What is Income Tax Return?


An income tax is a tax imposed on individuals or entities for income or profits earned. For partnership and domestic companies are taxable at 30% (plus Surcharge and Health and Education Cess). The tax rate would be 25% if turnover or gross receipt of the company does not exceed Rs. 250 crore in the previous year.

Details required for IT filings

  • Entity Name
  • Date of Incorporation
  • PAN number of the Company
  • Registered Office Address
  • Annual Income Details
  • Financial Reports for this year filing (If accounting is done from your end)
  • Previous IT filing details (Financial Statements)
  • User ID & password for https://incometaxindiaefiling.gov.in site, if any

Due dates for filing IT return:

July 31: For individuals and firms who are not liable to audit.

September 30: For companies and others who are liable to audit.

March 31: Belated returns for individuals and companies.

You can also access and get notifications for the due dates through Google Calendar.

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