Compliance and Returns
INCOME TAX RETURN
Person Required to File Return:
- Individual /HUF/Proprietary Concern: Earning More than Rs. 2,50,000 Per Annum.
- Company/Partnership Firm/LLP : Mandatory to file Income Tax Return Irrespective of Income
Due Date of Filing Returns:
Individual/HUF /Partnership Firm: 31st July
Individual/HUF /Partnership Firm having Tax Audit : 30th September
Companies: 30th September
Companies having Transfer pricing: 30th November
List of ITR forms:
| ITR | Description |
| ITR 1 (SAHAJ) | For Individuals having income from Salary and Interest |
| ITR 2 | For Individuals and HUFs not having income from Business or Profession |
| ITR 2A | For Individuals and HUFs not having income from Business or Profession and Capital gains and who do not hold foreign Assets |
| ITR 3 | For Individuals and HUFs having being partners in firms and not carrying out Business or Profession under any proprietorship |
| ITR 4 | For Individual and HUFs having income from proprietory business or profession |
| ITR 4S (SUGAM) | For Individual and HUFs having income from Presumptive Basis |
| ITR 5 | For Person other than (i) Individual, (ii) HUF, (iii) Company and (iv) Person filing ITR 7 |
| ITR 6 | For Companies other than Companies claiming exemption under section 11 |
| ITR 7 | For persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D) or section 139(4E) |
Normal Checklist of Documents and Prerequisites:
- Copy of last year’s tax return
- Copy of PAN card and full particulars like address ,Mobile No , Email.
- Bank Statement
- TDS Certificates (if any)
- Saving Certificates/Deduction
- Interest Statements showing interest paid to you in the year
- Balance Sheet, Statement of Profit & Loss and Audit report (If Applicable)
- Any other Document as required
VAT RETURNS:
Every registered dealer has to file VAT returns mandatorily. Payment of tax must be done before filing of returns. E-filing of VAT returns has been allowed in a number of states across India. If you have have no operations in a particular quarter, a NIL return must be filed. Once you are VAT registered dealer, filing is a must irrespective of the business activities.
Due Dates:
Return Filing and Payments:
| Sr. No. | Periodicity | For Dealers whose | Due date of filing return and payment of taxes due with return | Return periods | |
| Tax Liability of Previous Year | Or Refund Claim during previous Year | ||||
| 1 | Monthly | 10 lakh Or more | one crore Or more | 21 days from the end of relevant month. | Each month from April to March |
| 2 | Quarterly | One Lakh or more but less than 10 Lakh | Ten Lakh or more but less than one crore | 21 days from the end of relevant quarter. | Apr to Jun
July to Sept Oct to Dec Jan to Mar |
| 3 | Six monthly | Less than One Lakh | Less than Ten Lakh | 21 days from the end of relevant six monthly period | Apr to Sept
Oct to Mar |
Service Tax Returns:
Service Provider who has obtained service tax registration need to file returns twice a year, regardless of whether turnover of taxable services exceeds Rs. 10 Lakh. Assessee need to file Service tax returns by October 25th (for April to September) and by April 25 (for October to March), even if he don’t have any revenues. All your Service tax dues need to be cleared before this filing. Penalties would be levied if any failure to pay service tax or file service tax returns by the due date
Due Date:
Return Filing:
For half Year Ending
April to September : 25th October
October to March : 25th April
Payment :
Individual, Proprietary, Partnership firm: 6th day of next month of of Quarter ending.
April –Jun : 6th July
July-Sep: 6th Oct
Oct-Nov:6th Dec
Dec –March: 31st March
Companies:
- Monthly payments
- Due date is 6th of Next month
- In case of month of March due date is 31st