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- Expert Consultation | Karr Tax
Get the best tax consultation services in India from an advisory team with expertise in tax law, compliance, and planning tax with many taxation essentials. বিশেষজ্ঞের পরামর্শ কোন সহায়তা এবং বিশেষজ্ঞ পরামর্শ প্রয়োজন দাম মাত্র Rs 299 আয়কর, টিডিএস এবং জিএসটি জটিল বিষয় এবং বেশিরভাগ ক্ষেত্রে বিশেষজ্ঞের পরামর্শ প্রয়োজন। এটি অনেক সময় ঘটতে পারে যে করদাতা কোনও নির্দিষ্ট বিষয়ে বিভ্রান্ত হয়ে পড়ে এবং সঠিক সিদ্ধান্ত নিতে অসুবিধা হয়। আয়কর ক্ষেত্রে বিশেষজ্ঞের পরামর্শ আয়ের উত্স সম্পর্কে কোন প্রশ্ন থেকে পাওয়া ছাড়, প্রাপ্তি ছাড়, কর বাঁচাতে বিনিয়োগের সঠিক পদ্ধতি বেছে নেওয়া, আয়করের গণনা, মূলধন আয়কর, অগ্রিম কর, সুদ ইত্যাদির মধ্যে রয়েছে consultation জিএসটি ক্ষেত্রে বিশেষজ্ঞের পরামর্শ নিবন্ধকরণের প্রয়োজনীয়তা, নিবন্ধকরণ প্রক্রিয়া, ইনপুট ট্যাক্স creditণের প্রাপ্যতা, রচনা ব্যবসায়ীদের বিকল্প চয়ন করা, সুদ এবং দেরী ফি সংক্রান্ত সমস্যা এবং আরও অনেক কিছু হতে পারে। اور আমাদের https://onlineindiataxfilings.net এ সরাসরি এবং অপ্রত্যক্ষ ট্যাক্স ক্ষেত্রে বিস্তৃত অভিজ্ঞতাযুক্ত চার্টার্ড অ্যাকাউন্ট্যান্টস সহ বিশেষজ্ঞদের একটি দল রয়েছে যা আপনাকে সিদ্ধান্ত গ্রহণের সময় নির্ভর করতে পারে এমন সবচেয়ে নির্ভুল পরামর্শ প্রদান করবে with اور اور প্রক্রিয়া 1. আপনার জিজ্ঞাসা জমা দিন 2. অর্থ প্রদান করুন 3. একটি কল সিডুল! ৪. এটা হয়ে গেছে !!!!! What does Tax Consultant Do? Seeking tax consultation online has become a convenient way for individuals and businesses to access expert advice on income tax matters. Various platforms offer income tax consultation services provided by tax experts in India. Engaging with an online tax consultant ensures access to professional guidance and expertise in navigating complex tax regulations. These consultants specialize in consultancy for income tax calculation , offering tailored advice based on individual or business-specific tax situations. Find Income Tax Consultant Online Finding a tax expert or advisor online enables individuals to access free tax advice on specific tax-related queries or concerns. This avenue proves valuable in addressing tax-related queries promptly and efficiently. Additionally, individuals often search for a tax consultant or advisor near them, seeking localized assistance and face-to-face consultations for their tax matters. Whether seeking advice online or nearby, engaging with a tax expert ensures access to comprehensive guidance and accurate information regarding income tax implications and calculations. প্রক্রিয়া 1. আপনার প্রশ্ন জমা দিন 2. পেমেন্ট করুন 3. একটি কল সময়সূচী! 4. এটা সম্পন্ন !!!!! আপনার প্রশ্ন এখানে পোস্ট করুন জমা দিন
- Know about Online India Tax Filings
Online India Tax filings is created with a vision to be market leader in tax filing solution provider in India with best and affordable services. আমাদের সম্পর্কে Made in India, Built for India Read the Story Journey আমাদের পরিষেবা সম্পর্কে অনলাইনইন্ডিয়াটাএক্সফিলিংস.এনএফ একটি অনলাইন ট্যাক্স ফাইলিং পোর্টাল যা প্রত্যক্ষভাবে সম্পূর্ণ অনলাইন এবং প্রত্যক্ষ ও অপ্রত্যক্ষ ট্যাক্স ফাইলিংয়ের ক্ষেত্রে সর্বোত্তম সমাধান প্রদানের দৃষ্টি দিয়ে তৈরি করা হয়েছিল। প্ল্যাটফর্মটি একে অপরকে সাশ্রয়ী মূল্যের ফাইলিং সরবরাহ করার জন্য তৈরি করা হয়েছে যা কোনও ঝামেলা মুক্ত, অনলাইন এবং আপনার বাড়ি বা কর্মস্থল থেকে সরাসরি কোনও অফিস প্রাঙ্গনে না গিয়ে শারীরিকভাবে দেখার জন্য online প্রত্যক্ষ ও পরোক্ষ ট্যাক্স ফাইলিং এবং পরামর্শের ক্ষেত্রে আমাদের বিশেষজ্ঞ চার্টার্ড অ্যাকাউন্ট্যান্টদের একটি বিশ বছর ধরে অভিজ্ঞতা রয়েছে। আমাদের একটি উত্সর্গীকৃত সমর্থন দলও রয়েছে যা আপনাকে ই-ফাইলিং প্রক্রিয়াতে প্রতিটি পর্যায়ে সহায়তা করবে। বর্তমানে আমরা প্রত্যক্ষ ও অপ্রত্যক্ষ ট্যাক্স ফাইলিংয়ের ক্ষেত্রে যেমন আয়কর রিটার্ন ফাইলিং, আইটি নোটিশ হ্যান্ডলিং, সংশোধন অনুরোধ ফাইলিং, টিডিএস রিটার্ন ফাইলিং এবং জিএসটিতে সম্পূর্ণ সমাধানের জন্য রেজিস্ট্রেশন এবং রিটার্ন ফাইলিংয়ের সম্পূর্ণ পরিসেবা সরবরাহ করি। এছাড়াও আমরা সাশ্রয়ী মূল্যের বিনিময়ে প্রত্যক্ষ ও অপ্রত্যক্ষ করের ক্ষেত্রে বিশেষজ্ঞের পরামর্শ প্রদান করি। আমাদের দৃষ্টি সাফল্য পৌঁছেছে মধ্যে প্রত্যক্ষ এবং অপ্রত্যক্ষ ট্যাক্স ফাইলিংয়ের ক্ষেত্রে সহজ, বিস্তৃত এবং ব্যয়বহুল পরিষেবা প্রদানের মাধ্যমে আমরা এই ক্ষেত্রে বৃহত্তম এবং নিবেদিত সেবা প্রদানকারী হওয়ার লক্ষ্য রাখি। প্রান্ত প্রযুক্তিগত উদ্ভাবন এবং গ্রাহককেন্দ্রিক সমাধানের মাধ্যমে আমরা আশা করি আগামী বছরগুলিতে আমাদের কাজটি সম্পন্ন হবে। আমরা শীঘ্রই এই ক্ষেত্রগুলির সাথে সম্পর্কিত আরও এবং আরও পরিষেবা যুক্ত করব যাতে গ্রাহক প্রত্যক্ষ ও পরোক্ষ ট্যাক্স সম্পর্কিত প্রতিটি সমাধান এক জায়গায় এবং সাশ্রয়ী মূল্যে পেতে পারেন। প্রত্যক্ষ ও অপ্রত্যক্ষ করের ক্ষেত্রে বর্তমান প্রযুক্তিগত অগ্রগতির সাথে সমস্ত রিটার্ন ফাইলিং, মূল্যায়ন ইত্যাদি অনলাইনে এবং মুখহীন হয়ে উঠছে, এমন একটি প্ল্যাটফর্মের আরও বেশি বেশি প্রয়োজন রয়েছে যা উন্নত প্রযুক্তিগত উদ্ভাবনের প্রয়োজনগুলিতে পরিষেবা সরবরাহ করতে পারে এবং নিবেদিত গ্রাহক সমর্থন। কর সম্পর্কিত বিষয়গুলি পরিচালনা করার traditionalতিহ্যগত উপায়টি চলে গেছে এবং এখন একই প্রযুক্তিটি উচ্চ প্রযুক্তি চালিত পরিষেবা এবং প্রয়োজনগুলির দ্বারা প্রতিস্থাপিত হয়েছে। আমরা আগামী বছরগুলিতে আমাদের নিবেদিত সমর্থন এবং উদ্ভাবনী প্রযুক্তি চালিত পরিষেবাদি দ্বারা সেগুলি পূরণ করার লক্ষ্য নিয়েছি aim About: Mission আমাদের লক্ষ্য ক্লায়েন্টদের সুখ আমাদের লক্ষ্য অনলাইন ইন্ডিয়া ট্যাক্স ফাইলিংগুলিতে, আমরা বিশ্বাস করতে পারি যে কর প্রস্তুতিমূলক পরিষেবাগুলি সরবরাহ করতে আমরা বিশ্বাস করি। আমাদের ক্লায়েন্টদের সুখ এবং সন্তুষ্টি আমাদের এক নম্বর অগ্রাধিকার। আমাদের হিসাবরক্ষকদের দলটি তাদের সেবা নিষ্ঠা, শ্রেষ্ঠত্ব এবং পেশাদারিত্বের সাথে সম্পা দন করতে প্রতিশ্রুতিবদ্ধ। এই দর্শন আমাদের প্রতিটি মূল্যবান ক্লায়েন্টকে পরিবেশন করার জন্য আমাদের দৃষ্টিভঙ্গিকে আন্ডারলাইন করে। Team of Professional & Trusted Income Tax Consultants in India At Karr Tax, we are your trusted tax consultant in India, providing top-notch taxation services. Our dedicated team of tax experts is committed to simplifying your financial journey. About: Mission About Karr Tax With our online tax filing consultancy, we make income tax return filing in India a breeze. Count on us for all your taxation needs. One of our online tax filing consultant is available 24 hours for your service.
- Get Your 80G Registration Done with KarrTax: Tax Deductions Made Easy
Learn how 80G registration can help your NGO gain valuable tax benefits. Get started on your fundraising journey now! ট্রাস্ট / সোসাইটি / এনজিও 80 জি পুনর্নবীকরণ / আয়করের আওতায় নিবন্ধনের জন্য আবেদন করুন স্ট্যান্ডার্ড ট্রাস্ট / সোসাইটি / সেকশন 8 কোম্পানির 80 জি রেজিস্ট্রেশন / আয়কর আয়ের আওতায় অনলাইনে আবেদন করুন Rs.1999 এখনই শুরু কর ইনকাম ট্যাক্সের আওতায় ট্রাস্ট / সোসাইটিগুলির জন্য নবায়ন / নিবন্ধন U / s 80G 2021 সালের 1 লা এপ্রিল থেকে কার্যকর সর্বশেষ সংশোধনী What is 80G Registration? ট্রাস্ট, সমিতি বা অধ্যায় 8 সংস্থাগুলি দাতব্য বা ধর্মীয় কাজ করে এবং প্রায়শই সাধারণ মেয়াদে এনজিও বা এনপিও নামে অভিহিত হয়। অর্থাত্ তারা অলাভজনক বা বেসরকারী সংস্থাগুলি কোনও লাভের উদ্দেশ্য ছাড়াই সাধারণ মানুষের কল্যাণে কাজ করে। اور ভারত একটি বিস্তৃত দেশ, যার সংখ্যাগরিষ্ঠ জনগোষ্ঠী দারিদ্র্য, নিরক্ষরতা এবং স্বল্প-উন্নয়নতে ভুগছে। দরিদ্রদের জন্য ত্রাণ, পরিবেশ সংরক্ষণ, শিক্ষা, চিকিত্সা বা সাধারণ জনগণের উপযোগের যে কোনও বিষয়ে ভারতে প্রচুর সংখ্যক এনজিও / এনপিও কাজ করছে। اور এই এনজিওগুলি সাধারণত নিবন্ধিত হয়: (1) ট্রাস্ট (২) সমিতি বা (৩) কোম্পানি আইনের আওতাধীন ৮ ধারা company اور এই এনজিওগুলিকে অনুদান প্রদানকারী যে কোনও ব্যক্তি তার আয়কর এর 80 / u আয় থেকে কর কেটে নেওয়ার অধিকারী হবে তবে শর্ত থাকে যে প্রতিষ্ঠান / ট্রাস্ট ইত্যাদি আয়কর আইনের UGS 80G নিবন্ধিত রয়েছে। اور এখানে আমরা ইনকাম ট্যাক্সের u / s 80G এর এনজিওগুলিতে নিবন্ধকরণ / নবায়নকরণের নতুন বিধান সম্পর্কে সমস্ত আলোচনা করব এবং কীভাবে আবেদন করতে হবে সে সম্পর্কেও আপনাকে গাইড করব। اور প্রথমে আমরা এই এনজিওগুলির নবায়ন / নিবন্ধন u / s 80G সম্পর্কিত পরিবর্তন কি হিসাবে আয়কর আইনটি দেখুন। اور উল্লেখযোগ্য পরিবর্তনগুলি নিম্নরূপ: اور ১. ২০২১ সালের ১ লা এপ্রিল সংশোধনীর আগে, যে সকল এনজিও ইতিমধ্যে আয়করের 80/80 গ্রাহক নিবন্ধিত ছিল তাদের রেজিস্ট্রেশন দেওয়া হয়েছিল যা আয়কর সময়ের জন্য কার্যকর ছিল এবং যতক্ষণ না আয়কর কর্তৃপক্ষ কর্তৃক এটি বাতিল না করা হয় ততক্ষণ পর্যন্ত তারা ছিল পুনরায় নিবন্ধন করার প্রয়োজন নেই। اور ২. ২০২১ সালের ১ লা এপ্রিল থেকে, ধারা 80G (5) এ সংশোধনী চালু করা হয়েছে যাতে এই এনজিওগুলির নিবন্ধন / নিবন্ধন / নবায়ন আনুষ্ঠানিকতায় সম্পূর্ণ পরিবর্তন রয়েছে। এইগুলো : اور (ক) আয়কর আইনের ইউএসএস জি ইতিমধ্যে নিবন্ধিত প্রতিটি ট্রাস্ট / সোসাইটি / সেকশন ৮ সংস্থাকে ৮ এপ্রিল ২০২১ থেকে ৩০ শে জুন ২০২১ অবধি months মাসের মধ্যে ৮০ জি নিবন্ধন / নবায়নের জন্য পুনরায় আবেদন করতে হবে । اور (খ) যে কোনও নতুন এনজিও যিনি এর আগে নিবন্ধভুক্ত হয়নি এবং নতুনভাবে আবেদন করতে চায় সে কেবলমাত্র অস্থায়ী নিবন্ধন অনুমোদিত হবে এবং তাও 3 বছরের জন্য এবং নিবন্ধনের জন্য বা তার কার্যক্রম শুরুর পরে তিন বছরের পরে পুনরায় আবেদন করতে হবে যেটাই আগে. اور (গ) প্রদত্ত নিবন্ধনটি কেবলমাত্র তিন বছরের জন্য হবে এবং মেয়াদ শেষ হওয়ার পরে এটি আবার ৩ বছরের জন্য পুনর্নবীকরণ করতে হবে। اور (ঘ) নিবন্ধন নবীনকরণের জন্য আবেদনপত্রগুলি ৮০ বছর বয়সে অর্থাৎ তিন বছরের মেয়াদ শেষে মেয়াদ শেষে months মাসের আগে আবেদন করতে হবে। اور (ঙ) এনজিওর u / s 80G নিবন্ধনের আদেশটি মাসের শেষের থেকে 3 মাসের মধ্যে পাস করা হবে যেখানে সংস্থার আগেই সংশোধনীর আগে নিবন্ধিত এনজিওদের ক্ষেত্রে আবেদন করা হয়েছে। অন্যান্য ক্ষেত্রে, আদেশ পাসের সময়সীমা 6 মাস হবে। এনজিওগুলি 3 বছর পরে আবারও আবেদন করে বা এনজিওগুলিকে অস্থায়ী নিবন্ধকরণ মঞ্জুর করা হলে, প্রিন্সিপাল কমিশনার প্রাসঙ্গিক কমিশনার সমস্ত প্রাসঙ্গিক তথ্য এবং নথিপত্রের জন্য অনুরোধ করবেন যাতে এনজিওটি খাঁটি এবং কার্যক্রমটি যথাযথভাবে পরিচালিত হচ্ছে তা সন্তুষ্ট করতে পারে। কেবল সন্তুষ্ট হওয়ার পরে, নিবন্ধন 80 / গিগল পুনর্নবীকরণ করা হবে। অসন্তুষ্টি হলে আবেদনটি বাতিল হতে পারে। আবেদন প্রত্যাখ্যান করার আগে, শোনা যাওয়ার উপযুক্ত সুযোগটি এনজিওগুলিকে সরবরাহ করতে হবে। اور এখন আমরা বেসরকারী সংস্থাগুলির নিবন্ধকরণের পদ্ধতি সম্পর্কে যে বিধি তৈরি করা হচ্ছে তা লক্ষ্য করি। এই ক্ষেত্রে, নিয়ম 11AA সন্নিবেশ করা হয়েছে যা এনজিওগুলির 80G / u র নিবন্ধনের জন্য নিম্নলিখিত পদ্ধতি সরবরাহ করে। اور এতে বলা হয়েছে: اور ১. যে কোনও এনজিও / ট্রাস্ট / সোসাইটি / সেকশন ৮ কোম্পানী যিনি ইতিমধ্যে আমাদের এপ্রিল, ২০২১ এর আগে ৮০ জি নিবন্ধিত হয়েছে বা নতুন নতুন এনজিওগুলি আবেদন করছে তাদের ফর্ম নং ১০ এ এ নিবন্ধনের জন্য আবেদন করতে হবে। اور ২) উপরের বিভাগে না আসা অন্য যে কোনও এনজিওর ফর্ম নং ১০ এএবিতে আবেদন করতে হবে। اور ৩. ফর্ম 10 এ বা 10 এবি-তে আবেদনটি নিম্নলিখিত নথিগুলির সাথে সংযুক্ত করার জন্য করা হবে: اور (ক) ট্রাস্ট ডিড বা ইনস্ট্রুমেন্ট যার মাধ্যমে এনজিও তৈরি করা হয়েছে - স্বতঃ প্রত্যয়িত (খ) ট্রাস্ট / সোসাইটি / বিভাগ ৮ কোম্পানির নিবন্ধকরণ শংসাপত্র - স্ব স্বীকৃত (গ) এফসিআরএর নিবন্ধকরণ শংসাপত্রের অনুলিপি - স্বীকৃত (যদি এনজিও সেই আইনের অধীনে নিবন্ধিত থাকে) (d) আয়কর 80G এর অধীনে নিবন্ধকরণ শংসাপত্রের অনুলিপি - স্বতঃ প্রত্যয়িত (ঙ) এনজিওগুলির বার্ষিক হিসাবের অনুলিপি যদি সে বছরের আগে বিদ্যমান থাকে যেখানে নিবন্ধকরণের জন্য আবেদন করা হয়েছে (3 বছর পর্যন্ত) - ইতিমধ্যে নিবন্ধিত এনজিওগুলির ক্ষেত্রে একই প্রয়োজন নেই (চ) অবজেক্টগুলির ক্ষেত্রে পরিবর্তন বা সংশোধন করা হয়েছে, একইরূপে একটি দলিল (ছ) কার্যক্রম সম্পর্কিত নোটসমূহ on اور ৪. ফর্ম নং ১০ এ বা ১০ এবি আয়কর ওয়েবসাইটে (www.incometaxindiaefiling.gov.in ) লগ ইন করে অনলাইনে সজ্জিত করা হবে এবং ই-যাচাই বা ডিজিটালি স্বাক্ষরিত হতে হবে। اور Benefits of 80G Registration 80G registration offers several benefits for both charitable organizations and donors. Here are the detailed pointers justifying this statement. Benefits for Charitable Organizations: 80G registration increases the credibility and trustworthiness of a charitable organization. It generates a sense of trust between potential donors that their contributions will be used for genuine charitable purposes. Charitable trusts with 80G registration receive tax-exempt donations. Charities can expand their reach and impact with 80G Registration as they receive greater attention and support from the media and the public. Having 80G Registration opens doors to potential collaborations and funding from government sources. 80G registration requires proper record-keeping and financial transparency. This fosters good governance practices within the organization, which helps them to build trust with donors and stakeholders. Benefits for Donors: Donors can claim deductions on the amount they donate to organizations with 80G registration. As a result, this encourages more people and businesses to contribute to the organization's causes. Businesses that are donating to organizations with 80G registration can help fulfill their CSR obligations as mandated by the Companies Act, 2013. Donors can easily claim deductions by providing proof of their donations, such as donation receipts issued by the registered charitable organization. Required Documents For 80G Registration The following documents are required for 80G registration. The organization's Permanent Account Number (PAN) card copy is required to establish its identity for taxation purposes. According to the legal structure, documents outlining the organization's objectives, governance structure, and rules are mandatory. These documents comprise a copy of the trust deed, memorandum of association (MoA), and articles of association. For the last three to five years, copies of audited financial statements, including balance sheets, income statements, and audit reports are required. A detailed description of the charitable activities undertaken by the organization is needed, along with evidence of how funds have been utilized for the same. This may include project reports, receipts, and invoices. To prove legal existence, the organization should include a copy of its registration certificate under the relevant law, such as the Indian Trusts Act, Societies Registration Act, or Companies Act. Documents or declarations demonstrating the organization's non-profit motive should be submitted. In case the organization receives foreign contributions, a copy of its registration under the Foreign Contribution Regulation Act (FCRA) should be included. (if applicable) Mandatory Requirement of Darpan ID for 80G Registration Charitable organizations seeking registration or revalidation are now required to provide details of their registration number with the Darpan portal of Niti Aayog. This significant requirement has emerged in recent years and must be followed. Key Pointers: The Darpan portal is administered by the Niti Aayog (National Institution for Transforming India). It is a central platform for registering and monitoring NGOs and voluntary organizations across India. This mandatory requirement of providing a Darpan ID is aimed at enhancing transparency in the operations of charitable organizations. Darpan ID serves as a means of cross-verification to confirm the legitimacy and compliance of these organizations. By linking Section 80G registration to the Darpan portal, the government can take measures to prevent the misuse of tax benefits. Eligibility For 80G Registration Not all charitable organizations or trusts are eligible for 80G registration. To qualify, an organization must meet the below criteria. The organization seeking 80G registration should be legally established and registered under one of the following structures: A trust that has been authorized by the Indian Trusts Act of 1882. A society registered under the Societies Registration Act, 1860, or any relevant state-level society registration act. A Section 8 Company under the Companies Act, 2013, or its predecessor, Section 25 Company under the Companies Act, 1956. The organization must have a genuine non-profit motive. Its primary purpose should be charitable or for the public good. If any trust is found doing activities to generate profits for its members or stakeholders will get disqualified from 80G registration. The organization's objectives must align with the definitions and purposes specified under Section 80G of the Income Tax Act . This typically includes activities related to: Education, Medical relief, Poverty alleviation, Advancement of religion, and Other charitable causes. Charitable organizations registered under Section 80G can not participate in political activities or promote political agendas. To obtain 80G registration, the organization must apply to the Commissioner of Income Tax (Exemptions) or the appropriate authority. Below are the necessary required documents: Details of the organization's objectives, Financial statements, Audited reports, and Proof of its charitable activities. The organization must comply with all relevant charitable activity laws and regulations. This includes following the provisions of the Income Tax Act, FCRA (Foreign Contribution Regulation Act), and other relevant laws. 80G Registration Procedure The 80G Registration process at KarrTax includes several steps to provide our clients with the best services possible. Step 1. Initial Assessment/ Consultation Our tax experts start the 80G process with an initial consultation with your organization. We will discuss your organization's unique charitable activities, legal structure, and objectives. This assessment helps us gauge your eligibility for 80G registration and allows us to customize our services to your specific needs. Step 2. Documentation Once eligibility is confirmed, we guide you through the document collection process. Here, our team will view and compile all the required documents and information (as discussed above) before starting the application process. Step 3. Filling Application Form In this step, our team prepares the 80G registration application. We ensure that all required information is accurately included in the application form. Step 4. Submission and Follow-up We will submit the completed application form with all supporting documents to the Income Tax Commissioner (Exemptions) or the appropriate authority in your jurisdiction. Further, our tax experts follow up with the authorities to track the progress of your application, ensuring that it receives the attention it deserves. Step 5. 80G Registration Certificate Issuance Upon successful verification and approval of your application, you'll receive the coveted 80G registration certificate. This 80G certificate confirms your eligibility for tax-deductible donations and attracts potential donors seeking tax benefits. It is important to remember that the specific requirements and procedures for 80G registration may evolve. So, staying updated with the latest guidelines and regulations from the Income Tax Department is always suggested. You can also seek Karr Tax professional guidance for the most accurate and current information. Validity of 80G Registration In India, charitable organizations enjoy certain tax exemptions and benefits under Sections 12A/12AA and 80G of the Income Tax Act 1961. However, these organizations had to undertake a crucial revalidation process for their registrations before a specified deadline. Revalidation Requirement: Under the Finance Act 2020, significant changes were introduced, mandating existing charitable institutions registered under Sections 12A/12AA and/or 80G to reapply for approval/registration. The primary objective was to assess the authenticity of charitable activities conducted by these entities. New Procedure For 80G Registration (w.e.f 1st April 2021) Under Section 12AB, a new registration procedure has been introduced, which came into effect on April 1, 2021. This change was implemented through Notification No. 19/2021, dated March 26, 2021, issued by the Central Board of Direct Taxes (CBDT). The Notification mandates that all trusts, societies, and institutions previously registered under Section 80G must now obtain fresh registration. Form 10A has been introduced to facilitate this new registration process, starting from the AY 2022-2023. Form 10A provides the guidelines and procedures for organizations seeking registration with the income-tax authorities to avail of the exemptions under Sections 11 and 12. To summarize, The amendment in the registration process, as per Section 12AB and Notification No. 19/2021, requires entities previously registered under Section 80G to obtain new registration. This ensures compliance with the conditions and procedures necessary to avail of the tax exemptions provided by Sections 11 and 12 of the Income Tax Act. Form 10A is the prescribed form for this purpose, and these changes have been in effect since the AY 2022-2023. Below is a table summarizing the new exemption approval process with all the relevant details! Frequently Asked Questions (FAQs) What is an 80G certificate? The Income Tax Department in India issues an 80G certificate that allows donors to claim tax deductions on donations made to eligible charitable organizations. It encourages individuals and organizations to contribute to charitable causes. 2. Who is eligible to apply for 80G registration? Charitable organizations, including trusts, NGOs, and section 8 companies, engaged in specific eligible activities are eligible for 80G registration. 3. What are the benefits of obtaining an 80G certification for a charitable organization? Obtaining an 80G registration allows the charitable organization to offer donors the benefit of tax deductions under Section 80G, which can encourage more donations and support for their causes. 4. Do all charitable organizations have 80G certificates? No, not all charitable organizations have 80G certificates. Only organizations that meet certain criteria and have been approved by the Income Tax Department are eligible for this certificate. 5. How long does it take to get 80G registration approval? The time taken for 80G registration approval can vary. It typically takes several months for the Income Tax Department to review the application and conduct necessary inspections. 6. Is 80G registration permanent, or does it require renewal? 80G registration is not permanent and usually comes with a validity period. That’s why organizations must renew their registration periodically to continue offering tax benefits to donors. 7. Can an organization with 12A registration automatically obtain 80G registration? No, having 12A registration does not automatically grant an organization 80G registration. You must apply separately for 80G registration. 8. Can an organization receive foreign donations with 80G registration? An organization with 80G registration can receive foreign donations but must also register under the Foreign Contribution (Regulation) Act (FCRA) to receive such donations legally. NGOs can enjoy tax benefits by obtaining 80G registration, allowing donors to claim income tax exemptions on their contributions under Section 80G. This registration can be applied for online, and there's also a renewal application form to extend the validity of your 80G certificate. The 80G certificate is crucial for NGOs as it signifies their eligibility for tax benefits. To verify 80G registration, check with the appropriate authorities. The application process for 80G registration requires specific documents, and it's important for societies and trusts in India to secure this registration for financial support and credibility. ফর্ম 10 এ প্রশ্ন জিজ্ঞাসা করুন আপনি কি আইটি বিভাগের সাথে আপনার এনজিওর 80G / নিবন্ধন / পুনর্নবীকরণ / পুনরায় নিবন্ধকরণ খুঁজছেন - এখানে ক্লিক করুন
- TAN Registration | Karr Tax
Learn the process of TAN registration to get a Tax Deduction and Collection Account Number for smooth tax deduction and collection procedures. ট্যান [কর ছাড়ের অ্যাকাউন্ট নম্বর] নিবন্ধন ₹399 Apply for TAN online Takes 1-2 Days on average. ✅ Expert Assisted ✅ Completely Secure ✅ Affordable Pricing Get Started ট্যান কী? ট্যাক্স ছাড় বা সংগ্রহের অ্যাকাউন্ট নম্বর টিএন নামেও পরিচিত যা আয়কর আইনের 203A ট্যাক্স কাটা বা সংগ্রহের জন্য দায়ী সমস্ত ব্যক্তির দ্বারা প্রাপ্ত একটি নম্বর। اور টিএন হ'ল একটি 10 সংখ্যার আলফানামুরিক সংখ্যা যা ফর্ম 49 বি তে আবেদন করার পরে আয়কর বিভাগ দ্বারা সরবরাহ করা হয়। اور কীভাবে ট্যান প্রয়োগ করা যেতে পারে? اور ট্যানের আবেদনগুলি অনলাইনে www.tin-nsdl.com এ জমা দেওয়া যেতে পারে বা এনএসডিএলের টিন সুবিধাকেন্দ্র কেন্দ্রে [টিআইএন এফসি] ফিজিকাল ফর্মও জমা দেওয়া যেতে পারে। اور اور টিডিএস রিটার্ন বা চালান দাখিলের জন্য কি ট্যান বাধ্যতামূলক? اور ফর্ম 24Q, 26Q, 27Q, 27EQ ইত্যাদি বিভিন্ন টিডিএস রিটার্ন দাখিলের সময় টিএনকে উদ্ধৃতি করা বাধ্যতামূলক is اور এছাড়াও, টিএন নম্বর ছাড়া টিডিএস পেমেন্ট করা যাবে না। চালান দেওয়ার জন্য চলনটিতে টিএএন থাকা উচিত। اور ট্যান আবেদন করার জন্য প্রয়োজনীয় কাগজপত্রগুলি কী কী? اور বর্তমানে, টিএন আবেদনের সাথে কোনও নথি সংযুক্ত করার দরকার নেই। নাম, ঠিকানা, প্যান, মোবাইল এবং ই-মেইল আইডি ইত্যাদির মতো আবেদনকারীর ব্যক্তিগত বিবরণ কেবল প্রয়োজন। ফর্মটি আবেদনকারীকে শারীরিকভাবে স্বাক্ষর করতে হবে। অনলাইনে আবেদনের ক্ষেত্রেও অনলাইনে ফর্ম পূরণের পরে এবং অর্থ প্রদানের পরে, মুদ্রিত ফর্মটি শারীরিকভাবে স্বাক্ষর করতে হবে এবং পুনেতে টিআইএন কেন্দ্রে জমা দিতে হবে। এটি ডাক বা কুরিয়ারের মাধ্যমে পাঠানো যেতে পারে। اور সাধারণত কত দিন ট্যান বরাদ্দ করা হয়? অ্যাপ্লিকেশনটি সম্পূর্ণ হলে, টিএন সাধারণত আবেদন জমা দেওয়ার 10 দিনের মধ্যে বরাদ্দ দেওয়া হয়। ট্যান আবেদনের স্থিতি www.tin-nsdl.com এও পরীক্ষা করা যায়। ট্যান জমা দেওয়ার জন্য কি ফি আছে? اور সরকার ট্যান আবেদনের জন্য ফি .6.6 / - টাকা। তবে, আপনি যদি আমাদের পরিষেবাগুলি উপভোগ করতে চান তবে আমাদের চার্জ হবে ৩৯৯ / - টাকা। ট্যানের বিবরণগুলি সংশোধন করা যায়? হ্যাঁ একটি ট্যান সংশোধন ফর্মও রয়েছে যা টিএএন-তে বিবরণ পরিবর্তন করতে দায়ের করা যেতে পারে (যদি কিছু ত্রুটি থাকে যা সংশোধন করতে হয়) اور TAN Registration TAN is required for quoting while filing TDS/TCS/Annual Information Returns, payment challans, and certificates. If this ten-digit alphanumeric number is not quoted, TIN facilitation centers will not accept the filed returns. In this article, we will explain, How to know the TAN number TAN registration process at TRACES and Income Tax. How To Know the TAN Number? TAN number is issued by the Income Tax Department of India to all individuals collecting or deducting tax. It is necessary to quote TAN on all TDS or TCS returns under section 203A of the Income Tax Act, 1961. Below is a step-by-step guide on how you can know your TAN number! Prerequisites: Registered mobile number Deductor TAN or Deductor Name Deductor State Visit the official Income Tax website , and under quick links, click on the “Know Your TAN” option. 2. Then, the below screen will appear, where you are required to enter all the mandatory details. After mentioning all the details, click on “Continue”. 3. Finally, an OTP will be sent to your mobile number which you are required to enter and click on the “validate” button. 4. Once the OTP validation is completed, all the TAN details will be shown. Step-by-Step Guide on Registering TAN on the TRACES Portal Open the official TRACES portal and click on the “Continue” button. 2. On the title bar, click on deductor, and then “Register as New user.” 3. The below screen will appear; here, you have to enter TAN details as per details from "Know Your Tan." Then, click on “Proceed.” 4. After the successful confirmation, an activation link will be sent to your mail along with two different activation codes to the registered mail id and mobile number. 5. Open the activation link and enter the User ID + both Activation Codes. 6. Click on the activation link within 48 hours; otherwise, it will get deactivated, and you’ll be required to register again. Finally, the TAN registration process is completed, and deductors can now log in through their user ID and password generated. Step-by-Step Guide on Registering TAN on The Income Tax Portal Prerequisites For TAN Registration Active and valid TAN PAN of the principal contact (registered on the IT portal) Visit the official income tax e-filing portal and click on “Register.” 2. After clicking "Register," you'll be prompted to select your category. Choose "Others" from the options provided. Then, under the category dropdown menu, select "Tax Deductor and Collector." 3. Enter your TAN number in the designated field and click on the "Validate" button. 4. Depending on your TAN's status, you'll encounter different situations: Situation I) If your TAN is already registered on the TRACES website and a request for registration on the e-filing portal is made, simply click on "Continue" to view the pre-filled details. Double-check all the details and click on ‘Continue’. Situation II) If your TAN is not registered on TRACES and the request for registration on the e-filing portal has not been made, you must register on TRACES first (as explained above). Upon successful registration, you'll be directed back to the e-filing portal. Fill in your basic details and click on "Continue." Situation III) If the TAN is already available in the database and the registration request is previously raised and pending for approval. In such a situation, an error message will appear, and you can withdraw the process. 5. Enter all details of the individual collecting tax or making payments, and click Continue. 6. Fill in all the contact details, such as postal address, registered mobile number, and email ID. Click on "Continue" to proceed. 7. Now, two different OTPs will be sent to both the primary mobile number and email ID. Enter both of them and click “Continue.” 8. Review all the details. If any corrections are necessary, you can edit them in this step. Then click ‘Confirm.’ 9. Finally, you'll need to set a password for your e-filing account. Enter in both the "Set Password" and "Confirm Password" text boxes. Upon successful registration, you'll receive a confirmation message along with a transaction ID. Make sure to keep a note of this transaction ID for future reference. How Can KarrTax Help You With TAN Registration? At KarrTax, our experts will get our TAN registration done smoothly and without any headaches. Most importantly, we want to keep it affordable for businesses of all sizes; that’s why we charge a bare minimum amount, i.e., ₹399. On average, the process completion will take 1 to 2 business days. With KarrTax, you can be sure your TAN registration is done right. So, what are you waiting for? Get started here . Frequently Asked Questions (FAQs) 1.What is TRACES, and who is eligible to register on this platform? TRACES is the Income Tax Department’s web portal, particularly used for TDS administration. The following entities can register on this platform. Deductor Taxpayer PAO 2.What are the charges for your TAN registration process? Our TAN registration process charges are ₹399. Click here to start the procedure. 3.What is the purpose of TAN registration? TAN registration facilitates the deduction or collection of tax at source as per the provisions of the Income Tax Act. It helps in identifying deductors/collectors, tracking tax-related transactions, and ensuring compliance with tax laws. 4.How long does it take to get a TAN after applying? The processing time for TAN registration can vary. Usually, it takes 7-10 working days for TAN allotment by NSDL. However, the timeline may vary according to several factors, such as processing time, etc. 5.Is it mandatory to quote TAN on tax-related documents? Yes, it is mandatory to quote TAN on all tax-related documents, including TDS/TCS returns, challans, and certificates issued to deductees/collectees. Failure to do so may attract penalties under the tax laws. 6.What documents are required for TAN registration? Below are the required documents for TAN registration. Aadhar card PAN card Electricity bill of the individual or company Registration certificates 7.Is it possible to track the status of my TAN application? Absolutely, yes! Use your 14-digit unique acknowledgement number and send an SMS - NSDLTAN to 57575 or contact the TAN call centre at 020 – 27218080. ফর্ম 49 বি
- TDS Services | Online TDS Return Filing | Karr Tax
Simplify TDS Returns with our easy guide. File online effortlessly and understand the process. Ensure accurate TDS Return filing. Learn more now. TDS Services: Services Filing Your TDS Returns Online: It's Easier Than You Think ফর্ম 24Q For Salaried Deductors এবার শুরু করা যাক ফর্ম 26Q For TDS on deductions other than_cc781905-5cde-3194 -bb3b-136bad5cf58d_ বেতন এবার শুরু করা যাক ফর্ম 26QB স্থাবর সম্পত্তির বিক্রয়ের জন্য TDS এবার শুরু করা যাক ফর্ম 27Q অনাবাসীদের পেমেন্টের উপর টিডিএস এবার শুরু করা যাক ফর্ম 27EQ TCS এর জন্য ফর্ম 27EQ এবার শুরু করা যাক TDS Services - Return & Refund Navigating the world of tax can be a real maze, especially when it comes to dealing with the intricacies of TDS returns. But fear not, for we're here to simplify it all for you. In this friendly guide, we'll walk you through the steps of filing your TDS returns online, making it a breeze to manage your taxes and keep your financial house in order. So, if you're ready to simplify TDS returns and gain a sense of control over your financial affairs, let's get started on this journey together! What's TDS Return All About? Before we jump into the technical elements of online filing, let's clear up what a TDS return is. It's basically a report card for your taxes. This document summarizes all the tax amounts you deducted when making payments to others. Every three months, you need to share this information with the Income Tax Department. In everyday language, it's like a tax report card, summarizing all your tax transactions and how much tax you've gathered. It provides the tax authorities with a clear picture of your tax responsibilities. How to File TDS Return Online Now that you know what a TDS return is, let's get down to the practical stuff. Here's what you'll need and how to file your TDS return online: What You Need to Get Started PAN cards of all the parties involved (that's you, the person paying, and the person receiving). Information about the tax payments you made to the government. Any additional documents requested by the tax authorities. The Step-by-Step Process Step 1: Head to the Income Tax Department's website at http://incometax.gov.in/. Step 2: Log in using your TAN (Tax Deduction and Collection Account Number) details. Step 3: Go to 'e-File,' choose 'Income Tax Forms,' and click 'File Income Tax Forms' on the dashboard. Step 4: Choose the correct form for your situation. Step 5: Click 'Upload TDS Form' and hit 'Let’s Get Started.' Step 6: Fill in the required information and click 'Proceed to e-Verify.' Step 7: Enter the OTP sent to your mobile for verification, and you're all set! Once you complete these steps, you'll receive a confirmation message for a job well done. If you're not using a Digital Signature Certificate (DSC), don't worry. You can still validate your TDS statements using the Electronic Verification Code (EVC). What You Need Before Filing Before hitting the 'File' button, there are a few essential things to check off your list: A valid TAN for e-filing – you can't proceed without it. Return Preparation Utility (RPU) for preparing your TDS statement. File Validation Utility (FVU) to validate your TDS statement. If you prefer using a Digital Signature Certificate (DSC) for authentication, make sure it's valid. Link your bank or Demat account to your PAN for Electronic Verification via EVC. Ensure you've paid the total TDS amount before filing your TDS returns. Who Needs to File TDS Returns? Not everyone needs to hop on the TDS returns train. It's mostly for the folks who make payments in specific categories, including: Employers paying salaries. Earnings from games, races, or lotteries. Dealing with securities (the financial kind, not the secret agent gadgets). Earning insurance commissions. Buying or selling property. Paying rent. Investing in schemes like National Savings. Budget 2023: What's Changing in Taxes Get ready for some updates in the Budget 2023 that might affect your finances: Section 194BA - Now, if you're making money from online gaming, brace yourself for TDS deductions. Section 196A - Starting April 1, 2023, if you're a non-resident earning from mutual funds in India, you can show your Tax Residency Certificate to enjoy the TDS rate as per your tax treaty, instead of the flat 20%. Section 192A - Good news for those without a PAN! The TDS rate on PF withdrawals has dropped to 20% from the maximum marginal rate. Section 193 - No more TDS exemption for interest from listed debentures. You'll have to deal with TDS on your interest income from these specific securities. Section 194N - Big change here! From April 1, 2023, co-operative societies will only face TDS on cash withdrawals exceeding Rs 3 crore, up from the previous Rs 1 crore limit. TDS Rates Chart for Resident Indians TDS rates chart for income tax on select categories for the financial year 2023-2024 are listed below. These rates are applicable for resident Indians. Different TDS Forms TDS (Tax Deducted at Source) forms come in various types, each designed for specific purposes depending on the nature of the payment. Remember, no matter which TDS form you use, don't forget to include a digital signature on Form 27A. What You Need To Know About Penalties If you're late in filing your TDS return or make mistakes, there are consequences to be aware of: Penalties under Section 234E Missing the filing deadline will result in a late filing fee of Rs. 200 per day. The fee keeps adding up until you finally file your return, but it won't exceed your TDS amount. So, while it's a penalty, it won't break the bank. Penalties under Section 271H If you make errors in your return, like incorrect PAN or tax amount, you might face a penalty ranging from Rs. 10,000 to Rs. 1 lakh. The Final Word In a nutshell, TDS returns are like the nuts and bolts that keep the tax system working smoothly. While they might seem a bit tricky, filing them online can be a breeze if you follow the steps we've laid out. Don't let the paperwork scare you – it's a simple process that helps you stay on top of your taxes and financial future. And for those looking for an even smoother experience, services like Karrtax.in offer expert assistance in filing all TDS returns, from Form 24Q , form 26Q , form 26QB , form 27Q to form 27EQ , making the process even more convenient. So, whether you prefer the DIY route or expert guidance , keeping your TDS returns in order has never been easier. TDS সম্পর্কে আরও জানতে চান? টিডিএস শিক্ষা কেন্দ্র
- ITR - 3 Filing Online | Check Applicability | Karr Tax
Learn everything about the ITR-3 form. Its eligibility, components, and guidelines for smooth tax compliance. ITR - 3: Price List আইটিআর 3 ফিলিংস A.YR.2021-22 ₹2499 For Business/Profession including F&O and Speculation Profits* Takes 1-2 Days on average. ✅ Expert Assisted ✅ Completely Secure ✅ Affordable Pricing Get Started *Audit (if applicable) Charges not included. ITR - 3: FAQ সমস্ত আইটিআর সম্পর্কে 3 এ.আই.আর.2020-21 Finally, the income tax return filing season is back for A.Y. 2025-26. Are you an individual taxpayer or HUF member with a proprietorship or business? If yes, then you have to file ITR-3. Here, we’ll explain about ITR-3 form, eligibility, steps and structure! Let’s begin! What is the ITR-3 Form? ITR-3 is an income tax return form that is filed by individual entities and Hindu Undivided Families or HUFs who earn from the following income sources: Salary Pension House property Capital gains Business or profession Other sources Who Is Eligible to File the ITR-3 Form? The below entities are eligible to file the ITR-3 form. Individual entities or Hindu Undivided Families (HUFs) with income from a sole proprietorship business or profession. For taxpayers earning from more than one house property. Used by individuals with income generated from assets situated outside India. Non-Resident Individual Income from short or long-term capital gains, such as selling investments like stocks. Individual earning income under the head “profits or gains from profession or business” and not eligible to file ITR-1, ITR-2 or ITR-4. Who is not eligible to file the ITR-3 Form? ITR-3 Form is exclusively for individuals and Hindu Undivided Families (HUFs); other entities cannot use this form. Individuals and HUFs who do not earn or receive income from their own business, profession, or partnership firm. Major Changes in ITR-3 form for AY 2025-26 The below changes are incorporated in the ITR-3 form. Introduction of Schedule VDA to separately report income from virtual digital assets (VDAs) such as cryptocurrency. This schedule requires a quarterly breakup of VDA transactions, including purchase and sale dates, if treated as capital gains. Requirement for foreign institutional investors (FII/FPI) to disclose their SEBI registration number for additional transparency. Introduction of a new section, 'Trading Account', to report turnover and income from intraday trading. Addition of questions to determine if taxpayers opted out of the New Tax Regime in previous years. Minor adjustment in balance sheet reporting details: Advances received from entities specified in Sec 40A(2)(b) and others must be reported or shown under the 'Advances' heading in "Source of Funds." Structure of the ITR-3 Form ITR-3 Form follows the below structure. PART-A PART A - GENERAL This part requires general information such as Name, Address, PAN, Aadhar, Mobile, email Id Status, details of New or old tax regime, whether the return is being filed as per the seventh proviso to Section 139(1), details of residential status, details of Directorship in any company and details of Equity shareholding in Unlisted Companies. If you are liable for an Audit, it requires information about the Audit, the date of the Audit Report etc. The details of the nature of the Business along with the Code and name of the proprietorship, description, etc. are also required. PART A - MANUFACTURING ACCOUNT Details of the manufacturing account for the whole financial year PART A - TRADING ACCOUNT Trading account details PART A - PROFIT AND LOSS ACCOUNT Profit and loss account details PART A - BALANCE SHEET This Part is divided into three sub-parts : (1) If Regular Books of Accounts are maintained : In that case, Complete details of the Balance Sheet, Manufacturing Account, Trading Account and Profit and Loss Account has to be filled up. Separate Schedules are there for each one of them. (2) If declaring income under Presumptive Taxation Schemes : In this case, the details as per Section 44AD , 44ADA , and 44AE (as applicable) are to be filled up. (3) No Account case: If you are not liable to maintain books of accounts, the details as required in point no. 64 and 65 of the ITR have to be filled up. PART A - 0I OTHER INFORMATION This schedule is mandatory for persons liable to audit. For others, it can be filled up if applicable. The major parts covered in this schedule relates to disallowances from business or professional income. PART A - QD QUANTITATIVE DETAILS Again this part is mandatory for persons who are liable to Tax audits. It requires quantitative details of Trading Accounts i.e. opening stock, purchases, sales and closing stock. SCHEDULES TO THE RETURN FORM [TO BE FILLED AS APPLICABLE] SCHEDULE S- DETAILS OF INCOME FROM SALARY In this Schedule, the name and address of the employer with TAN and the nature of Employment are also required along with all the details of Salary and other allowances and perquisites received. SCHEDULE HP - DETAILS OF INCOME FROM HOUSE PROPERTY In this Schedule, the Address of the property along with names and Pan of the co-owners are required to be filled. Also, the details of the tenant such as name, and PAN are required. Complete details of Rent received, annual rent along with all the deductions claimed from rental income has to be entered. You can add multiple house property details here. SCHEDULE BP - COMPUTATION OF INCOME FROM BUSINESS OR PROFESSION This Schedule requires details of income from business or profession. It is divided into four parts : 1. Details of Income from normal business or profession 2. Details of Income from Speculative business 3. Details of Income from Specified business u/s 35AD 4. Inter-head set off of losses under head Business SCHEDULE - DPM DEPRECIATION ON PLANT AND MACHINERY Complete Details of depreciation on Plant and Machinery have to be provided under this Schedule SCHEDULE DOA - DEPRECIATION ON OTHER ASSETS Complete details of depreciation on all the Fixed Assets other than Plant and Machinery such as Land, Building, Furniture & Fixtures, Intangible Assets, and Ships has to be provided under this Schedule. SCHEDULE DEP - SUMMARY OF DEPRECIATION ON ASSETS Under this Schedule, a Summary of Depreciation provided under each head of Assets has to be provided. SCHEDULE DCG - DEEMED CAPITAL GAIN ON SALE OF DEPRECIABLE ASSETS Here, the deemed capital gain on the sale of depreciable assets has to be entered. SCHEDULE ESR - EXPENDITURE ON SCIENTIFIC RESEARCH [Deduction u/s 35 or 35CCC or 35CCD] The complete details of Expenditure claimed u/s 35 have to be provided here. SCHEDULE CG - CAPITAL GAINS This is a long schedule that is divided into Short Term & Long-Term Capital Gains. Full & complete details of each and every item have to be provided including all deductions claimed from such gains. Also, there is a separate Schedule of Section 112A wherein share-wise details have to be entered for taking benefits of the grandfathering clause as on 31st Jan.2018. Also, the set-off of short-term and long-term capital gains details are to be entered. The bifurcation of Short Term & Long term capital gains quarter wise also needs to be entered so that the interest liability u/s 234C can be correctly analyzed and calculated. From A.Yr.2023-24, Schedule VDA - Income from transfer of Virtual Digital Assets has been newly added for reporting transactions relating to virtual digital assets. SCHEDULE OS - INCOME FROM OTHER SOURCES In this Schedule, each and every detail relating to Income from Other Sources have to be entered. Also, the deductions claimed from other source income are to be entered in detail. Here also bifurcation of income from Dividends and winnings from the lottery, puzzles, games etc. has to be provided quarters for calculation of interest u/s 234C. SCHEDULE CYLA - DETAILS OF INCOME AFTER SETOFF OF CURRENT YEAR LOSSES Under this Schedule, the current year's losses under head House Property, Business loss and other sources are allowed to be adjusted from the Current year's income of Salaries, House Property, Busines Income, Capital Gain, and other sources as per the provisions of Income Tax. SCHEDULE BFLA - DETAILS OF INCOME AFTER SET OFF OF BROUGHT FORWARD LOSSES OF EARLIER YEARS Under this Schedule, the brought forward losses of earlier years are allowed to be set off against current year's remaining income as per the provisions of the Act. SCHEDULE CFL - CARRIED FORWARD LOSSES This Schedule requires the details of the last 8 years brought forward losses and adjustment of same against the current year's income and the losses which remained and carried forward for future adjustments. SCHEDULE - UD UNABSORBED DEPRECIATION AND ALLOWANCE U/S 35(4) This schedule required the details of unabsorbed deprecation losses and allowances u/s 35(4) adjusted during the year and carried forward. SCHEDULE ICDS - EFFECT OF INCOME COMPUTATION DISCLOSURE STANDARDS ON PROFIT Here, the effect of all total 10 ICDS on the net profit has to be disclosed and detailed. SCHEDULE 10AA - DEDUCTION UNDER SECTION 10AA The Deductions in respect of units located in the Special Economic Zone have to be provided under this schedule. SCHEDULE 80G - DETAILS OF DONATIONS UNDER SECTION 80G This schedule required complete details in respect of donations given under Section 80G both entitled to 100% and 50% deductions including name, address, pan of the organization along with mode of payment etc. SCHEDULE 80GGA - DETAILS OF DONATIONS FOR SCIENTIFIC RESEARCH OR RURAL DEVELOPMENT The details of donations made for Scientific Research or rural development in case of a partner of the firm deriving only profit from the firm has to be filled in here. SCHEDULE RA - DETAILS OF DONATIONS TO RESEARCH ASSOCIATIONS ETC. [U/S 35] The details of such donations made to Research Associations etc. have to be filled in here. SCHEDULE 80IA, IB, IC, OR IE - DEDUCTIONS Separate Schedules u.s 80IA, IB, ICor IE deductions are to be filled (if applicable). SCHEDULE VIA - DEDUCTIONS UNDER THE CHAPTER VIA This Schedule requires figures of deductions claimed under Chapter VIA such as 80C, 80CCC, 80CCD , 80E , 80D , etc. SCHEDULE AMT - ALTERNATE MINIMUM TAX UNDER SECTION 115JC This Schedule requires the calculation of Tax payable u/s 115JC i.e. alternate minimum tax. SCHEDULE AMTC - CALCULATION OF TAX CREDIT U/S 115JD This Schedule requires the adjustment calculation of any tax credit availed and utilized u/s 115JD. SCHEDULE SPI - INCOME OF SPECIFIED PERSON U/S 64 I.E. MINOR CHILD, SPOUSE ETC. Under this Schedule, details of Income of Minor Child, Spouse, etc. specified u/s 64 have to be entered. SCHEDULE SI - SPECIAL INCOME This schedule requires to details of all incomes which fall under Special Income which are taxed at different rates mostly u/s 115 of the Income Tax Act. SCHEDULE IF - INFORMATION REGARDING THE PARTNERSHIP FIRM IN WHICH YOU ARE A PARTNER The details of income from the Partnership firm in which you are a partner is to be filled in here. SCHEDULE EI- EXEMPT INCOME Under this Schedule, complete details of all Income that are claimed to be Exempt have to be provided. SCHEDULE PTI - PASS-THROUGH INCOME FROM BUSINESS TRUST, INVESTMENT FUND U/S 115UA, 115UB Complete details of Income from the above trust or investment funds have to be provided in this Schedule. SCHEDULE TPSA - DETAILS OF TAX ON SECONDARY ADJUSTMENTS AS PER SECTION 92CE The relevant details are to be filled in here. SCHEDULE FSI - DETAILS OF INCOME FROM OUTSIDE INDIA AND TAX RELIEF Here, the details of Income earned from outside India in case of Resident and the tax relief (if any) claimed has to be provided along with country code and TIN of the country. SCHEDULE TR - SUMMARY OF TAX RELIEF CLAIMED FROM TAXES OUTSIDE INDIA In case of Resident earning Income from outside India and paying tax in that country, the tax relied claimed in India in respect of that income under section 90, 90A or 91 has to be provided here. SCHEDULE FA - DETAILS OF FOREIGN ASSETS AND INCOME FROM ANY SOURCE OUTSIDE INDIA This Schedule requires details of complete assets, bank accounts, demat accounts, any movable or immovable property etc. of any resident in a Foreign country and also income if any derived from such assets. The details are to be provided for the Calendar year i.e. for A.Yr.23-24 it has to be provided as at 31st Dec. 22. SCHEDULE 5A - INFORMATION REGARDING APPORTIONMENT OF INCOME AS PER PORTUGUESE CODE The relevant Information of the Spouse as per the Portuguese code has to be provided here. SCHEDULE AL - ASSETS AND LIABILITIES AS AT THE END OF THE YEAR [APPLICABLE IN CASE WHERE TOTAL INCOME EXCEEDS RS.50 LAKHS] Complete details of all assets i.e. Immovable and Movable in case of persons earning income above 50 lakhs has to be filled in this Schedule. The details of Assets and Liabilities should be other than as already filled in Part A - BS. SCHEDULE GST - INFORMATION REGARDING TURNOVER/RECEIPTS REPORTED IN GST The GSTIN details and turnover details as per GST returns are to be disclosed here. SCHEDULE - TAX-DEFERRED IN ESOP The relevant information - relatable to income on perquisites referred in section 17(2)(vi) received from the employer, being an eligible start-up referred to in section 80-IAC has to be provided here. PART B - TI - COMPUTATION OF TOTAL INCOME This schedule is the Summary of all above Schedules wherein the total income under each head of income is to be summarised so as to arrive at Gross total income and then Total income. PART B - TTI - TAX ON TOTAL INCOME Under this Schedule, the Tax liability is ascertained after providing for rebates and reliefs claimed and also the TDS, advance tax, Self asstt. tax are considered. The Interest u/s 234A , B & C are also calculated so as to arrive at net tax payable or refundable during the year. This Schedule also requires details of all bank accounts held during the year along with the account to which the refund has to be credited. This Schedule also has sub-schedules for Advance Tax, Self Assessment Tax, TDS, and TCS wherein complete details are to be provided as per tax challans, Form 26AS and Form 27D. VERIFICATION Form ITR-2 ends with the Verification section which can be done through Aadhar OTP, digital signature, other modes of verification. However, if no modes of E-verification are available, then ITR-V acknowledgment generated after e-filing has to be physically signed and sent to CPC-Bangluru within 30 days of filing. File ITR-3 with KarrTax File your ITR-3 for A.Y. 2025-26 with the best tax experts of KarrTax at just ₹2499! (audit charges not included) Frequently Asked Questions (FAQs) 1.What is the due date for filing the ITR-3 form? The due date for ITR-3 return filing is 31st July for non-audit cases and 31st October for audit cases. 2.I earn income from business but opted for presumptive taxation, so can I file ITR-3? No, In the case of presumptive taxation, only ITR-4 is applicable, which you can file here . 3.What documents are required for ITR-3 filing? Below documents are needed for ITR-3 filing: Form 16/16A/26AS Income proof of Salary , Capital Gains, House Property, and Other Sources. Documents for claiming deductions like u/s 80C. Books of accounts (In case of business or professional income) Bank account details 4.What is the difference between ITR-3 and ITR-4 forms? ITR-3 is applicable for individuals and Hindu Undivided Families (HUFs) who have income from proprietary business or profession. On the contrary, ITR-4 is applicable for individuals, HUFs, and firms (other than LLPs or Limited Liability Partnership) who earn presumptive income from business and profession. 5.What are the late fees or penalties for not filing ITR-3 before the due date? If you miss the deadline for filing your ITR-3 for Assessment Year 2025-26, there are penalties to consider. Individuals with income up to Rs. 5,00,000 may face a penalty of up to Rs. 1,000, while those with income exceeding Rs. 5,00,000 could incur a penalty of Rs. 5,000. How to File ITR 3 Online Filing ITR-3 online requires accurate reporting of business or professional income, ensuring compliance with income tax regulations. Individuals filing ITR-3 should provide relevant financial statements, such as a balance sheet, if applicable to their business or profession. A tax calculator specific to ITR-3 aids individuals in computing their tax liability concerning business or professional income accurately. Knowing who should file ITR-3, its applicability based on business or professional income, and utilizing the correct nature of business code for trading activities are essential aspects for successful and compliant tax filing processes. ফর্মিং আইটিআর -3 এর জন্য প্রয়োজনীয় ডকুমেন্টস ব্যবসায় / পেশা সম্পর্কিত নথি যেমন মালিকানাধিকারী ব্যালান্স শিট, লাভ এবং ক্ষতি সম্পর্কিত একটি হিসাবে সিলেকশনের সাথে আর্থিক বিবরণী সম্পূর্ণ করে। অংশীদার হলে - অংশীদারি উদ্বেগের মূলধনী অ্যাকাউন্ট ফার্মের বিশদ বিবরণ সহ প্রয়োজনীয় required অন্যান্য আয়ের সাথে সম্পর্কিত ডকুমেন্টস যেমন বেতন, মূলধন লাভ, বাড়ির সম্পত্তি, অন্যান্য উত্স ইত্যাদি etc. ছাড়ের সাথে সম্পর্কিত নথিগুলির দাবি যেমন কর সঞ্চয় বিনিয়োগ, 80 ডি থেকে 80 ইউ কে ছাড় ইত্যাদি claimed ফর্ম 16 / 16A / 26AS প্যান কার্ড আধার কার্ড What is ITR 3 ITR-3, a specific income tax return form, is primarily applicable to individuals and Hindu Undivided Families (HUFs) involved in businesses or professions. Those engaged in proprietary businesses or having income from a profession typically file ITR-3. It's important to note that ITR-3 filing doesn't include cases where individuals are not maintaining regular books of accounts. The nature of business code for F&O trading in ITR-3 helps in accurately categorizing income from Futures and Options trading activities. Understanding the applicability of ITR-3 is crucial, as it applies to individuals and HUFs with income from business or profession but not falling under the "no account case" category. আয়কর শিখুন এখানে আমাদের লার্নিং সেন্টারে আমরা সমগ্র আয়করকে বিভিন্ন উপ-বিভাগে ভাগ করেছি এবং দৈনন্দিন জীবনে প্রাসঙ্গিক বিষয়গুলি সংকলন করেছি। আপনি আপনার পছন্দের বিষয়ের মাধ্যমে ব্রাউজ করতে পারেন এবং সহজে বোঝার ভাষাতে প্রয়োজনীয় তথ্য পেতে পারেন। আমরা আমাদের বিষয় এবং বিভাগের তালিকায় নতুন এবং সর্বশেষ আপডেট যোগ করতে থাকব। আইটিআর -3 ফাইল করার পদ্ধতি আইটিআর -৩ ব্যবসায় / পেশা থেকে প্রাপ্ত ব্যক্তি / এইচইউএফের জন্য প্রযোজ্য। সুতরাং এটি ব্যবসায় / পেশা থেকে আয় না করে এমন কোনও ব্যক্তি দায়ের করতে পারবেন না। اور আইটিআর -৩ ফাইল করার পদ্ধতিগুলি হ'ল: ১. অনলাইন আইটিআর -৩ পূরণ করে আয়কর ইফিলিং পোর্টালে অনলাইনে আইটিআর -৩ জমা দেওয়া। এটি সাইটে লগ ইন করে করতে হবে। اور ২. ইনকাম ট্যাক্সের ইফিলিং পোর্টালে এক্সএমএল ফাইল আপলোড করে এবং পরে আইটি রিটার্ন যাচাই করে তা শারীরিকভাবে স্বাক্ষর করে বা বিভিন্ন ই-ভেরিফাই মোড যেমন আধার ওটিপি, ব্যাংক অ্যাকাউন্ট বৈধতা, ডিমেট অ্যাকাউন্টের বৈধতা ইত্যাদির মাধ্যমে ইত্যাদি যাচাই করে اور ৩. শারীরিকভাবে স্বাক্ষরিত আইটিআর -৩ স্বীকৃতি পোস্ট / স্পিড পোস্টের মাধ্যমে সিপিসি-বাংলালুরুতে প্রেরণ করতে হবে। اور ৪. নিরীক্ষার আওতায় থাকা ব্যক্তি / এইচইউএফ-এর ৪৪ এএবি / ৪৪ এডি এর ক্ষেত্রে নিরীক্ষা প্রতিবেদনটি আলাদাভাবে আপলোড করতে হবে এবং তারপরে আইটিআর -৩ জমা দিতে হবে। اور ৫. নিরীক্ষার মূল্যায়নকারীর ক্ষেত্রে আইটিআর -৩ ডিজিটালি স্বাক্ষর করে আপলোড করতে হবে। ওটিপিগুলির মাধ্যমে কোনও ম্যানুয়াল স্বাক্ষর এবং যাচাই করার অনুমতি নেই। আইটিআর 3 ডাউনলোড করুন Old Tax Regime Vs. New Tax Regime - Applicability for Asstt. Yr. 2024-25 The E-filing for the Asstt. Yr.2024-25 is starting soon. Let us understand the Old tax regime and new tax regime and what is the procedure to adopt the same. Old Tax Regime : For the Asstt. Yr.2024-25, the default tax regime is New Tax regime. i.e. you will have to adopt and choose old tax regime if you want to be taxed as per that regime. Under the Old tax regime, all the deductions such as standard deductions, deductions from house property, and deductions under chapter VIA of the Income Tax Act such as 80C, 80D, 80E, 80G, etc. will be available. The Tax slab under the Old tax regime will be as under : Income Range Tax Rate Upto Rs. 2.5 lacs Nil Rs. 2.5 lacs to 5 lacs 5% Rs.5 lacs to 10 lacs 20% Above 10 lacs 30% Plus there will be surcharges etc. as per the Act. New Tax Regime : Under the New tax regime, the tax slabs and rate of tax are different. However, there are no deductions available except standard deduction from salary and House property. i.e. tax will have to be paid on total income without deductions. The Tax slab under the New tax regime is as under : Income Range Tax Rate Upto Rs.3 lacs Nil Rs.3 lacs to Rs.6 lacs 5% Rs.6 lacs to Rs.9 lacs 10% Rs.9 lacs to Rs.12 lacs 15% Rs.12 lacs to Rs.15lacs 20% Above Rs.15 lacs 30% Plus there will be surcharges etc. as per the Act. Old Tax Regime Vs. New Tax Regime - Which is better? The decision to choose old tax regime or new tax regime depends on whether you have investments under Chapter VIA and other deductions such as house property interest etc. The same is also based on the fact as how much is your total income. The calculations has to be done under both regime and then it can be decided as to which scheme is better. You can connect to our tax experts to help make this decision at www.karrtax.in When to opt for New or Old Tax Regime : For Salaried & other Income taxpayers, the option to choose old tax regime is available at the time of filing of ITR and in the ITR form only the option can be exercised. The option can be changed year to year i.e. it can be switched from old to new and vice versa every year depending on the benefits. However, in the case of taxpayers having a business income, the option has to be exercised before filing ITR through the separate filing of Form 10IE. The option once exercised can be changed once only. One important thing to note here is that the filing of Form 10IE should be done before the due date of filing of Income tax return i.e. 31st July in case of non-audited cases and 31st Oct. in case of audited cases. If the option is exercised after the original due date of filing of ITR, the same will not be granted and the tax will be levied under new tax regime only. Frequently asked questions General1 General2 General3 General4 General5 General6 General7 General8 General9 General Getting Started and Using Magicc Tax Privacy and Security Technical Accounts and Billing Additional FAQs কোন আইটিআর আমার জন্য সেরা? এখানে ছোট ক্যুইজ করে কোন আইটিআর আপনার জন্য সবচেয়ে ভালো তা জানতে পারেন ➡ অন্যথায়, আপনি এই বিষয়ে আমাদের নিবন্ধটি পড়তে পারেন এখানে অনলাইন ইন্ডিয়া ট্যাক্স ফাইলিং কি নিরাপদ? হ্যাঁ! স্পষ্টতই! আমরা! 1. আপনার ডেটা আপনার! সুতরাং, এটি আমাদের নিরাপদ টিম 2. পেমেন্ট পদ্ধতি সম্পূর্ণরূপে সুরক্ষিত এবং ভারতের নং 1 পেমেন্ট গেটওয়ে দ্বারা পরিচালিত: Razorpay! 3. আমাদের ওয়েবসাইট 100% SSL সুরক্ষিত। কোন হ্যাকার, কোন চিন্তা নেই! কে আমার আইটি রিটার্ন ফাইল করবে? আপনার আইটিআর ট্যাক্স বিশেষজ্ঞদের দ্বারা ফাইল করা হয়েছে যাদের 20 বছরের বেশি অভিজ্ঞতা রয়েছে! ফর্ম 16 কি? প্রতিটি বেতনভোগী কর্মচারী যাদের আয়কর আইনের অধীনে সমস্ত যোগ্য কর্তনের পরে মোট আয় ট্যাক্সের জন্য প্রযোজ্য সর্বোচ্চ পরিমাণ ছাড়িয়ে যায় তাদের যোগ্য ট্যাক্স স্ল্যাব অনুসারে তাদের নিয়োগকর্তাদের কাছ থেকে তাদের কর কর্তন করা প্রয়োজন৷ এইভাবে নিয়োগকর্তাকে প্রত্যেক কর্মচারীর আয় থেকে উৎসে ট্যাক্স কাটতে হবে যার মোট আয় করের জন্য ধার্য্য এবং সরকারে কাটা TDS জমা দিতে হবে। অ্যাকাউন্ট। প্রত্যেক নিয়োগকর্তাকে আর্থিক বছরের শেষে বেতনের TDS রিটার্ন দাখিল করতে হবে এবং প্রত্যেক কর্মচারীকে ফর্ম 16 প্রদান করতে হবে যাদের TDS উৎসে কাটা হয়েছে। আরো বিস্তারিত জানার জন্য এটি দেখুন ➡
- 12A Income Tax Registration for Trusts and NGOs | Karr Tax
Learn how to secure 12A Income Tax Registration for your Trust or NGO. Unlock tax benefits and exemptions. Expert guidance for hassle-free registration. ট্রাস্ট / সোসাইটি / এনজিও নিবন্ধনের জন্য 12AB আয়করের আবেদনের জন্য আবেদন করুন এনজিও নিবন্ধন 1999 টাকা বিশেষজ্ঞের সাথে সংযোগ করুন আয়করের আওতায় আস্থা / সমিতির নিবন্ধন 2021 সালের 1 লা এপ্রিল থেকে কার্যকর সর্বশেষ সংশোধনী Non-Governmental Organizations (NGOs) play a crucial role in the development and welfare of society. These organizations, whether trusts, societies, or section 8 companies, work selflessly towards charitable or religious causes, aiming to make a positive impact on the lives of people in need. Running a charitable organization in India is a noble endeavour, but it often comes with financial challenges. This is where Section 12A of the Income Tax Act comes into play. To support their noble endeavours, the Indian government provides certain benefits and tax exemptions to registered NGOs under Section 12A of the Income Tax Act. Obtaining 12A registration allows organizations to receive income tax exemption under Section 11 of the Income Tax Act, allowing them to receive more resources to fulfil their mission. This also incentivizes donors to claim deductions on their contributions under Section 80G of the Income Tax Act . Trust and credibility are crucial assets for any charitable organization, and 12A registration enhances their reputation through recognition, attraction of donors, and government partnerships. Registration often opens doors to collaborations with government agencies and other reputable organizations. Financial transparency is another benefit of 12A registration. Registered organizations are required to maintain proper books of accounts and records, ensuring transparency in financial operations. Additionally, the registration process necessitates adherence to legal requirements, ensuring that the organization operates within the legal framework. 12A registration is not just a matter of compliance; it is a strategic move that can significantly impact the sustainability and effectiveness of your charitable organization. The tax benefits, enhanced credibility, and commitment to transparency can make your mission more sustainable. Eligibility and Prerequisites Meeting eligibility criteria and prerequisites is the first step towards unlocking the benefits of tax exemption and enhanced credibility. Legal Entity and Purpose To be eligible for 12A registration, your organization must meet certain fundamental criteria: Legal Entity: Your organization should be a legally recognized entity, registered as a trust, society, or section 8 company under the relevant state laws. Each of these entities serves different purposes: Trust: Typically formed for the management of a specific trust or endowment. Society: Primarily established for charitable, literary, or scientific purposes. Section 8 Company: Created for promoting commerce, art, science, sports, education, research, social welfare, and charity. Non-Profit Objective The primary objective of your organization should be non-profit in nature. This means that your organization's activities must not be driven by profit motives. Instead, they should focus on charitable, religious, or social welfare activities. Proper Maintenance of Records Registered organizations must maintain proper books of accounts and other records. These records should accurately reflect the financial transactions and activities of the organization. Essential Documents The key to a successful 12A registration application lies in the documentation you provide which is listed below: Trust Deed, Memorandum of Association, or Society Bye laws These foundational documents are critical for establishing the legitimacy and purpose of your organization. Depending on the type of entity, you'll need one of the following: Trust Deed : If you're a trust, you need a trust deed that outlines the objectives and rules governing the trust. Memorandum of Association : If you're a section 8 company, you should have a memorandum of association. Society Bye-laws : Societies require bye-laws that detail their objectives, membership rules, and operational guidelines. PAN Card You'll need a copy of the Permanent Account Number (PAN) card for your organization. This is crucial for tax-related transactions and identification. Bank Account Details Provide proof of your organization's bank account. This includes a bank statement or a letter from the bank confirming the existence of the account. Registration Certificate If your organization is registered under the relevant state laws, include a copy of the registration certificate. This further establishes your legal status. Donation Receipts and Utilization Reports To demonstrate your organization's non-profit activities, include donation receipts issued to donors and reports on how these funds were utilized for charitable purposes. Audited Financial Statements Include audited financial statements, including income and expenditure statements and balance sheets, for the past few years. This showcases your organization's financial transparency. Starting from April 1, 2021, there have been significant changes in the registration process for NGOs under the Income Tax Act. Let's delve into these transformations: For existing NGOs, the Principal Commissioner reviews applications, ensuring that genuine activities are conducted. Dissatisfaction can lead to rejection, with a fair hearing granted before a final decision. Registration Procedure The registration procedure is outlined in Rule 17A: Application Forms: Existing NGOs: Form No. 10A New NGOs: Form No. 10AB Required Documents: Pan Card with IT Login & Password Trust Deed or Creating Instrument (Self-Certified) Registration Certificate of Trust/Society/Section 8 Company (Self-Certified) Copy of FCRA Registration Certificate (if applicable, Self-Certified) Copy of 12A Income Tax Registration Certificate (if re-applying, Self-Certified) Copies of Annual Accounts (up to 3 years if applicable) Documentation for any changed or modified objectives Notes on Trust/Society activities Filing Process: Submit Form No. 10A or 10AB online via the Income Tax website (www.incometax.gov.in ). E-Verify or digitally sign the application. 4: Receiving Your Registration Certificate Once your application is approved, you'll receive a registration certificate under Section 12A of the Income Tax Act. This certificate officially grants your organization tax-exempt status. 5: Post-Approval Compliance After obtaining 12A registration, your organization must continue to maintain proper books of accounts, file annual returns, and comply with tax laws to retain its tax-exempt status. Steps for Online Application for Section 12A Registration Steps for Online Application for Section 12A Registration Step 1: Go to the official Income Tax Department website (www.incometax.gov.in ). Step 2: Register/Login: Create an account or log in if you already have one. Step 3: Navigate to the e-filing portal and select "Apply for registration under Section 12A." Step 4: Fill out Form No. 10A (Application for registration under Section 12A) with accurate details. Step 5: Upload the required documents, including the trust deed, registration certificate, and other supporting documents as specified in the form. Ensure they are self-certified. Step 6: Review the information provided in the form and the uploaded documents for accuracy and completeness. Step 7: Submit the application. Step 8: Pay any applicable fees or charges as per the current guidelines. Currently there are no charges officially Step 9: Receive an acknowledgment or receipt for the submission. Step 10: Wait for the processing of your application. The order for registration will be passed within 3 months for new NGOs who will be granted provisional Registration. For Final Registration, the processing time is 6 months. You may check the status of your application online. Step 11: If the application is approved, you will receive the Section 12A registration certificate. Step 12: Keep a copy of the registration certificate for your records and for future reference. Key Points to Note : Compliance and Reporting Obligations Maintaining your 12A registration status involves adhering to specific compliance and reporting obligations. Non-Compliance and Penalties Non-compliance with the registration and compliance requirements for NGOs can lead to various penalties and legal consequences. It is crucial for NGOs to adhere to the provisions of the Income Tax Act to maintain their tax-exempt status and avoid potential legal actions. Below, we outline some of the common areas of non-compliance and the corresponding penalties: NGOs can seek various benefits by obtaining 12A registration, as it grants them tax exemption under Section 12A of the Income Tax Act. This registration can be applied for online. It's essential for NGOs to file their income tax returns in India to maintain their tax-exempt status and benefit from the 12A certificate. Additionally, there's a provision for 12AB registration renewal to ensure ongoing compliance with tax regulations. Section 12A is a significant part of the Income Tax Act, offering tax benefits to registered NGOs. Obtain your 12A registration certificate to enjoy these advantages. ফর্ম 10 এ খুব জিজ্ঞাসা জিজ্ঞাসা আপনি কি আইটি বিভাগের সাথে আপনার এনজিওর নিবন্ধনের সন্ধান করছেন - এখানে ক্লিক করুন PDF এ ফর্ম 10A প্রয়োজন ফর্ম 10A-পিডিএফ ফর্ম 10AB PDF
- TDS interest and late fees | Karr Tax
Use the KarrTax TDS interest calculator to determine the interest on late TDS payments quickly. TDS late payment Interest Calculator and Late Filing Fees Select calculator Interest on late deduction Interest on late payment Enter Amount of Tax Deducted : Date of Amount Payment : Enter Date of Tax Deduction : Interest : Please enter amount to auto-calculate Enter Amount of Tax Deducted : Date of Tax Deduction : Enter Date of Tax Payment : Interest : Please enter amount to auto-calculate TDS Interest Calculator KarrTax has curated the TDS interest calculator to help you calculate the interest on late TDS deductions and payments! Here, we will explain in detail how to use this tool. Calculating TDS late filing fees or penalties is essential for taxpayers to understand the financial implications of delayed returns. A TDS late filing fee calculator assists in determining the exact penalties incurred due to late filing of TDS returns , including late filing fees for TDS returns or late fees for TDS return filing. The penalties and late fees for TDS returns, calculated through a TDS penalty calculator, depend on the duration of delay and the specific sections under which the TDS returns are filed. Additionally, interest on late payment of TDS can significantly impact the final dues, emphasizing the importance of using an interest calculator for TDS to accurately assess these financial obligations. What is TDS? TDS stands for "Tax Deducted at Source." It is a taxation mechanism employed by the Government to ensure the direct collection of taxes from an entity's income at the point of payment. Under the TDS system, the payer deducts a specific percentage of tax from the payment being made and subsequently remits this amount to the government on behalf of the payee. Different types of forms are available in India to file TDS, like Form 24Q , Form 26Q , Form 27Q , Form 27EQ and so on. What is TDS Interest Calculator? TDS interest calculator is an online tool that helps individuals calculate the applicable interest on late or delayed TDS payments. In many tax systems, including India's, penalties and interest charges are imposed when the deductor: Fails to deduct TDS or Deduct TDS but fails to deposit it timely. Understanding the interest rates and penalties associated with late payments or delayed filing of TDS returns is crucial. Utilizing an interest calculator on TDS provides a comprehensive view of the interest accrued due to late payments, aiding in precise financial planning and compliance. The TDS delay interest calculator precisely computes the interest due to late TDS payments, considering the applicable interest rates set by the Income Tax Department. Moreover, a TDS interest rate calculator assists in determining the interest accrued on delayed TDS payments, allowing taxpayers to understand the financial impact and take necessary corrective measures to mitigate penalties and interest charges. Let’s understand these aspects in detail! Interest Types & Penalty on TDS Interest on Late TDS Deduction A deductor is required to deduct TDS when making a payment, but if fails to do so, it's considered a violation of tax regulations. This will result in interest charges imposed by the government authorities. The interest is calculated at a rate of 1% per month, and even if it's just a part of a month, they treat it like a whole month for calculating the interest. Suppose TDS of Rs. 25,000 should have been deducted on 5th Feb. 2020 but was not deducted. It was eventually deducted on 1st March 2020. In this case, Interest is payable for the delay, which amounts to Rs. 500, calculated at a rate of 1% per month for two months (Feb and March). Final Output: 25000 * 1% * 2 = 500. Interest on Late TDS Payment When TDS is deducted but not deposited with the government within the stipulated time frame, interest can be levied on the delayed payment. Here, the interest rate for late payment of TDS is 1.5% per month. However, for TCS the interest rate is 1%. Let’s understand this more with an example! TDS of Rs. 10,000 was deducted on 26th Feb. 2020 but not paid on 7th March. It was eventually paid on 15th March. An interest of 1.5% will be imposed for the delay in Feb and March. Final Output: 10,000 * 1.5% * 2 = Rs. 300. ➢ Fee on Late Filing of TDS Returns Late filing of TDS or TCS returns occurs when taxpayers miss the deadline for submitting their respective returns. Typically, the due date for filing these returns is the last day of the month following the end of the respective quarter. But one exception is the last quarter, where the due date is May 31st. In cases of late filing, a penalty is imposed for each day of delay, which amounts to Rs. 200 per day. The penalty continues to accrue until it equals the total amount of TDS or TCS deposited. For instance, Let's calculate the penalty for a scenario where a TDS return should be filed on January 31, 2021 (i.e., the 3rd quarter of return filing) with a TDS amount of Rs. 10,000, but it was actually filed on March 15, 2022. The fee for late TDS filing is applied daily, which is Rs. 200 for 43 days. Fee on late TDS filing = 43 days x Rs. 200 = Rs. 8,600. Below is a table specifying the last date of filing TDS returns for each quarter. Penalty For Wrong Filling or Non-Filing of TDS Return Penalties for wrong or non-filing of TDS returns vary depending on the nature of the error or non-compliance. In accordance with Section 271H of the Income Tax Act of 1961, penalties typically range from a minimum of Rs. 10,000 to a maximum of Rs. 1,00,000. However, the actual penalty amount will be determined according to the gravity and nature of the TDS return non-compliance. Step-by-Step Process To Use KarrTax TDS Interest Calculator The process of using KarrTax TDS Interest Calculator is seamless. Follow the below steps, and you will get all the calculations at your fingertips. Step 1. The first and foremost step is to select the appropriate calculator based on your specific requirements, i.e., TDS Late Payment Interest Calculator or TDS Late Deduction Interest Calculator. Step 2. Enter the TDS amount. Step 3. Then, add the date/month/ quarter for which the late fee or interest will be calculated. Step 4. After this, write the actual deposit or deduction date. Step 5. Lastly, Click on the "Calculate" button. Benefits of Using KarrTax TDS Interest Calculator TDS interest calculations can be complex due to varying interest rates, rules, and delay periods. This TDS interest calculator ensures accurate calculations and reduces the risk of errors. The calculator considers different scenarios, including late deposit and deduction, and covers all TDS late payment interests. KarrTax TDS Interest calculator provides a breakdown of the interest calculation and helps you understand how the final amount is determined. A TDS Interest Calculator helps in financial planning and budgeting, allowing individuals to estimate potential interest charges in advance. This calculator is easy to use and accessible from anywhere with an internet connection. Online calculators ensure users can access the latest interest rates and rules. That's why these are often updated to reflect changes in tax regulations. FAQs (Frequently Asked Questions) What is a TDS Interest Calculator? It is a digital tool that helps entities calculate the interest amount on late TDS payments. It takes different aspects, such as interest rates, delay periods, and specific tax regulations to provide accurate calculations. 2. Can I use a TDS Interest Calculator for past transactions? Yes, it can be used to calculate interest for past transactions where TDS was delayed. Just follow the easy steps and enter the relevant information for the delayed transaction. 3. What is the difference between TDS and TCS interest calculation? TDS (Tax Deducted at Source) refers to the deduction of tax on certain payments, while TCS (Tax Collected at Source) involves the collection of tax by the seller. Note: Apart from TDS, TCS interest calculators serve as crucial tools for businesses to compute interest on late payments related to Tax Collected at Source (TCS). These calculators help in understanding and computing the interest accrued due to delays in TCS payments . Similarly, the 26QB late fee calculator provides a specialized tool to determine penalties for delayed payments made through Form 26QB, highlighting the importance of accurate calculations to avoid excessive fees. The interest and penalty calculators for TDS returns or Form 26QB ensure that individuals and businesses are aware of the additional financial liabilities incurred due to delays, aiding in better financial planning and compliance. 4. Where can I find a TDS Interest Calculator? TDS Interest Calculators are often available online, like KarrTax TDS Interest Calculator. You can use this to perform various TDS calculations simultaneously. 5. Are TDS Interest Calculators user-friendly? Yes, these are typically designed to be user-friendly, requiring minimal input and providing straightforward results. 6. What is the interest rate on a late TDS deposit? The interest rate on late TDS deposits can vary according to certain factors. Typically, the rate for late TDS deposit is around 1.5% or 1% per month. However, checking the current rates and guidelines with the relevant tax authority is advisable, as the interest rates and rules may change over time. File your Income Tax and TDS/TCS returns at affordable prices now!
- Calculate Advance Tax with Ease | Expert Advance Tax Solutions by Karr Tax
Optimize your taxes with our user-friendly advance tax solutions. Calculate your advance tax liability for FY 2024-25 with ease! Advance Tax Planning and Calculation - F. Yr. 2024-25 Calculate Advance Tax for Financial Year 2024-25 with Karr Tax's free tool. Do It Yourself Advance Tax Calculator for all sorts of income . From salary to capital gains, you do it yourself Get Started Get a Tax Expert Need a Tax Expert for your advance tax calculations? We've got you covered! Connect Now Your content has been submitted Basic Details Income Details Deductions Taxes Paid Financial Year PAN No. City Residential Status Resident Not Ordinarily Resident Non Resident Next Salary Income Basic Salary HRA Received Actual Rent Other Taxable Allowances Next House Property Income SELF OCCUPIED Interest on Borrowed Capital LET OUT Rent Received Muncipal Tax Interest on Borrowed Capital Next Capital Gains Q1 Q2 Q3 Q4 Short Term Capital Gains 15% Short Term Capital Gains 30% Short Term Capital Gains slab Long Term Capital Gains 10% Long Term Capital Gains 20% Short Term Capital Gains 15% Short Term Capital Gains 30% Short Term Capital Gains slab Long Term Capital Gains 10% Long Term Capital Gains 20% Short Term Capital Gains 15% Short Term Capital Gains 30% Short Term Capital Gains slab Long Term Capital Gains 10% Long Term Capital Gains 20% Short Term Capital Gains 15% Short Term Capital Gains 30% Short Term Capital Gains slab Long Term Capital Gains 10% Long Term Capital Gains 20% Next Business & Profession Income Business Turnover Business Profits Speculative Business Turnover Speculative Busines Profit Next Other Incomes Savings Account Interest Fixed deposit Interest Domestic Dividend Other Income Next Investments Section 80C Next TDS Date of Deposit Amount Next TCS Date of Deposit Amount Next Advance Tax Date of Deposit Amount Add Calculate Tax DIY wala You are just one step away from calculating your Advance Tax Liability. Fill the form below and calculate it for FREE. Enter Details to Continue Your details have been submitted Error Message Particulars Total Tax Payable Installment Tax To be Deposited Tax Credits Outstanding Interest rate u/s 234C Interest u/s 234c NEW OLD Q1 Q2 Q3 Q4 0 15% 0 0 0 0 0 Connect with a Tax Expert to Calculate your Advance Tax Rs.499/- Advance Tax Calculation & Planning for one Quarter Start now Rs.1499/- Advance Tax Planning & Calculation for full year i.e. 4 quarters Start now Advance Tax Planning Advance tax planning is a vital financial practice that ensures individuals, businesses, and professionals manage their tax liabilities efficiently. In the Financial Year 2024-25 (A.Yr. 2025-26), understanding the nuances of advance tax planning is more critical than ever. Advance tax, often referred to as the "pay-as-you-earn" tax, is a system which requires individuals, including salaried individuals, self-employed professionals, and business owners, to pay their taxes in installments rather than a lump sum at the end of the year. The advance tax liability arises when the total tax liability for the year exceeds Rs. 10,000. Advance tax is mandatory for individuals, Hindu Undivided Families (HUFs), firms, Limited Liability Partnerships (LLPs), com.The primary purpose of this system is to ensure a steady and predictable inflow of revenue for the government while alleviating the financial burden on taxpayers. Service wala Income Tax Slabs and Rates for FY 2024-25 For FY 2024-25, understanding the income tax slabs is essential. For ,senior citizens (individuals aged 60 years or above) without business income are exempt from advance tax payment The slabs for individual taxpayers, aged below 60 under old tax regime, are as follows: Income up to ₹2.5 lakhs: Nil tax Income from ₹2.5 lakhs to ₹5 lakhs: 5% tax Income from ₹5 lakhs to ₹10 lakhs: 20% tax Income above ₹10 lakhs: 30% tax How to Calculate Advance Tax for FY 2024-25? Here's a step-by-step process to calculate your advance tax: ● Estimate Your Total Income: Start by estimating your total income for the financial year 2024-25. Consider all sources of income, including salary , business profits, capital gains , and income from other sources. ● Deduct Tax Deductions and Exemptions : Identify the deductions and exemptions you are eligible for and subtract them from your total income. These may include deductions under Section 80C, 80D , 80G , and exemptions such as HRA and LTA. ● Calculate Taxable Income: After deducting the deductions and exemptions, calculate your taxable income. This is the income on which you will be liable to pay taxes. ● Apply Tax Slabs and Rates: Determine the applicable tax slabs and rates for your taxable income. The Income Tax Department updates the tax slabs and rates each year, so make sure to refer to the latest information. ● Compute Tax Liability: Multiply your taxable income by the respective tax rates for each tax slab to calculate your tax liability. Add the taxes for each slab to arrive at your total tax liability for the financial year 2024-25. ● Deduct TDS and Other Taxes Paid: Reduce the tax deducted at source (TDS) and any other taxes already paid during the year from your total tax liability. This will give you the net advance tax payable. ● Divide Advance Tax into Installments: Divide the net advance tax payable into four equal installments, as per the prescribed due dates. The due dates for advance tax payment are 15th June, 15th September, 15th December, and 15th March. ● Deposit Advance Tax Installments: Pay the calculated advance tax installments by the respective due dates. Ensure timely payment to avoid interest and penalties . Important Dates for Advance Tax Payment in FY 2024.25 Quarterly Payment Schedule Advance tax payments are spread across four installments in FY 2024-25, with due dates as follows: By 15th June: 15% of the estimated tax liability( First installment ) By 15th September: 45% of the estimated tax liability(Second installment) By 15th December: 75% of the estimated tax liability(Third installment) By 15th March: 100% of the estimated tax liability(Fourth installment ) Penalty for Non-Payment or Underpayment Failure to pay advance tax on time or underestimating tax liability can lead to penalties and interest. Under Section 234B and 234C of the Income Tax Act, interest is charged on the shortfall in tax payments. Additionally, a penalty of 1% per month on the unpaid tax amount may. Here are the consequences of non-payment or underpayment: ● Interest under Section 234B: If you do not pay at least 90% of your total estimated tax liability as advance tax by 31st March of the financial year, you may be liable to pay interest under Section 234B. This interest is calculated at 1% per month on the shortfall amount. ● Interest under Section 234C: Under Section 234C, if you miss any of the quarterly installment due dates or underpay the installments, you may be liable to pay interest at 1% per month or part thereof on the shortfall amount. To avoid these consequences, it is essential to accurately estimate your advance tax liability and make timely payments. For FY 2024-25, determining how much advance tax to pay is essential to meet the due dates and avoid interest charges under section 234C. Use an advance income tax calculator or a specialized 44AD or 44ADA tax calculator for simplified calculations. Ensure timely payment of your advance tax installments to stay compliant with the due dates. Keep track of interest calculations with the 234 interest calculator. Mastering these aspects of advance tax management is crucial for a smooth financial journey. Strategies for Advance Tax Planning Calculating advance tax for the fiscal year 2024-25 is vital to avoid penalties. Understanding the advance tax slab and rates from the advance tax chart is crucial for accurate calculations. You can simplify this process with an advance tax calculator designed for FY 2024-25. To avoid penalties, ensure you make advance tax installments according to the prescribed method. Spreading Income Effectively spreading income across the fiscal year can help in tax planning. Strategies include: Salary Restructuring: Optimize salary components to maximize exemptions and deductions. Income Shifting within the Family: Distribute income among family members in lower tax brackets. ● Investment Planning Choosing tax-efficient investments and managing your portfolio can significantly impact tax liability. Consider: Tax-Efficient Investments: Explore instruments like ELSS, PPF, and tax-saving fixed deposits. Portfolio Rebalancing: Adjust your investment portfolio to align with tax-saving goals. ● Capital Gains Management Timing the sale of capital assets and utilizing capital losses effectively can reduce tax liability. Timing of Asset Sales: Consider the holding period to benefit from lower tax rates. Use of Capital Losses: Offset gains with capital losses to minimize tax outflows. ● Business Strategies For businesses, managing expenses and leveraging depreciation and amortization benefits can help in advance tax planning. Expense Management: Carefully track and optimize business expenses. Depreciation and Amortization Benefits: Utilize depreciation and amortization deductions to reduce taxable income. ● Retirement Planning Contributing to retirement accounts like EPF, PPF, and NPS offers tax benefits and aligns with long-term financial goals. Contributions to EPF, PPF, NPS, etc.: Maximize contributions to enjoy tax benefits and secure your retirement. ● Invest in Tax-Saving Instruments One of the most common tax-saving strategies is investing in tax-saving instruments eligible for deductions under Section 80C of the Income Tax Act. These instruments include: ● Public Provident Fund (PPF) ● Employee Provident Fund (EPF) ● National Savings Certificates (NSC) ● Tax-saving Fixed Deposits ● Equity Linked Saving Scheme (ELSS) ● Sukanya Samriddhi Yojana (SSY) ● Senior Citizen Savings Scheme (SCSS) By investing in these instruments, you can reduce your taxable income and simultaneously grow your wealth. ● Take Advantage of Tax Deductions Apart from Section 80C, the Income Tax Act provides various other sections that offer deductions for specific expenses. Some notable deductions include: ● Section 80D: Deduction for health insurance premiums ● Section 80E: Deduction for education loan interest ● Section 24(b): Deduction for home loan interest ● Section 10(14): Deduction for house rent allowance (HRA) Ensure that you explore all available deductions and claim them to reduce your taxable income. ● Make Charitable Donations Donating to charitable organizations not only contributes to a noble cause but also offers tax benefits. Under Section 80G of the Income Tax Act, donations made to eligible charitable institutions are eligible for deduction. Ensure that you obtain proper receipts and certificates for the donations made. ● Utilize Tax Exemptions Take advantage of tax exemptions provided under various sections of the Income Tax Act. These exemptions can significantly reduce your tax liability. Some common exemptions include: ● House Rent Allowance (HRA) exemption ● Leave Travel Allowance (LTA) exemption Consult with your employer or tax advisor to understand the exemptio ns applicable to your specific case. Staying informed about the advance tax rate and using a penalty calculator when needed will help you manage your taxes efficiently. Compliance and Documentation Record Keeping for Income and Expenses Maintaining accurate records of income and expenses is essential for advance tax planning. Proper documentation ensures that you can substantiate your income and deductions if required. Filing Income Tax Returns (ITR) Timely filing of income tax returns is a key compliance requirement. Ensure that you file your returns by the specified due date to avoid penalties and legal issues. Avoiding Tax Evasion and Penalties Tax evasion is illegal and can lead to severe penalties and legal consequences . It's crucial to plan your taxes within the framework of the law to avoid such issues. Advance Tax Estimation Methods Estimating your advance tax liability accurately is essential to avoid underpayment or overpayment. Here are some methods to help you estimate your advance tax liability effectively: 1. Historical Income Method Under this method, you estimate your advance tax liability based on your income in the previous financial year. You can use the previous year's income as a reference and adjust it for any expected changes in the current year. 2. Projected Income Method The projected income method involves estimating your income for the current financial year based on expected earnings. Consider factors such as salary increments, business growth, and changes in investments when projecting your income. 3. Income Till Date Method The income till date method involves calculating your advance tax liability based on the income earned until the date of payment. This method is suitable if your income is irregular or if you experience significant fluctuations throughout the year. Managing your advance tax liability in India requires a precise computation of your income and understanding the advance tax payment dates. To avoid interest charges under section 234C, calculate interest accurately. If you fall under presumptive tax, use a presumptive tax calculator for ease. Explore online tax calculators designed for India to streamline the process. Additionally, consider using a section 24 calculator for property-related calculations. Staying informed and utilizing these tools can help you navigate the complex world of advance tax payment efficiently. Advance tax planning can be complex, especially if you have multiple sources of income or if you are unsure about the applicable tax laws. Seeking professional assistance from a tax consultant or chartered accountant can help you navigate through the intricacies of advance tax planning. A tax expert can provide personalized guidance to optimize your tax liability. Why should you use an advanced tax calculator? Calculating advance tax is crucial to avoid interest charges. To determine your advance tax liability, you can use an advance tax calculator. It helps you estimate the amount you owe and avoid any surprises at tax time. The advance tax slab for individuals varies, so understanding how to calculate it is essential. By using an advance tax payment calculation tool and factoring in any income changes, you can manage your finances efficiently. Don't forget the advance tax interest calculator to account for any interest on late payments. Mastering these aspects of advance tax is key to a smooth financial journey. Calculating advance tax, whether for individuals or companies, is simplified with an advanced tax calculator. Understanding the income tax slab and factoring in any LTA exemptions is essential. To avoid interest charges, consider an advance tax interest calculator. Ensure you calculate advance tax accurately, including 234B interest if applicable, especially on salary income. Managing your taxes efficiently involves mastering these calculations to stay financially on track.
- Plans & Pricing | Karr Tax
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- ITR - 5 | Karr Tax
: Utilize our user-friendly online platform to file your ITR-5 Return hassle-free and ensure the use of all eligible tax benefits and deductions. It offers the ITR-5 filing steps, relevant provisions of Income Tax and other procedural details. ITR - 5: Price List আইটিআর 5 ফিলিংস এ.আই.আর. 2021-22 তোমারটা নাও ₹2999 For Firms/AOP Takes 1-2 Days on average. ✅ Expert Assisted ✅ Completely Secure ✅ Affordable Pricing Get Started ITR - 5: FAQ ITR-5 Return Filing ITR-5, an income tax return form, is specifically designed for firms, Limited Liability Partnerships (LLPs), Association of Persons (AOPs), and Body of Individuals (BOIs). It caters to entities other than individuals, catering to partnership firms, LLPs, AOPs, and BOIs, ensuring they comply with income tax regulations. ITR-5 is particularly applicable to these non-individual entities, serving as the designated form for filing income tax returns . Partnership firms and entities such as AOPs and BOIs utilize ITR-5 to report their income, ensuring accurate disclosure of financial details and adherence to tax norms. Understanding how to file ITR-5 is crucial for these entities to comply with income tax regulations and fulfill their tax obligations. কার জন্য আইটিআর 5 যোগ্যতা I আইটিআর -৫ ফর্মটি পৃথক, এইচইউএফ, সংস্থা ব্যতীত অন্য সকল ব্যক্তি এবং আইটিআর-7 ফাইল করার জন্য প্রয়োজনীয় ব্যক্তিদের দ্বারা ফাইল করা আবশ্যক। আইটিআর -৫ ফাইল করার যোগ্য ব্যক্তিরা হলেন: একটি খামার; সীমিত দায় অংশীদারিত্বের; ব্যক্তিদের সমিতি (এওপি); ব্যক্তিদের বডি (বিওআই); ধারা ২ (৩১) (vii) এ উল্লিখিত কৃত্রিম আইনশাস্ত্র ব্যক্তি (এজেপি); স্থানীয় কর্তৃপক্ষ ধারা 160 (1) (iii) বা 160 (1) (iv) এ উল্লিখিত; সমবায় সমিতি; সোসাইটিস রেজিস্ট্রেশন অ্যাক্ট, 1860 বা কোনও রাজ্য আইন ট্রাস্টের অধীনে নিবন্ধিত সোসাইটি (আইটিআর -7 ফর্ম জমা দেওয়ার জন্য যোগ্য ট্রাস্টি ব্যতীত) মৃত ব্যক্তির সম্পত্তি ইনসিভলভেন্টের এস্টেট বিজনেস ট্রাস্ট বিভাগের ১৩৮ (৪ ই) এ উল্লিখিত বিভাগের ১৩৮ (৪ এফ) -তে বিনিয়োগ তহবিল উল্লেখ করা হয়েছে Who Is Eligible For ITR-5 Filing? The following entities are required to file an ITR-5 return. Firms (including Limited Liability Partnerships - LLPs) Association of Persons (AOP) Body of Individuals (BOI) Artificial Juridical Person Estate of deceased & insolvent Juridical person under section 2(31)(vii) Cooperative Societies Local Authorities ফাইলিং আইটিআর -5 এর জন্য প্রয়োজনীয় ডকুমেন্টস Here is the list of entities that are not required to file the ITR-5 form but may use other ITR forms based on their specific circumstances: Individual assessee: Individuals should use the appropriate ITR form according to their sources of income, such as salary, house property, and other sources. Hindu Undivided Families (HUFs): HUFs generally use ITR-2 if they have income from multiple sources. Companies: Companies, whether private or public, have their own set of ITR forms, like ITR-6 or ITR-7, depending on their legal structure and income sources. Taxpayers using ITR-7 Form: Entities falling under Sections 139(4A), 139(4B), 139(4C), 139(4D), 139(4E), or 139(4F) are required to use Form ITR-7 . This includes charitable trusts, political parties, educational institutions, and other similar entities. Structure of the ITR-5 Form The ITR-5 Form is divided into two parts and several schedules. Below is a detailed overview of its structure. Part A: General information This section includes personal information about the taxpayer, including name, address, PAN (Permanent Account Number), and more. Part A-BS: Balance Sheet It reports the details related to the balance sheet, including assets and liabilities, as of the specified date. Part A-Manufacturing Account Here in this section, details of the manufacturing account are included. Part A-Trading Account Information about the trading account for the financial year. Part A-P&L: Profit and Loss Account Includes information about income and expenses for the current financial year. Part A-OI: Other Information Here in this section, details of the manufacturing account are included. Part A-QD: Quantitative Details This section encompasses the quantitative details of various items. Part B: This section calculates and reports the taxpayer’s total income and tax liability. Further, there are 31 schedules, sections, or categories within the form. Part B-TI: Computation of Total Income Details of income, such as salary, house property, capital gains, business/profession income, and other sources. Part B-TTI: Tax Liability on Total Income Calculation of tax liability and details of deductions and exemptions. Schedule CG: Capital Gains Computation of income under the details of capital gains. Schedule OS: Income from Other Sources Computation of income under the details of income from other sources Schedule CYLA: Set off of Current Year Losses Information about setting off the current year's losses. Schedule BFLA: Brought Forward Losses of earlier years Information about the setting off of unabsorbed losses brought forward from previous years. Schedule DPM: Depreciation of machinery and plant computation Information about depreciation on plant and machinery under the Income Tax Act Schedule UD: Unabsorbed Depreciation Information about unabsorbed depreciation. Schedule CFL: Carried-forward losses Details of losses that are carried forward in future years. Schedule ICDS: Income Computation Disclosure Standards on Profit Details related to ICDS. Schedule 80G: Donations entitled to deduction under section 80G Information about donations eligible for deductions as per section 80G of the Income Tax Act. Schedule 80GGA: Donations for scientific research or rural development Information about donations for scientific research or rural development is eligible for deductions. Schedule RA: Research associations' transactions on which tax is payable If applicable, information about donations to research associations. Schedule 80IA: Deduction under section 80IA Details about deductions under section 80IA. Schedule 80IB: Deduction under section 80IB Details about deductions under section 80IB. Schedule IF: For partnership firms Details of partnership firms in which the assessee is a partner. Schedule EI: Exempt Income All the income information that is not included in the total income. Schedule PTI: Business trust or investment fund Details of pass-through income from business trusts or investment funds under section 115UB, 115UA. Schedule AMT: Alternate Minimum Tax (AMT) Calculation of Alternate Minimum Tax, payable u/s 115JC. Schedule HP: House Property Details of income from house property . Schedule CG: Capital Gains Computation of income under “Capital Gain” head . Schedule AMTC: Computation of tax credit under section 115JD Information about tax credits, if applicable. Schedule BP: Business and Profession Information about profit and gains from business or profession. Schedule DOA: Depreciation over other assets Information about the computation of depreciation on other assets Schedule DCG: Deemed capital gains Information about deemed capital gains upon the sale of depreciable assets. Schedule ESR: Expenditure over scientific research Deduction under section 35 on the scientific research expenditure. Schedule DEP: Depreciation on all the assets Summary of depreciation on all the assets. Schedule- 10AA: Deduction under section 10AA Information about the computation of deductions under section 10AA Schedule 80IC / 80IE: Deduction’s computation u/s 80IE or 80IC Computation of deduction under section 80IC/ 80-IE. Schedule 80P: Deductions under section 80P Information about all the deductions under section 80P. Schedule TR: Summary of tax relief claimed for paid taxes Details of tax relief claimed for taxes paid outside India. Schedule GST: turnover/gross receipt reported for GST Details of Goods and Services Tax (GST) turnover/gross receipts. Schedule TPSA: Secondary adjustment to transfer price Secondary adjustment to transfer price under section 92CE(2A). Tax Payments: (i) Advance and self-assessment tax payment details . (ii) Details of TDS (tax deducted at source)on income other than salary (16A, 16B, 16C) (iii) TCS ( tax collected at source) details. Due Dates for Filing ITR 5 Return Following are the due dates for filing the ITR-5 Form. How to File the ITR 5 Return? Filing the ITR-5 form in India involves several steps, and you can choose from various methods, including online and offline. Online Filing To file the ITR 5 Return, you first need to register on the Income Tax Department's e-filing portal (https://www.incometax.gov.in/ ) After logging in to your account, go to the "Download" section and select the relevant assessment year and form number, i.e., ITR-5. Open the downloaded ITR-5 form in a PDF utility or online tax preparation software like Karr Tax Ones. Then, fill out the form with accurate and complete information. Validate the form to check for errors or inconsistencies and generate its XML file. Log in to your e-filing account, navigate to the "Upload Return" section, and select the ITR-5 form. Here, you must upload the XML file generated in the previous step. Once you successfully upload the XML file, you need to verify the return. There are multiple methods available for verification, such as using Aadhaar OTP, EVC (Electronic Verification Code), or sending it by Speed Post to Post Bag No. 1, Electronic City Office, Bengaluru–560500 (Karnataka). Filing ITR-5 online involves using the Income Tax Department's e-filing portal, where entities can fill, download, and submit the form electronically. This online filing process for ITR-5 ensures convenience and ease in compliance for firms, LLPs, AOPs, and BOIs, simplifying the tax filing procedure. ITR-5 download is available on the official income tax e-filing portal, enabling these entities to access the necessary form for reporting their income. Knowing who can file ITR-5 and its applicability to firms, LLPs, AOPs, and BOIs helps these entities in accurately disclosing their financial particulars, fulfilling their tax responsibilities, and maintaining compliance with income tax regulations. Offline Filing For the offline filing of ITR-5, you can download the form via official Income Tax India website. Print the form and fill it out manually or you can for a bar-coded return as well. Important Points To Note: Annexure or document such as TDS certificates should not be attached to the return form while filing ITR-5. If any such documents find enclosed with this return form, then it will be detached and returned to the person filing the return. It is necessary that the taxpayers match the taxes deducted/collected/paid with their Tax Credit Statement Form 26AS. Why Choose Karr Tax for ITR-5 Form Filing? ●Experience and Expertise At Karr Tax, we have a team of experienced tax professionals who are better equipped to handle various tax scenarios. You will get expert guidance throughout the filing process and assurance that your return is adhering to all the compliances with tax regulations. Also, tax laws and regulations change frequently in India. That’s why we always remain up-to-date with them to provide the best ITR-5 form filing services. Data Security Tax-related information contains sensitive and confidential data; that’s why we prioritize its security. We use robust data security measures and the latest encrypted technologies to protect your personal and financial information. ●Client Support Our team of experts is available round the clock to solve all your queries and concerns. You can expect real-time assistance whenever you need it through multiple communication channels, such as phone, email, live chat, or dedicated client portals. ●Affordable & Convenient Karr Tax online filing portal offers user-friendly interfaces and step-by-step guidance to simplify the tax filing process. Also, our ITR-5 filing services are affordable, but it doesn't mean we compromise on quality or accuracy. Our sole aim is to provide you with excellent services at the best price possible. ●Additional Services Along with ITR-5, we offer several other services as well, such as GST return filing , TDS Return filings, TAN registrations, and many more. Moreover, you can visit our official website, i.e., https://www.karrtax.in/ to know more about our different services. Frequently Asked Questions Who is required to file the ITR-5 form? The ITR-5 form is filed by Partnership Firms including LLPs, Association of Persons, Body of Individuals, Artificial Juridical Persons, Estate of the deceased and insolvent, and Investment fund. 2.Is DSC required for ITR-5 return filing? If your accounts are audited u/s 44AB, it is mandatory to verify them via DSC or digital signature otherwise it can be validated through Aadhar OTP of partner. 3. Can a salaried person file ITR 5? No, this form is not filed by an individual salaried person. There are other forms like ITR-1 ,2 which they can file. 4. What are the consequences of not filing ITR 5 or filing it after the due date? Failing to file ITR 5 or filing it after the due date may result in penalties and interest. You may also lose certain benefits and deductions under the Income Tax Act. 5. How can Karr Tax help you with ITR-5 filing? Our tax professionals will help you with the actual preparation and submission of your ITR-5 electronically. Also, we’ll guide you on minimizing your tax liability by taking advantage of available deductions and exemptions.



