How To file an income tax return in Gurgaon?

The procedure of submitting an Income Tax Return (ITR) in Gurgaon via the internet is known as e-filing. To file an ITR electronically, one does not have to leave the convenience of their home or place of employment. E-filing your ITR could end up saving you money in the long run because you won’t have to pay someone to submit it for you. In Gurgaon, there are numerous firms that offer to file income tax returns for little fees. 

Overview of Income Tax Return e filing in India

All law-abiding Indian citizens are required to file income taxes with the government. You may quickly file your income tax online thanks to modern technologies. There are no time restrictions and this technique is quick and precise. 

ITR forms must be submitted in order to electronically file income tax returns in India via the official website. ITR forms are different for those who are self-employed and those who are employed. Given that the income tax division has a variety of forms with designations ranging from ITR 1 to ITR 7, this is a crucial responsibility. Each form has a distinct purpose and fits into a specific category. 


Your income tax will not be filed on time even if you only forget to fill out one field on the form or make any other mistakes. Here is where you require professional advice. Because of this, you can rely on us to file your income tax returns. You must give us the following documents in order to do it. 

Who should file ITR ?

If a person meets any of the following criteria, filing income tax returns in India is required:

●     Those who are subject to the corresponding tax slabs. 

●     Regardless of the profit or loss realized throughout a fiscal year, if it is a company or firm. 

●     If a tax refund should be requested.

●     If the requirement to carry forward a loss under a certain head of income. 

●     A inhabitant of India who owns property or has a financial stake in a company outside of India.

●     One is a signing authority in a foreign account if they are an Indian resident. 

●     If a person receives income from assets held in trust for charitable or religious purposes, or by a political party, research organisation, news organization, educational or medical institution, union, not-for-profit university or educational institution, hospital, infrastructure debt fund, or any other authority, body, or trust. 

●     If one is making a loan or visa application. 

●     If an NRI receives some or all of his or her income from sources in India, such income is subject to taxation there, necessitating the filing of income tax returns.

What benefits do you get from filing an income tax return filling?

1. Timely handling 

Income Tax Returns (ITR) are quickly acknowledged. More crucially, refunds, if any, are handled more quickly than returns filed on paper. 

2. Increased precision 

With built-in validations and electronic connectivity, e-filing software is seamless and significantly reduces errors. Paper filings are susceptible to mistakes. There is a chance of human error in data entry when a paper-based form is converted to an electronic system.

3. Convenience

Online tax filing has no time or location restrictions. You can file electronically whenever and wherever you like because the service is open around-the-clock. 

4. Remaining discreet 

Better security than paper filings because nobody can access your data accidentally or on purpose. Paper filings increase the risk that information about your income will end up in the wrong hands at the offices of the Income Tax Department or your chartered accountant. 


5. Availability of historical data 

While filing returns, it is simple to retrieve historical data. When filing subsequent returns, the majority of e-filing programmes make it simple to access data that has been securely stored. 


6. Evidence of receipt 

You promptly receive filing confirmation through email on your registered email address both at the time of filing and moving forward. 


7. Usability 

Even those who are not particularly familiar with the internet can use e-filing because it is user-friendly and comes with clear instructions. 


8. Online banking 

Among other convenience features, you have the choice to file your taxes now and pay them later by choosing the day your bank account will be debited.

ITR Filing Late Fee Penalty

Huge penalties are imposed on the taxpayer if the returns are not filed by the deadline. If the returns are not filed, the person may experience extra hassles and repercussions in addition to penalties. Individuals may be subject to fines ranging from Rs. 1,000 to Rs. 10,000 depending on when their returns are filed beyond the deadline.