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ITR for Business

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ITR (Income Tax Return) for Business refers to the process by which businesses report their income, expenses, and tax liability to the government for a financial year. Filing an ITR is mandatory for businesses to declare their earnings and calculate the taxes they owe, based on their profits.

Pricing Summary

  • GST - Included
  • Government Fee - Included

Need Clarification

ITR for Business

Description Fee (₹) Details
Business person with house property income and other income ₹2,500 Up to ₹40 Lakh turnover, without GST registration and without balance sheet and profit and loss
Business person with house property income and other income ₹3,500 Up to ₹40 Lakh turnover, without GST registration and without balance sheet and profit and loss
Business person with house property income and other income ₹5,000 More than ₹40 Lakh turnover, having GST registration
Business person with house property income, other income, futures and options, and capital gains ₹7,000 More than ₹40 Lakh turnover, having GST registration

What is ITR for Business ?

ITR (Income Tax Return) for Business refers to the process by which businesses report their income, expenses, and tax liability to the government for a financial year. Filing an ITR is mandatory for businesses to declare their earnings and calculate the taxes they owe, based on their profits.

For businesses in India, different ITR forms apply depending on the type of business structure:

1. ITR-3: For individuals and Hindu Undivided Families (HUFs) carrying out a business or profession.
2. ITR-4 (Sugam): For individuals, HUFs, and firms (other than LLPs) who have opted for the presumptive taxation scheme under sections 44AD, 44ADA, or 44AE.
3. ITR-5: For partnerships, Limited Liability Partnerships (LLPs), and other associations not filing under ITR-7.

Filing the correct ITR form ensures businesses are compliant with tax laws and helps calculate the accurate tax liability based on business income and expenses.

Terms & Conditions

  • Govt fee Rs 1000 extra to be borne by the client
  • All tax payments and penalties if any to be borne by the client
  • Stamp paper and notary should be borne by the client
  • This pricing is applicable only if the LLP is not having any assets and liabilities.
  • There will be additional charges if there is BANK ACCOUNT STATEMENT transactions having above 100 entries
  • DINeKYC & DSC needs to be active till the e-filing status of the LLP changes to “UNDER PROCESS OF STRIKE OFF”.
  • Separate forms to be filed with MCA for updating of Registered Office address/mail id & and the add/remove partners (additional charges applicable).
  • LLPs must file FORM-3 within 30 days of incorporation. Failure to do so incurs a penalty, which must be paid before filing FORM-24 for closure of LLP with the MCA.
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