LLP ITR filing requirements Limited Liability Partnerships (LLPs) have gained popularity as a flexible and advantageous business structure for entrepreneurs and small businesses. However, like any other business entity, LLPs are subject to certain income tax filing requirements imposed by the tax authorities. Let’s explore this topic to understand the intricacies of LLP ITR… Read More »
ITR filing for freelancers ITR filing for freelancers, Freelancers in India are typically classified as self-employed individuals, and they are required to file their income tax return (ITR) using the appropriate ITR form based on their income and nature of work. Here are some key points to consider for ITR filing for freelancers: Choose the… Read More »
Who needs to file an ITR Individuals and entities that are liable to pay income tax in India are required to file an Income Tax Return. Let’s define Who needs to file an ITR Filing Income Tax Returns is necessary because it’s a legal requirement and it helps to declare income accurately, calculates tax liability,… Read More »
Not required to file ITR Not required to file ITR, certain criteria. Here are some cases where filing an ITR may not be mandatory: Individuals below the Basic Exemption Limit: If your total income during the financial year falls below the basic exemption limit set by the income tax department, you may not be required… Read More »