Income Tax Returns for Individual / HUF /Proprietor

Starting at Rs. 500 (Excl Taxes)

Every Individual / HUF assessees having a gross total income of more than Rs. 2, 50,000 during the year are compulsorily required to file Income Tax Returns. However, a person may voluntarily file income tax returns to avail various benefits. The due date to file income tax returns for individuals and HUF is 31 st July. It is advisable to file income tax returns within the due date to avoid late filing fees and penalties.

If you want to carry forward your losses it is necessary to file the income tax within the due date. Income tax return for a particular assessment year cannot be filed after the end of the assessment year. It is beneficial to file income tax returns to get a refund of the TDS deducted. There is no separate income tax return for the proprietary business.

MyEfilings provide the most reasonable and competent services for Income Tax Returns of Individual / HUF /Proprietor.

Be It a Visa or Loans, Your IT Returns Are Checked.

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Benefits of filing for IT returns

Bank loans like education loans, vehicle loans, and personal loans, can be easily availed as they require the past three years IT returns.
Heavy amounts would be charged for non-filing of income tax returns, and hence, it is always better to file it to avoid legal repercussions.
As immigration centers scrutinize many documents and IT returns, proofs are a mandatory document for visa applicants.

Process to file Income Tax Returns for individual / HUF /Proprietor

Information Collection

The first step is the collection of all the necessary information you will need to file your ITR.

Tax Computation

After the information is collected, we will compute your total taxable income and tax liability.

Computation Review

We shall send the draft computation for your review.

Return Filing

Congratulations! Your
return is filed.

FAQ'S

The year in which you have earned the total income is the financial year. The year in which income of the previous year is to be assessed is the assessment year.
In India, every entity or person is accountable to pay tax if his/her total income exceeds the income mentioned in the slab rates given by the government.
Tax credits of a taxpayer are maintained by the Income-tax Department in Form 26AS, which is a taxpayer’s combined yearly statement. It contains details like details of earnings on which tax has been deducted, tax deducted by entities on the taxpayers’ behalf, details of deductors etc.
Yes, a PAN is necessary for a person to proceed for ITR filing.
Yes, if your taxable income is more than the slab, irrespective of whether taxes have been paid or not, return filing is compulsory. Only if you file your return, you can claim the advantage of tax credit or get a refund.