Income Tax Filling

Confidently file an ITR for any form of income
Stocks, cryptocurrency, and more platform
Calculate nothing; we'll complete the pre-filling in a 100% secure and correct manner.

Only three easy actions are required to file your ITR.
Prepare the data.
View Your Information
submit the ITR

Who is eligible to submit income tax returns with Estabizz Fintech?

Regardless of your income source, we have you covered. We do have a strategy for everyone.

Salaried Income Tax Filling - Filling out a tax form for a salary, whether it comes from a single source of income or many. Just email the information to incometax@estabizz.com or upload Form 16.

Self Employed Income Tax Filling - For the purpose of filing an income tax return, freelancers and other professionals such as physicians, engineers, photographers, and consultants may communicate data by mail. Returns are processed in a maximum of two hours.

With the help of Tax Experts on Live, file your income tax return. Use Section 80C and any appropriate provisions to claim your tax advantages. Rental revenue, PF withdrawals, and bank deposits
60 minutes of expert-assisted LIVE filing
using MS Teams, Skype, Google Meet, and Zoom
With one or more Form 16s, please.
Business Person Income Tax Filling - SME. Users of MSME, Tally, ERP, Zoho, or other software where books of accounts are recorded may exchange the information and have the return filled out. They will also get extra guidance about tax saving programmes and other ratio calculations for the purpose of financing.

We assist in providing you with all of the answers to your inquiries about the section on investments and capital gains.

NRI Income Tax Return Filling - We assist in providing you with all of the answers to your inquiries about the section on investments and capital gains.

For Taxpayers with Capital Gain through Investment in Stocks, Mutual Funds, Cryptocurrencies, F&O, Derivatives, etc., Stock, Mutual Fund and Crypto or Foreign Income Tax Filling/ return. Crypto traders and cryptocurrency investors that trade in NFTs and DeFI transactions may share the data and unwind knowing that there are additional advantages waiting for you when you file and reap the rewards. Similar to those who have assets outside of India or who have earned foreign income, you may contact us for a thorough explanation before filling out the return.

Capital gains earned through crypto investing - No limit transactions maximum, including intraday, leveraged, derivative, arbitrage, etc., trading activity.

Have capital gains through the sale of property, shares or mutual funds, or do you need to apply for Section 89 tax relief? Gains from shares and mutual funds

earnings from the sale of property
lottery winnings and awards
Gains from ownership in cryptocurrencies
Gains in capital (including day-to-day and leverage)
Gains in capital (including trading in derivatives)
dividends and interest from cryptocurrencies
F&O or intraday trading profit/loss
Account summary, P&L, and balance sheet preparation
includes capital gains, other income, and salary
Rental Income - If you have rental income from one or more properties, including residential and commercial properties, or both, you may contact us by mail or phone to submit your income tax return.

Tax-Filing Guide

The due date for filing income tax returns, considered a tedious annual ritual by many, for the financial year 2022-23 is just a few days away – July 31, 2023. From getting all the documents in order to choosing the right return forms, to navigating the e-filing portal introduced last year, avoiding pitfalls and finally calculating as well as paying your dues, we have covered every detail needed to make the process smooth. Here is our detailed coverage on filing income tax returns for assessment year 2023-24 (financial year 2022-23).

Steps to follow for e-Filing of ITR

e-Filing of ITR

The user can file the Income Tax Return (ITR) in two ways:

Offline

Download the applicable ITR, fill the form offline, save the generated XML file and then upload it.

To e-File the ITR using the upload XML method, the user must download either of the following ITR utility:
Excel Utility
Java Utility
Perform the following steps to download the Java Utility or Excel Utility, then to generate and Upload the XML
Go to the Income Tax e-Filing portal https://www.incometax.gov.in/iec/foportal/

Download the Appropriate ITR utility under ;'Downloads > IT Return Preparation Software'.

Extract the downloaded utility ZIP file and Open the Utility from the extracted folder. (For more information and prerequisites, refer the 'Read me' document).

Fill the applicable and mandatory fields of the ITR form.

Validate all the tabs of the ITR form and Calculate the Tax.

Generate and Save the XML.

Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click 'Login'.

Click on the 'e-File' menu and click 'Income Tax Return' link.

On Income Tax Return Page:
PAN will be auto-populated
Select 'Assessment Year'
Select 'ITR form Number'
Select 'Filing Type' as 'Original/Revised Return'
Select 'Submission Mode' as 'Upload XML

Step.10 Choose any one of the following option to verify the Income Tax Return:

Digital Signature Certificate (DSC).

Aadhaar OTP.

EVC using Prevalidated Bank Account Details.

EVC using Prevalidated Demat Account Details.

Already generated EVC through My Account Generate EVC Option or Bank ATM. Validity of such EVC is 72 hours from the time of generation.

I would like to e-Verify later. Please remind me.

I don’t want to e-verify this Income Tax Return and would like to send signed ITR-V through normal or speed post to "Centralized Processing Center, Income Tax Department, Bengaluru – 560500"
Step.11 Click 'Continue'

Step.12 Attach the ITR XML file. On choosing,

Step.13 DSC as verification option, Attach the signature file generated from DSC management utility.

Step.14 Aadhaar OTP as verification option, Enter the Aadhaar OTP received in the mobile number registered with UIDAI.

Step 15 EVC through Bank account, Demat account or Bank ATM as verification option, Enter the EVC received in the mobile number registered with Bank or Demat Account respectively.

Step 16. Other two verification options, the ITR will be submitted but the process of filing the ITRs is not complete until it is verified. The submitted ITR should be e-Verified later by using 'My Account > e-Verify Return' option or the signed ITR-V should be sent to CPC, Bengaluru.

Step.17 Submit the ITR.

Step. 18 To view the uploaded ITRs

Online:

Enter the relevant data directly online at e-filing portal and submit it. Taxpayer can file ITR 1 and ITR 4 online.

Go to the Income Tax e-Filing portal,https://www.incometax.gov.in/iec/foportal/

Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click 'Login'.

Click on the 'e-File' menu and click 'Income Tax Return' link.
On Income Tax Return Page:
PAN will be auto-populated
Select 'Assessment Year'
Select 'ITR Form Number'
Select 'Filing Type' as 'Original/Revised Return'
Select 'Submission Mode' as 'Prepare and Submit Online'
Click on 'Continue'
Read the Instructions carefully and Fill all the applicable and mandatory fields of the Online ITR Form.
Note : To avoid loss of data/rework due session time out, Click on ‘Save Draft’ button periodically to save the entered ITR details as a draft. The saved draft will be available for 30 days from the date of saving or till the date of filing the return or till there is no change in the XML schema of the notified ITR (Whichever is earlier).

Choose the appropriate Verification option in the 'Taxes Paid and Verification' tab. Choose any one of the following option to verify the Income Tax Return:
I would like to e-Verify

I would like to e-Verify later within 120 days from date of filing.

I don't want to e-Verify and would like to send signed ITR-V through normal or speed post to "Centralized Processing Center, Income Tax Department, Bengaluru - 560 500" within 120 days from date of filing.

Click on 'Preview and Submit' button, Verify all the data entered in the ITR.

'Submit' the ITR.

On Choosing 'I would like to e-Verify' option, e-Verification can be done through any of the following methods by entering the EVC/OTP when asked for.
EVC generated through bank ATM or Generate EVC option under My Account
Aadhaar OTP
Prevalidated Bank Account
Prevalidated Demat Account
Note On Choosing the other two verification options, the ITR will be submitted but the process of filing the ITRs is not complete until it is verified. The submitted ITR should be e-Verified later by using 'My Account > e-Verify Return' option or the signed ITR-V should be sent to CPC, Bengaluru.

The EVC/OTP should be entered within 60 seconds else, the Income Tax Return (ITR) will be auto-submitted. The submitted ITR should be verified later by using 'My Account > e-Verify Return' option or by sending signed ITR-V to CPC.

To view the uploaded ITRs

Important Points

File an ITR: Before submitting your income tax return, be aware of the differences between Form 26AS and AIS.

AIS vs. Form 26AS: Prior to the implementation of AIS, the taxpayer's Form 26AS included the majority of the information. Among other things, AIS displays information on TDS/TCS transactions and real estate purchases made throughout the fiscal year.

Tax evaders who make false contributions are sent alerts by the income-tax department using AI.

After identifying distorted donation-income ratios for FY19 using artificial intelligence, the department is reevaluating returns.

Simply Save | Missing advance tax payment information in ITR forms makes life more difficult for taxpayers

The pre-filled income tax return (ITR) forms are lacking information on advance tax payments. Therefore, in order to submit their taxes, taxpayers must manually input this data. An accomplished personal finance

Should you still submit an ITR if you have no taxable income? Recognise these five advantages.

The largest benefit, according to tax experts, is that ITR reporting supports future credit applications. Most lenders want evidence of the last three years' tax returns before granting any loan, including those for a house, a vehicle, etc.

Common pitfalls to avoid when preparing an income tax return for FY 2022–2023

Two months remain before the July 31 due date for submitting income tax returns, so begin the process as soon as you get access to your Form 16 to prevent making mistakes at the last minute.

FAQ

What is income tax return (ITR) e-filing?

All individuals, with the exception of elderly people, must electronically submit their income tax returns (often referred to as "e-filing") through the internet.

A document that must be submitted to the Income Tax Department is an income tax return. It includes details on a person's earnings and taxes paid during the fiscal year, which runs from 1 April to 31 March. According to the amount of income, the source of the revenue, and the category to which the taxpayer belongs, the Income Tax Department has established seven ITR forms.

The income tax return may be electronically filed using Clear's e-filing tool in a quick and easy process. Since Clear is a platform that the government has licenced to handle e-filing of returns, 100% authenticity and security are maintained.

My employer collects TDS. Is my ITR still need to be filed?

It is true that claiming TDS and submitting a tax return are two different legal requirements. According to the terms of the Income Tax Act, income tax must be paid on your taxable income. As opposed to this, you submit a tax return to demonstrate that you have paid all applicable taxes. When applying for a loan or visa, the income tax return is a very helpful document.

What tax return should I choose for electronic filing?

For various taxpayer categories, the government has announced seven forms: ITR 1, 2, 3, 4, 5, 6, and 7. Individuals and HUFs are covered under ITR-1 through ITR-4. Depending on the income generated and the source of the revenue, they may choose the appropriate ITR form. ITR-5 is applicable to partnership businesses, limited liability partnerships, AOPs, BoIs, artificial judicial persons (AJPs), estates of the dead and the insolvent, business trusts, and investment funds.

Every business should submit an ITR-6. Companies claiming exemption from revenue from property held for charity or religious purposes are excluded from its application. Such businesses should submit an ITR-7.

How can I make a government tax payment?

On the Income Tax Department website, you may submit a direct tax payment using challan 280 and your net-banking account or debit card. The following payment methods are available for lower taxes:

Tax in advance: (100) ahead of tax

Self-employment tax: 300 Personal Assessment Tax

Regular evaluation: (400) Regular Assessment Tax Tax

I get a salary, thus I don't have a Form 16. How should my tax return be filed?

Without a Form 16, you may still use ClearTax to submit your tax return. All you'll need are your paystubs. For e-filing without Form 16, adhere to the directions in this manual.

Describe ITR-V

After electronically submitting your income tax return and while e-verification is still underway, you will get an ITR-V, a one-page document. Your income tax return may be verified offline or online. Online verification may be done in many different ways. However, you have 120 days from the day you filed your tax return electronically to print, sign, and mail the ITR-V to the Income Tax Department in order to have your return offline verified.

How will I get my money back if I overpaid taxes?

By submitting your income-tax return, you may request a reimbursement of the extra tax you paid. You will get a refund by having it credited to your bank account through an ECS transfer. Before submitting your income tax return, it is crucial to pre-validate the information related to your bank account.

Is submitting my ITR electronically required of me, or may someone else do it on my behalf?

You might ask chartered accountants and organisations focused on ITR filing for assistance. In order to avoid any kind of fraud, it is best to keep your PAN and password private. Additionally, CA is always available to help you submit IT returns.

Why should I submit my tax return electronically?

If your income exceeds the basic exemption level, you must file your income tax returns electronically. If the following criteria are satisfied, you must file an ITR even if your income is below the basic exemption limit:
Having more than Rs. 1 crore deposited across all of your current accounts
If your international trip expenses totaled Rs. 2 lakh or more
If your total power costs were Rs. 1 lakh or more
If you have signing power or beneficial interests abroad
if your company's annual revenue exceeds Rs. 60 lakh
If your annual gross professional income exceeds Rs. 10 lakh
if you have more than Rs. 50 lakh in savings bank deposits overall
If the combined TDS and TCS total is Rs. 25,000 or more (Rs. 50,000 or higher for senior people),

Even if a person is not legally compelled to submit an ITR in accordance with the Income Tax Act, it is generally desirable to do so. This is so that the ITR report may be used as evidence of income for a variety of things, including loan approval, VISA and credit card applications, claiming income tax refunds, setting off and carrying forward losses, etc.

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