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ITR Filing Services
Income Tax Return Filing Online – Personal
Income Tax Return Filing Process Online starts at ₹ 300. Verify Package
Verify Package
-
Tax preparation services offer professional help to file taxes accurately -
Audit support assists if you are selected for an audit -
Tax consultation services give personalized advice on minimizing taxes -
Year-round support offers assistance with tax planning throughout the year -
Tax filing reminders notify you of important tax deadlines -
Tax compliance reviews ensure you meet all legal requirements
[metform form_id=”13037″]”We protect your data fiercely, ensuring it remains 100% confidential and respected.”
[metform form_id=”14629″]
Have any questions about Income tax return filing process..!
Connect with our experts to initiate your ITR filing process right away @ +91 – 9999999999
Lithucorp’s ITR online e-filing Fees Plan
For years, we have been committed to assisting individuals and businesses with their income tax return filing. If need a specific service not listed here, please contact our helpline for a customized fee quote, ensuring you receive the most competitive pricing available:
ITR Filing – Essential
₹500 – ₹300/Year
-
Single / Additional Form-16 -
Single / Additional House Property -
Agriculture Income -
Other Incomes
Connect today @ 9999999999
ITR Filing – Elite
₹500 – ₹300/Year
-
Freelancer / Professional -
Income Comission / Contract Income -
Carry Forward Losses
Reach out here @ 9999999999
ITR Filing – Premium
₹500 – ₹300/Year
-
Capital gains from various Assets like (shares, Mutual Fund, Real estate and other assests)
Try now @ 9999999999
Tax Consultation
₹500 – ₹300
-
Capital Gains Handling -
Handling IT Notice -
Late IT Filing -
Revised IT Filing -
Reinvestment Options -
Undisclosed Income -
Tax Investigations -
IT Audit
Let’s connect @ 9999999999
Note:
- An 18% GST will apply to the total of the base plan price
- The fee for the balance sheet, profit & loss statement and attestation is an additional charge
- If you have received any arrears and wish to claim relief, an additional fee payable will be applied to the specified plans.
ITR Filing – Essential
₹500 – ₹300/Year
-
Single / Additional Form-16 -
Single / Additional House Property -
Agriculture Income -
Other Incomes
Connect today @ 9999999999
ITR Filing – Elite
₹500 – ₹300/Year
-
Freelancer / Professional -
Income Comission / Contract Income -
Carry Forward Losses
Reach out here @ 9999999999
ITR Filing – Premium
₹500 – ₹300/Year
-
Capital gains from various Assets like (shares, Mutual Fund, Real estate and other assests)
Try now @ 9999999999
Tax Consultation
₹500 – ₹300
-
Capital Gains Handling -
Handling IT Notice -
Late IT Filing -
Revised IT Filing -
Reinvestment Options -
Undisclosed Income -
Tax Investigations -
IT Audit
Let’s connect @ 9999999999
Note:
- An 18% GST will apply to the total of the base plan price
- The fee for the balance sheet, profit & loss statement and attestation is an additional charge
- If you have received any arrears and wish to claim relief, an additional fee payable will be applied to the specified plans.
- Enjoy hassle-free income tax return filing with Lithucorp’s expert team ensuring accuracy and compliance
- Receive personalized support to maximize deductions and reduce stress
- Trust Lithucorp to manage your tax needs, allowing you to focus on growing your business
A Brief Overview – Income Tax Return Filing
Income Tax Return (ITR) filing is the process where individuals and businesses report their yearly income to tax authorities. This important task helps ensure compliance with tax laws and determines how much tax is owed or if a refund is due. There are different types of ITR forms based on the source of income such as salaries, business profits or capital gains.
To file correctly, you need accurate documents including Form 16, bank statements and proof of deductions. Timely ITR filing can facilitate easier access to loan eligibility for government programs and the possibility of receiving tax refunds. Many individuals opt for professional tax filing services to ensure accuracy and maximize deductions. Overall, ITR filing is a crucial part of managing your finances and staying compliant with tax regulations.
Essential DocumentsBenefits/ProsEligibility StandardsAction PlanKey ElementsTypes/ CategoryGSTR Filing processFAQ’S
Essential Documents Required for Income Tax Return Filing in India
When preparing to file your Income Tax Return, it is an essential to have the following documents on hand for a smooth and accurate submission:
-
Permanent Account Number (PAN): Required for all tax-related activities. -
Aadhaar Number: Needed for verification and linking to tax records. -
Bank Account Information: Necessary for processing any refunds. -
Salary Slips: To verify income from job. -
Form 16: Issued by your employer detailing the tax deducted at source. -
Form 26AS: Tax credit statement showing all taxes deposited against your PAN. -
TDS Certificates (Form 16A, 16B, 16C): For TDS on various types of income including property sales and rent. -
Interest Certificates: From banks for savings accounts and fixed deposits. -
Home Loan Statement: If claiming deductions on home loan interest. -
Investment Proofs: Documentation for tax-saving investments like insurance, PPF and mutual funds. -
Rental Income Documentation: Lease agreements and receipts for rental properties. -
Capital Gains Documents: Related to the sale of assets such as stocks or property -
Bank Statements: To verify interest earned and other income sources. -
Life Insurance Receipts: Proof of premiums paid. -
Donation Receipts: For charitable contributions may qualify for deductions. -
Investment Details: Information regarding equity or mutual fund investments.
Advantages/Benefits from On-Time IT Return Filing
Filing your ITR not only fulfills a legal obligation but also provides significant financial benefits and opportunities.
Legal Compliance: Filing ITR ensures that you adhere to tax laws, helping you avoid penalties or legal issues.
Refund Claims: If you have overpaid your taxes, filing your ITR allows you to claim a refund from the tax authorities.
Loan Facilitation: Financial institutions often require ITR as proof of income when you apply for loans or credit, making it easier to secure funding.
Income Verification: ITR serves as an official record of your income, useful for visa applications and accessing government schemes.
Loss Carry Forward: Filing ITR enables you to carry forward business or investment losses to offset future income which can reduce your tax liability.
Tax Planning: Regularly filing your ITR helps you track income and expenses aiding in better financial planning and budgeting.
Avoiding Penalties: Timely filing helps you avoid late fees and penalties imposed by tax authorities.
Access to Government Benefits: Many government programs require proof of income and ITR can be an essential document for eligibility.
Credit worthiness: Consistent ITR filing can enhance your credit profile, making it easier to obtain loans at favorable rates.
Financial Discipline: Regular ITR filing promotes accountability helping you maintain a clear record of your financial activities.
Basic Eligibility Standards for GSTR Filing
Income Threshold: Individuals whose total annual income exceeds the basic exemption limit must file ITR. The limit may vary based on age and type of income (e.g., salary, business)
Age Criteria:
Different exemption limits apply:
Sources of Income:
You must file ITR if you have income from various sources including:
Salary
Tax Deductions and Benefits:
If you wish to claim deductions under sections like 80C (investments), 80D (health insurance) etc., filing ITR is necessary.
Foreign Income:
Individuals earning income from abroad are required to file ITR regardless of the amount.
Investments in Foreign Assets:
If you hold foreign assets or have financial interests in foreign entities filing ITR is mandatory.
Resident Status:
Resident individuals in India must file ITR if their income exceeds the prescribed limit irrespective of their income source.
Partnership Firms and Companies:
All partnership firms and companies, regardless of income are required to file ITR.
Income from Multiple Sources:
If you have income from more than one source (e.g., salary and rental income), you need to file ITR.
Action Plan/Checklist for Income Tax Return Filing
By following this checklist, you can efficiently file your ITR with Lithucorp’s assistance!
PAN (Permanent Account Number)
Aadhar card (if applicable)
Salary slips/Form 16
Income details from other sources (e.g., bank interest)
Investment receipts for deductions (e.g., PPF, ELSS)
Health insurance premium documents
TDS certificates (Form 16/16A)
Form 26AS (tax credit statement)
Summarize income from all sources with Lithucorp’s help
Identify eligible deductions (e.g., under Section 80C, 80D)
Select the appropriate ITR form based on your income sources
Complete the chosen ITR form accurately with our assistance
Double-check all calculations and entries with expert support
E-file your return with Lithucorp’s assistance, ensuring all details are accurately submitted through the Income Tax Department website.
Different Types
of Filing ITR online from ITR-1 to ITR-7
Income tax return (ITR) forms used to report income and taxes with different forms for individuals, businesses and various income types.
- ITR-1: For individuals with income up to ₹50 lakh from salary, one house property, and other sources.
- ITR-2: For individuals and HUF with income above ₹50 lakh or multiple sources excluding business income.
- ITR-3: For individuals and HUF with income from a business or profession.
- ITR-4: For individuals and HUF opting for presumptive taxation with total income up to ₹50 lakh.
- ITR-5: For partnerships and limited liability partnerships (LLP).
- ITR-6:ITR-6: For companies which is not claiming tax exemptions under Section 11.
- ITR-7: For individuals and entities required to file under specific sections like trusts and political parties.
- GSTR-8: E-commerce operators use this form to report the TCS (Tax Collected at Source) on sales made through their platforms.
- GSTR-9: An annual return summarizing all filings for the financial year.
- GSTR-10: The final return submitted upon cancellation of GST registration.
- GSTR-11: For Unique Identity Number holders claiming refunds on purchases.
Steps/process
of Your Income Tax Return Filing Process
This structured approach underscores Lithucorp’s commitment to providing professional, reliable assistance in the ITR filing process.
STEP
01
Reach out to Lithucorp by phone or submit an inquiry through the website
STEP
02
Assist you the right ITR form by our Expert
STEP
03
Submit your documents as directed by our tax expert
STEP
04
ITR Filing Done
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Consultation and Assessment:
We evaluate your financial situation and help you choose the right ITR form for your income type.
Document Collection:
We assist you in gathering all necessary documents such as PAN, Aadhaar, Form 16 and investment proofs.
Form Preparation:
Our team fills out the ITR form accurately making sure all income and deductions are correctly reported.
Tax Calculation:
We calculate your taxable income and identify eligible deductions to minimize your tax liability.
Electronic Filing:
We help you submit your ITR online through the Income Tax Department portal ensuring it is done on time.
E-Verification Guidance:
We guide you through the e-verification process to confirm your return is valid.
Ongoing Support:
After filing, we are here to help with any questions or notices from the tax department.
Record Maintenance:
We assist you in organizing your tax records for easy access in the future.
GST Filing Dates for various types of IT return forms
Here is a concise summary of the different types of Income Tax Return (ITR) forms including their applicability and due dates:
Form ITR-1
Applicable For: Resident individuals with income up to ₹ 50 lakh from salary, one house property and other
sources (like interest).
Due Date: July 31 of the assessment year.
Example: An individual earning ₹ 40 lakh from salary and ₹ 2 lakh from bank interest can use ITR-1.
Form ITR-2
Applicable For: Individuals and Hindu Undivided Families (HUF) without income from business or profession.
Due Date: July 31 of the assessment year.
Example: An individual with ₹ 30 lakh from capital gains and no business income should file ITR-2.
Form ITR-3
Applicable For: Individuals and HUF with income from business or profession.
Due Date: July 31 of the assessment year.
Example: A consultant earning ₹ 25 lakh from business/services and ₹ 10 lakh from salary should use ITR-3.
Form ITR-4
Applicable For: Individuals, HUF and firms (other than LLP) opting for the presumptive taxation scheme.
Due Date: Annually: July 31 of the assessment year.
Example: A freelancer earning ₹ 15 lakh and opting for presumptive income under Section 44AD can file ITR-4.
Form ITR-5
Applicable For: Partnerships, LLPs, Association of Persons and Body of Individuals.
Due Date: July 31 of the assessment year.
Example: A partnership firm with ₹ 50 lakh in total income must file ITR-5.
Form ITR-6
Applicable For: Companies not claiming exemption under Section 11.
Due Date: September 30 of the assessment year.
Example: A private limited company with taxable income of ₹ 1 crore should use ITR-6.
Form ITR-7
Applicable For: Trusts, political parties and charitable institutions.
Due Date: September 30 of the assessment year.
Example: A charitable trust receiving ₹ 20 lakh in donations must file ITR-7.
Penalty for Personal Tax Return Filing
Late Filing Fees (Section 234F):
If you file your income tax return late in India, you will incur a penalty of ₹ 5,000 if filed after the due date but before December 31, a penalty of ₹ 10,000 if filed after December 31 and a reduced penalty of ₹ 1,000 for taxpayers with an income up to ₹ 5 lakh.
Interest on Unpaid Tax:
If you owe tax when filing late, you will incur an interest charge of 1% per month on the unpaid tax amount. This continues until you pay the outstanding tax.
Loss of Benefits:
Late filing may result in the loss of certain benefits such as the ability to carry forward losses (like business losses) to future financial years.
Legal Consequences:
If you repeatedly fail to file your returns, it could attract scrutiny from the Income Tax Department potentially leading to legal action or penalties.
Why Lithucorp is the Preferred Choice for Income Tax Return Filing ..!
Lithucorp is the preferred choice for income tax return filing due to its expert team that ensures accurate and compliant submissions. We offer personalized support, making the process easy and efficient for all clients. With timely filings to avoid penalties and a focus on customer satisfaction. Lithucorp builds strong relationships with clients.
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How does Lithucorp streamline the ITR filing process?
Lithucorp streamlines the income tax return (ITR) filing process through the following methods:
Expert Consultation:
Provides personalized assessments to determine the appropriate ITR form based on individual financial situations.
Document Organization:
Assists clients in gathering and organizing all necessary documents ensures nothing is overlooked.
Accurate Form Preparation:
Fills out the ITR forms accurately reducing the risk of errors and maximizing eligible deductions.
Tax Calculation Services:
Calculates the total taxable income and applicable tax liabilities helping clients understand their tax positions.
Seamless E-Filing:
Facilitates easy electronic submission of returns through the Income Tax Department portal ensures timely filing.
Hear from our clients about the trust and value we bring into their ventures
Nikita Yogesh1 month ago Read More
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Personal Income Tax Returns Filing FAQ’s
What is an Income Tax Return (ITR)?
An income tax return (ITR) is a form submitted to the Income Tax Department to report your income expenses and taxes owed.
In India, who is required to file an income tax return?
Individuals with taxable income exceeding the basic exemption limit those claiming refunds or those with specific financial transactions are required to file an ITR.
What are the many types of ITR forms available?
Common ITR forms include ITR-1, ITR-2, ITR-3 and ITR-4 each designed for different income types and taxpayer categories.
What documents are necessary to prepare an income tax return?
Essential documents include your PAN, Aadhaar, Form 16, bank statements, investment proofs and any other relevant income documents.
What is the income tax filing deadline in India?
The typical due date for individual taxpayers to file their ITR is July 31 of the assessment year.
Can I file my income tax return online?
Yes, you can easily file your income tax return online through the Income Tax Department e-filing portal.
What happens if income taxes are not filed on time?
Late filing can result in penalties, interest on unpaid tax and loss of benefits such as the ability to carry forward losses.
How can I correct mistakes in my filed income tax return?
You can file a revised income tax return within the specified time frame if you discover any errors in your original submission.
What is e-verification of income tax returns, and why is it important?
E-verification is the process of confirming your filed return online which is necessary to complete your filing and avoid penalties.
How do I check the status of my filed income tax return?
You can check your income tax return status by logging into your account on the Income Tax Department e-filing portal.
What benefits come with filing income tax returns?
Filing your income tax return provides benefits such as eligibility for loans, refunds on excess taxes paid and the ability to carry forward losses for future tax benefits.
Can I submit my income tax return after the due date?
Yes, you can file your income tax return after the due date, but you may incur penalties and interest on unpaid tax.
What is the difference between ITR-1 and ITR-2?
ITR-1 is for individuals with income up to ₹ 50 lakh from salary, one house property and other sources while ITR-2 is for individuals with income above ₹ 50 lakh or multiple sources of income excluding business income.
How can I claim deductions while filing my income tax return?
You can claim deductions under various sections of the Income Tax Act such as Section 80C (investments in PPF, ELSS) Section 80D (health insurance) and others to reduce your taxable income.
If I haven’t received my income tax refund, what should I do?
If you haven’t received your income tax refund, check the status on the Income Tax Department portal and ensure that your bank account details are correct.
Is linking Aadhaar and PAN required in order to file an ITR?
Yes, it is mandatory to link your Aadhaar number with your PAN to file your income tax return as per the latest regulations.
What is the penalty for not filing income tax returns?
Not filing your income tax return can result in penalties ranging from ₹ 5,000 to ₹ 10,000 depending on when you file along with potential legal consequences.
What if I miss the deadline for filing a revised return?
If you miss the deadline for filing a revised return, you can only carry forward certain losses and may face challenges in correcting any mistakes in your original return.
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