Income Tax Return Filing in Gurgaon

Posted by ARS Business on 03:53 with No comments
INCOME                       The word "Income," in its broad sense, is the gain derived from capital, labor, or a combination of the two. It is distinguishable from thecapital itself. Ordinarily, for income tax purposes, the word "income" is not used alone. Income tax consultants in Gurgaon,  MSME Registration Consultants in Gurgaon, Rather it is used within such descriptive terms asgross income, taxable income, and adjusted gross income, all of which are defind elsewhere in this glossary.
Net income range (Individual resident (Age below 60 Yrs.) or any NRI / HUF / AOP / BOI / AJP)
Net income range (For resident senior citizen1)
Net income range (For super senior citizen2)
Net income range (For any other personexcluding companies and co-operative societies)
Income Tax rates3
Up to ₹250,000
Up to ₹300,000
Up to ₹500,000
Up to ₹200,000
NIL
₹250,001–500,000
₹300,001–500,000
-
₹200,001–500,000
10%
₹500,001–1,000,000
₹500,001–1,000,000
₹500,001–1,000,000
₹500,001–1,000,000
20%
Above ₹1,000,000
Above ₹1,000,000
Above ₹1,000,000
Above ₹1,000,000
30%


INCOME TAX

Income tax is an annual tax on income. The Indian Income Tax Act (Section 4) provides that in respect of the total income of the previous year of every person, income tax shall be charged for the corresponding assessment year at the rates laid down by the Finance Act for that assessment year. Section 14 of the Income tax Act further provides that for the purpose of charge of income tax and computation of total income all income shall be classified under the following heads of income:

A. Salaries 
B. Income from house property 
C. Profits and gains of business or profession. 
D. Capital gains 
E. Income from other sources.

The total income from all the above heads of income is calculated in accordance with the provisions of the Act as they stand on the first day of April of any assessment year. In this booklet an attempt is being made to discuss the various provisions relevant to the salaried class of taxpayers as well as pensioners and senior citizens.

The form to be filed with a taxing authority by a taxpayer which details his/her/their income, expenses, exemptions, deductions and calculation of taxes which are chargeable to the taxpayer. As an Individual/Firm/AOA/HUF you are required by law to file your Income Tax Returns, if your total income without allowing deductions (such as Section 80C etc.) exceeds the basic exemption limit.  Audit and Taxation Consultants in Gurgaon, Tax Consultants in Gurgaon. ARS Business Consulting is a firm which files Income Tax Return on client’s behalf. We also provide tax return facility services to our clients. So if you are searching a person who can help you for filling return and who can help you in tax deduction and solve any query related with Income/Tax/Returns you can joint us.  We will help you to solve all obstacle related with income tax return.

Kind regards,
ARS Business team,
09891800670, 01244225457
Sector 14, Gurgaon
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