to visit the website to proceed with the application process.
Need help with IEC Registration?
Contact FinacBooks to get connected to a vast network of Chartered Accountants who can help you register and get IEC with ease.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) with more than ten years of experience in offering accounting, financial, taxation, and accurate estate-related services to individuals and businesses. Our vast network of CA’S and Real Estate Agents has operations and serve clients all across India.
Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, licenses registration, unique entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
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Listen to this informative audio to know what is the Import-Export Code (IEC) in India. Furthermore, you will get all the information related to the documents required to register for the IEC Number.
What is an Import-Export Code (IEC) Number?
IEC Code is a unique 10 digit code issued by DGFT – Director General of Foreign Trade, Ministry of Commerce, Government of India to Indian Companies.
To import or export in India, IEC Code is mandatory. No person or entity shall make any Import or Export without IEC Code Number unless specifically exempted.
An individual or a company who wants to do international business can get an IEC. Individuals can use either the name of their company or their name directly to apply for IEC.
Contact FinacBooks to get connected to a vast network of Chartered Accountants who can help you register and get IEC with ease.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) with more than ten years of experience in offering accounting, financial, taxation, and accurate estate-related services to individuals and businesses. Our vast network of CA’S and Real Estate Agents has operations and serve clients all across India.
Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, licenses registration, unique entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
Listen to this informative audio to know what is a Letter of Undertaking (LUT) under Goods and Services Tax (GST) and how you can apply for it. In addition, you will find the detailed eligibility criteria to apply for LUT.
If the exporter fails to provide the LUT, then he has to pay IGST or provide an export bond. Earlier LUT could only be filed offline at the concerned GST office. But to further ease the process the Government has made the LUT application & filing online.
What is LUT under GST?
A LUT is a guarantee that a bank provides to its customer (exporter in this case). Through LUT, the bank allows the exporter to raise short-term credit from a foreign branch of any other Indian bank. In case the exporter fails to pay the credit, the bank undertakes to pay on its customer’s behalf.
As per the IGST Act 2017, the export of goods and services (zero-rated supply) does not fall under the GST Act. The LUT furnished for exports under GST is valid for one year. This means, for every financial year, LUT has to be filed by eligible exporters.
What is GST?
Goods and Services Tax (GST) is an indirect tax (or consumption tax) used to supply goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process but is meant to be refunded to all parties in the various stages of production other than the final consumer. As a destination-based tax, it is collected from consumers and not point of origin like previous taxes.
Contact FinacBooks to get connected to a vast network of Chartered Accountants who can make you understand and help with all GST related matters.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) with more than ten years of experience in offering accounting, financial, taxation, and accurate estate-related services to individuals and businesses. Our vast network of CA’S and Real Estate Agents has operations and serve clients all across India.
Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, licenses registration, unique entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
Listen to this informative audio to know what is a Letter of Undertaking (LUT) under Goods and Services Tax (GST). You will also learn how exporters can benefit from filing LUT under GST.
What is LUT under GST?
A LUT is a guarantee that a bank provides to its customer (exporter in this case). Through LUT, the bank allows the exporter to raise short-term credit from a foreign branch of any other Indian bank. In case the exporter fails to pay the credit, the bank undertakes to pay on its customer’s behalf.
As per the IGST Act 2017, the export of goods and services (zero-rated supply) does not fall under the GST Act. The LUT furnished for exports under GST is valid for one year. This means, for every financial year, LUT has to be filed by eligible exporters.
What is GST?
Goods and Services Tax (GST) is an indirect tax (or consumption tax) used to supply goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process but is meant to be refunded to all parties in the various stages of production other than the final consumer. As a destination-based tax, it is collected from consumers and not point of origin like previous taxes.
Contact FinacBooks to get connected to a vast network of Chartered Accountants who can make your understand and help with all GST related matters.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) with more than ten years of experience in offering accounting, financial, taxation, and accurate estate-related services to individuals and businesses. Our vast network of CA’S and Real Estate Agents has operations and serve clients all across India.
Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, licenses registration, unique entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
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Listen to this informative audio to learn everything about a Producer Company. In addition, you’ll get to know more about its features and benefits.
A Producer Company can be formed by 10 or more individuals or two or more institutions dealing in agricultural produces or post-harvest processing activities. This video offers concise information regarding how to register a producer company anywhere in entire India.
Contact FinacBooks to connect to a vast network of Chartered Accountants who can help you with the producer company registration in India, or receive expert and efficient services.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) with more than ten years of experience in offering accounting, financial and taxation-related services to individuals and business owners. Our vast network of CA’S has operations and serves clients all across India.
Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, license registration, unique entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
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Listen to this informative audio to learn how you can start a Private Limited Company (PLC) in India and the steps involved to get your company registered. You will also get information on how Chartered Accountants can help you start a Private Limited Company (PLC).
Private Limited Company registration is a popular option to start a business in India by start-ups and businesses and it is incorporated under the Companies Act of 2013, and governed by the Ministry of Corporate Affairs (MCA).
Incorporating a company through Simplified Proforma for Incorporating Company electronically (SPICe -INC-32), with eMoA (INC-33), eAOA (INC-34), is the default option and most companies are required to be incorporated through SPICe only.
Contact FinacBooks to connect to a vast network of Chartered Accountants who can help you start a Private Limited Company (PLC) from registration to copyright to business tax filing.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) with more than ten years of experience in offering accounting, financial and taxation-related services to individuals and business owners. Our vast network of CA’S has operations and serves clients all across India.
Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, license registration, unique entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
Listen to this informative audio to learn how you can start a Private Limited Company (PLC) and the benefits you can reap out of it. You will also get the information of the detailed procedure and documents that you require to start a Private Limited Company.
Private Limited Company registration is a popular option to start a business in India by start-ups and businesses and it is incorporated under the Companies Act of 2013, and governed by the Ministry of Corporate Affairs (MCA).
To incorporate under Private Limited Company registration, it is required to have a minimum of 2 shareholders and 2 administrators. One person will behold the position of a director. In addition, any foreign national can also be part of the private limited companies.
Contact FinacBooks to connect to a vast network of Chartered Accountants who can help you start a Private Limited Company (PLC) from registration to copyright to business tax filing.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) with more than ten years of experience in offering accounting, financial and taxation-related services to individuals and business owners. Our vast network of CA’S has operations and serves clients all across India.
Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, license registration, unique entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
Listen to this informative audio to learn how to log in to the New Income Tax e-filing Portal. You will also get to know the alternate ways in which you can access the new portal.
On June 07, 2021, the Central Board of Direct Taxes (CBDT) launched the new income tax e-filing portal. The new portal has a completely new look and design, with a dashboard providing direct access to related important links such as Aadhaar linking and e-Verify of tax returns etc., without requiring the taxpayer to login into the portal.
Major benefits of the new Income Tax portal are:
~ A complete list of FAQs, User Manuals, Videos to help taxpayers in filing returns.
~ It has now become much easier to provide details of income including salary, house property, business/profession which will be used in pre-filling their ITR.
~ New portal enables faster processing of Income Tax Returns (ITRs) that will help to issue quick refunds to taxpayers.
What is E-filing?
E-filing is the short form of electronic filing of income taxes. E-filing is when you electronically file your income tax returns online for a particular year. This means you no longer need to visit the nearest Income Tax Department's office to file your returns physically. Instead, you log onto the internet and do the job.
Contact FinacBooks to connect to a vast network of Chartered Accountants who can help you file Income Tax Returns easily and error-free.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) with more than ten years of experience in offering accounting, financial and taxation-related services to individuals and business owners. Our vast network of CA’S has operations and serves clients all across India.
Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, license registration, unique entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
Listen to this informative audio to learn how to use the new Income Tax (IT) portal for filing your income tax returns. You will also get to know some of the newly launched features which will help you to keep your profile updated and file tax returns diligently and in a timely manner.
Major benefits of the new Income Tax portal are:
~ A complete list of FAQs, User Manuals, Videos to help taxpayers in filing returns.
~ It has now become much easier to provide details of income including salary, house property, business/profession which will be used in pre-filling their ITR.
~ New portal enables faster processing of Income Tax Returns (ITRs) that will help to issue quick refunds to taxpayers.
Also, on this new portal, taxpayers can now add a Chartered Accountant (CAs), e-Return Intermediary (ERI) or any authorized representative for assistance in ITR filing and other related services.
What is E-filing?
E-filing is the short form of electronic filing of income taxes. E-filing is when you electronically file your income tax returns online for a particular year. This means you no longer need to visit the nearest Income Tax Department's office to file your returns physically. Instead, you log onto the internet and do the job.
Contact FinacBooks to connect to a vast network of Chartered Accountants who can help you file Income Tax Returns easily and error-free.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) with more than ten years of experience in offering accounting, financial and taxation-related services to individuals and business owners. Our vast network of CA’S has operations and serves clients all across India.
Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, license registration, unique entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
Listen to this informative audio to learn about the steps to withdraw Employee Provident Fund (EPF) balance in either way online or offline.
Check out the audio to know the exact process to be followed to withdraw PF balance along with pension without deduction of any TDS. This is a step-by-step guide by following which you can withdraw your PF balance within 7 days that too without any TDS.
This process is very easy but if you do not fulfill some of the requirement your PF balance might be stuck and you may face problems from claiming your provided fund balance (PF).
What is Employee Provident Fund (EPF)?
Employee Provident Fund (EPF) is a fund maintained by Employee Provident Fund Organization of India (EPFO). It is a retirement benefit saving scheme under which every employee must contribute 12% of the basic pay into the fund. In the same line, the employer also contributes a similar amount on their behalf towards the scheme. The fixed-rate of 12% is contributed equally by the employer, of which 8.33% is directed towards the employee pension scheme by the employer.
Contact FinacBooks to get connected to a wide network of Chartered Accountants who can help you withdraw provident fund, file Income Tax Returns easily and advice on filing financial documents error-free.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) and Real Estate Agents with more than 10 years of experience in offering accounting, financial, taxation, and real estate-related services to individuals, builders, developers, and business owners. Our wide network of CA’S and Real Estate Agents have operations and serve clients all across India.
Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, license registration, special entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
Listen to this this informative audio to know what is updated in the recently launched Income Tax e-filing portal and learn more about its key features.
The new income tax e-filing portal provides a refreshing feel and has provided a wider bouquet of services under one umbrella. The government has launched the new income tax portal as a part of its digitization journey and with a view to facilitate ease of compliance for taxpayers.
The introduction of chatbot and mobile apps would go a long way in easing compliances and improving the taxpayers’ experience.
What is E-filing?
E-filing is the short form of electronic filing of income taxes. E-filing is when you electronically file your income tax returns online for a particular year. This means you no longer need to visit the nearest Income Tax Department's office to file your returns physically. Instead, you log onto the internet and do the job.
Filing income tax returns is very helpful for certain activities. Be it applying for a loan, travelling overseas or dealing with financial losses, those who file income tax returns find it easy every step of the way.
Contact FinacBooks to connect to a vast network of Chartered Accountants who can help you file Income Tax Returns easily and error-free.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) and Real Estate Agents with more than ten years of experience in offering accounting, financial, taxation, and accurate estate-related services to individuals, builders, developers, and business owners. Our vast network of CA’S and Real Estate Agents has operations and serves clients all across India.
Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, license registration, unique entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
Listen to this informative audio to understand the new process to claim an income tax refund from the tax department. We know that some of the taxpayers didn’t receive their tax refunds and still waiting for the same from the income tax department.
What is Income Tax Refund?
When your tax amount paid is over, and above the actual amount of tax payable, an income tax refund comes into play. You will be eligible for a refund of the tax amount you have paid. You check the status of your refund online, and the process is simple.
So, when can you expect a refund from the Income Tax Department? An income tax refund happens to a taxpayer if he has paid taxes higher than his actual tax liability. When a taxpayer claims a refund in his return of income, the tax department processes such a return. After this, the taxpayer will get a confirmation from CPC of the quantum of refund that the taxpayer is eligible for.
Contact FinacBooks to get connected to a vast network of Chartered Accountants who can help you get your income tax refund on time.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) and Real Estate Agents with more than ten years of experience in offering accounting, financial, taxation, and honest estate-related services to individuals, builders, developers, and business owners. Our vast network of CA’S and Real Estate Agents has operations and serves clients all across India.
Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, license registration, unique entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
At FinacBooks, our experienced and dedicated Chartered accountants help individuals understand the 5 tax changes that affect the common man in the budget 2021. We know that not all the information gets covered in the budget speech, but it did affect the common taxpayer in the long run. In this audio, we will explain the 5 important tax changes and let you know what impact they will make on the lives of the common man. In case of any doubt, you can even consult our experts at Finacbooks.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
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Listen to this audio to learn how to file belated Income Tax Returns (ITR) to the Income Tax Department in India. This audio will provide you with a complete solution so that you can file your belated Income Tax Returns easily and error-free.
In case you’ve not been able to file your income tax return before the prescribed due date, you can still file a belated return of income tax after the due date as well.
Belated Return can be filed at any time before the end of the relevant assessment year or before the completion of the assessment whichever is earlier (applicable from Assessment Year 2017-18 onwards).
Contact FinacBooks to get connected to a wide network of Chartered Accountants who can help you file Income Tax Returns easily and error-free.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) and Real Estate Agents with more than 10 years of experience in offering accounting, financial, taxation and related services to individuals and business owners. Our wide network of CA’S has operations and serve clients all across India.
Our network of chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, licenses registration, special entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Reach us via the below channels:
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
Listen to this informative audio to learn about all the changes to the Goods & Services Tax (GST) rules starting from 1st January 2021. After listening audio you'll know how to deal with the changes to avoid any penalty.
What is GST?
Goods and Services Tax (GST) is an indirect tax (or consumption tax) used on the supply of goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process but is meant to be refunded to all parties in the various stages of production other than the final consumer and as a destination-based tax, it is collected from point of consumption and not point of origin like previous taxes.
Contact FinacBooks to get connected a wide network of Chartered Accountants who can help you file Income Tax Returns easily and error-free.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) and Real Estate Agents with more than 10 years of experience in offering accounting, financial, taxation and real estate-related services to individuals, builders, developers and business owners. Our wide network of CA’S and Real Estate Agents has operations and serve clients all across India.
Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, licenses registration, special entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/
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Listen to this informative podcast to understand the five essential documents required by the taxpayer for ITR filing.
When you start the filing procedure, there are many requirements which you need to fulfil, and the most important are the documents that you need to keep handy while preparing your tax return. In this audio, we will explain the five essential documents necessary for taxpayers while filing their ITR.
What is ITR?
Income Tax Return (ITR) is a form that a person can submit to the Income Tax Department of India. It contains information about the person’s income and the taxes paid on it during the year. Information filed in ITR should pertain to a particular financial year, i.e. starting on 1st April and ending on 31st March next year.
Income can be of various forms such as :
Income from salary
Profits and gains from business and profession
Income from house property
Income from capital gains
Income from other sources such as dividend, interest on deposits, royalty income, winning on lottery, etc.
The Income Tax Department has prescribed seven types of ITR forms - ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6, ITR-7 and the applicability of the form will depend on the nature and amount of income and the type of taxpayer.
Contact FinacBooks to connect to a vast network of Chartered Accountants who can help you file Income Tax Returns easily and error-free.
FinacBooks is India's #1 portal of Chartered Accountants (CA’s) and Real Estate Agents with more than ten years of experience in offering accounting, financial, taxation, and accurate estate-related services to individuals, builders, developers, and business owners. Our vast network of CA’S and Real Estate Agents has operations and serves clients all across India.
Our chartered accountants and tax professionals provide a wide variety of services and are experts in handling registrations, including tax registration, license registration, unique entities registration, etc. They also assist in return filings, compliances, corporate filings, certifications, and intellectual property registrations.
Website: www.finacbooks.com
Email: info@finacbooks.com
Phone Number: +91 8800221252
Social Channels: FB: www.facebook.com/finacbooks
Twitter: www.twitter.com/finacbooks
LinkedIn: www.linkedin.com/company/finacbooks/
Instagram: www.instagram.com/finacbook/