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CA & Professional Tax Services - Complete Guide | Loan Engine Guwahati

📊 Income Tax Return (ITR) Filing Services

Complete guide to ITR filing - All forms, deadlines, benefits

Complete ITR Filing Information

Income Tax Return (ITR) is a form in which taxpayers file information about their income and tax applicable to the Income Tax Department. Filing ITR is mandatory for individuals/entities whose income exceeds the basic exemption limit. Even if your income is below the limit, filing ITR has many benefits like loan approval, visa processing, and claiming tax refunds.

Types of ITR Forms

ITR Form	Who Should File	Income Sources	Complexity
ITR-1 (Sahaj)	Salaried individuals, pensioners	Salary, One house property, Other sources (interest)	Simple
ITR-2	Individuals/HUFs not having business income	Multiple house properties, capital gains, foreign income	Moderate
ITR-3	Individuals/HUFs having business/profession income	Proprietorship, professional income, partnership	Complex
ITR-4 (Sugam)	Presumptive income scheme taxpayers	Business (44AD), Professional (44ADA)	Moderate
ITR-5	Partnership firms, LLPs, AOPs, BOIs	All sources except individuals	Complex
ITR-6	Companies (except claiming exemption 11)	All company income sources	Very Complex
ITR-7	Trusts, Political parties, Charitable institutions	Exempt income reporting	Specialized

ITR Filing Deadlines

Individuals/HUFs	31st July
Businesses requiring audit	31st October
Companies	30th September
Revised Return	31st December
Belated Return	31st December (with penalty)

Late Filing Penalties

Income up to ₹5 Lakhs	₹1,000 penalty
Income above ₹5 Lakhs	₹5,000 penalty
Interest on Tax Due	1% per month (Section 234A)
Prosecution (serious cases)	Up to ₹25,000 + imprisonment

Documents Required for ITR Filing

Basic Documents:

PAN Card
Aadhaar Card
Bank account details
Form 16 (for salaried)
Previous year ITR acknowledgment

Income Documents:

Salary slips / Form 16
Bank statements (all accounts)
Interest certificates (FD, savings)
Capital gains statements
Business P&L, Balance Sheet

Deduction Proofs:

80C investments (LIC, PPF, ELSS)
80D health insurance receipts
Home loan certificates (24b, 80EEA)
Education loan interest (80E)
Donation receipts (80G)

Benefits of Filing ITR

Loan Approval: Banks require ITR for loan processing (home, car, personal loans)
Visa Processing: Many countries require 2-3 years ITR for visa approval
Claim Refunds: Get tax refunds if TDS deducted is more than actual tax liability
Carry Forward Losses: Carry forward capital losses for 8 years, business losses for 4 years
Income Proof: ITR serves as income proof for various purposes
Avoid Penalties: Timely filing avoids late fees and interest charges
Quick Processing: Future transactions become easier with ITR history

📋 Complete GST Services

Registration, Returns, Compliance, Advisory

Everything About GST

Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in India. It replaced multiple indirect taxes like VAT, Service Tax, Excise Duty. GST registration is mandatory for businesses with turnover above ₹40 lakhs (₹20 lakhs for special category states) for goods and ₹20 lakhs for services.

GST Registration Services

When is GST Registration Mandatory?

Turnover exceeds ₹40 Lakhs (Goods) or ₹20 Lakhs (Services)
Engaged in inter-state supply of goods/services
E-commerce operators and sellers
Businesses required to pay tax under reverse charge
Input service distributors
Agents of suppliers, TDS/TCS deductors
Non-resident taxable persons

Documents for GST Registration:

PAN Card of business
Aadhaar Card of promoters/partners
Business registration proof
Address proof of business place
Bank account statement/cancelled cheque
Digital signature (for companies)
Photographs of promoters
Electricity bill/Rent agreement

GST Return Filing - Complete Schedule

Return Type	Filed By	Due Date	Frequency	Purpose
GSTR-1	Regular taxpayers	11th of next month	Monthly	Outward supplies details
GSTR-3B	Regular taxpayers	20th of next month	Monthly	Summary return, tax payment
GSTR-4	Composition scheme dealers	18th of next quarter	Quarterly	Summary of supplies & tax
GSTR-5	Non-resident taxpayers	20th of next month	Monthly	Return for NRTP
GSTR-6	Input service distributors	13th of next month	Monthly	ISD return
GSTR-7	TDS deductors	10th of next month	Monthly	TDS return
GSTR-8	E-commerce operators	10th of next month	Monthly	TCS details
GSTR-9	Regular taxpayers (turnover > ₹2Cr)	31st December	Annual	Annual return
GSTR-9C	Businesses with turnover > ₹5Cr	31st December	Annual	Reconciliation statement (audit)

GST Compliance Services We Offer

GST Registration: New registration in 3-5 days
Monthly GSTR-1 & GSTR-3B Filing: Timely filing to avoid penalties
Annual Returns (GSTR-9): Complete annual filing with reconciliation
Input Tax Credit (ITC) Management: Maximize ITC claims
GST Audit & Reconciliation: Books vs Returns matching

Amendment/Cancellation: GST registration modification or surrender
GST Notice Reply: Expert handling of GST notices
Refund Claims: Process GST refund applications
Composition Scheme: Opt for simplified GST scheme
GST Advisory: Tax planning and compliance guidance

🏢 Company Registration Services

Complete business incorporation & registration services

Private Limited Company

Most popular business structure in India offering limited liability, separate legal entity, and easy fundraising. Requires minimum 2 directors and 2 shareholders.

Key Features:

Limited Liability Protection
Separate Legal Entity
Easy to raise funds from investors/VCs
Perpetual succession
Tax benefits on various expenses
Higher credibility and trust

Documents Required:

PAN & Aadhaar of Directors
Address proof of directors
Registered office address proof
Passport size photographs
Digital Signature Certificate (DSC)

Processing Time: 10-15 days | Min Directors: 2 | Min Capital: No minimum

Limited Liability Partnership (LLP)

Hybrid structure combining benefits of partnership and company. Suitable for professionals and small businesses. Requires minimum 2 designated partners.

Key Features:

Limited Liability for Partners
Separate Legal Entity
Low compliance compared to company
No requirement of minimum capital
Flexible management structure
Lower audit requirements

Documents Required:

PAN & Aadhaar of Partners
Address proof of partners
Registered office address proof
Partnership agreement draft
Digital Signature Certificate (DSC)

Processing Time: 15-20 days | Min Partners: 2 | Audit: Above ₹40L turnover

Business Structure Comparison

Feature	Proprietorship	Partnership	LLP	Private Limited
Members Required	1	2-50	2+	2-200
Liability	Unlimited	Unlimited	Limited	Limited
Registration	Simple	Moderate	Moderate	Complex
Compliance	Low	Low	Moderate	High
Fundraising	Difficult	Difficult	Moderate	Easy
Tax Rate	Slab rates	Slab rates	30% flat	25% flat
Audit	If turnover > ₹1Cr	If turnover > ₹1Cr	If turnover > ₹40L	Mandatory
Best For	Solo businesses	Small partnerships	Professionals	Growing businesses