File Income Tax Return

Receiving an income tax notice can be unsettling, but understanding its purpose and implications can make it manageable. The Income Tax Department issues various notices to taxpayers for specific reasons, ranging from simple clarifications to serious compliance matters. Don’t stress over an income tax notice – resolve it today! This guide provides a systematic overview of the most common types of income tax notices. Notice under Section 143(1): Intimation Purpose: This is an intimation, not a scrutiny notice. It informs the taxpayer of any discrepancies between the filed return and the department’s calculations. Key Points: It may reflect a demand for additional tax, a refund, or simply state that the return is accepted. Immediate action is only required if there is a discrepancy. Notice Under Section 139(9): Defective Return Purpose: Issued when the filed ITR contains errors or omissions that render it defective. Key Points: Common causes include missing infor...

After filing your Income Tax Return (ITR), it is essential to track its status to ensure it has been successfully processed by the Income Tax Department. The online process to check your ITR status is simple, quick, and accessible. Here is a systematic guide to help you monitor the status of your filed return. Don’t wait! File income tax return online in minutes! Why Checking Your ITR Status Is Important Monitoring the status of your ITR helps: Confirm that your return has been received and processed. Identify any discrepancies or errors requiring correction. Track the progress of your tax refund, if applicable. Pre-Requisites for Checking ITR Status Before you begin, ensure you have: Your Permanent Account Number (PAN). The acknowledgment number of your ITR (optional but helpful). Access to your registered email or mobile for verification. Methods to Check ITR Status Online There are two primary ways to check the status of your ITR online: Using the Income...

  When starting a business, one of the most crucial decisions is selecting the appropriate legal structure. Among the popular options are a Private Limited Company (PLC) and a Limited Liability Partnership (LLP). Each structure has its own benefits and limitations, making it essential to understand their key differences before making a choice. Here is a systematic comparison to help you decide which structure suits your business needs. 1. Understanding the Basics Private Limited Company (PLC) A PLC is a corporate entity with a distinct legal identity. It is suitable for businesses aiming for scalability, external funding, and a professional corporate structure. Trusted Experts for Your Company Registration – Begin Today! Limited Liability Partnership (LLP) An LLP is a hybrid structure that combines features of a partnership and a corporation. It offers limited liability protection to its partners while maintaining operational flexibility. 2. Key Differences Between P...