Category Archives: ITR Filling

What tax deductions are available for Automotive Repair Services during ITR filing?

ITR for Automotive Repair Services When filing your ITR for Automotive Repair Services, there are several tax deductions you can consider. 1. Business Expenses Deduction: You can claim deductions for various business-related expenses incurred in providing automotive repair services. This includes expenses such as tools, equipment, spare parts, and salaries of technicians. These expenses… Read More »

Are there any penalties for Motor & Truck Rental Services if they fail to file their ITR on time?

ITR Penalties for Motor & Truck Rental Yes, there can be penalties for Motor & Truck Rental Services if they fail to file their Income Tax Return (ITR) on time in India. 1. Late Filing Penalty: If Motor & Truck Rental Services fail to file their ITR by the due date, they may incur… Read More »

Are there any penalties for Doctors if they fail to file their ITR on time?

Penalties for Doctors Yes, there are penalties for doctors if they fail to file their ITR on time. The penalties can be significant, so it is important to file your ITR on time. The penalties for late filing of ITR depend on the amount of tax due and the reason for the delay. The… Read More »

What is the penality and due date of tax audit report for School, Colleges, Universities, Professional Schools?

Dedline of Tax Audit Report for School The dedline of tax audit report for school, colleges, universities, and professional schools in India typically falls on September 30th of the assessment year, which is the year following the financial year in which the audit is being conducted. For instance, for the financial year 2022-2023, the… Read More »

What is the applicable income tax return for Tour & Travel Agency?

ITR for Tour & Travel Agency The suitable income tax return form (ITR) for Tour & Travel Agency generally hinges on the legal structure and the precise intricacies of the agency’s financial operations. In many jurisdictions, businesses file their income tax returns using forms that can design for different types of entities. Generally,… Read More »

Are there any specific deductions or allowances available for Tour & Travel Agencies?

Deductions or Allowances for Tour & Travel Agencies Deductions or Allowances for Tour & Travel Agencies can take advantage of specific deductions and allowances aligned with their business activities. However, it’s imperative to recognize that tax regulations exhibit variations across jurisdictions, leading to disparities in these provisions based on local laws. Here are several… Read More »

What records and documents should a Tour & Travel Agency maintain for ITR filing?

ITR Documents for Tour & Travel Agency ITR Documents for Tour & Travel Agency should maintain a comprehensive set of records and documents to facilitate accurate and efficient Income Tax Return (ITR) filing. While specific requirements might vary based on jurisdiction and the agency’s operational intricacies. Here’s a general list of records and documents… Read More »

GST applicable on Tour & Travel Agency, and how does it affect ITR filing?

GST Applicable on Tour & Travel Agency ITR Filing GST is a consumption-based tax levied on the supply of goods and services at each stage of the supply chain. It is applicable to a wide range of industries, including the tour and travel sector. The GST Applicable on Tour & Travel Agency depends on… Read More »

What Require Documents for File ITR as an engineers?

Require Documents for File ITR Here are the Require Documents for File ITR: 1. Form 16: This is provided by your employer and summarizes your salary, deductions, and taxes withheld. It’s crucial for reporting your salary income accurately. 2. Salary Slips: These documents detail your monthly earnings, allowances, and deductions. They help cross-check the information… Read More »

What is the penality and due date of tax audit report for Organizations, Charitable and Social Service?

Penalty Tax-audit The due date and Penalty TaxAudit Reports in India for Organizations, Charitable and Social Service entities are as follows: 1. Due Date: For organizations, charitable trusts, and social service entities, the due date for filing the tax audit report is generally September 30th of the assessment year. This due date may vary… Read More »