Company registration in Navi Mumbai

FILING OF INCOME TAX RETURN BY PROFESSIONAL


Package is best suitable for Doctor, Lower, Engineer, Architectural Profession, Artist, Technical Consultant Etc.


  • Error Free Filing

  • Expert Assistance

  • Guidance By Expert For Tax Planing

  • Tax Saving Advice

  • Refund Tracking



INCOME TAX FILING FOR PROFESSIONALS

Income Tax filing for professional person like Doctors, Lawyers, Interiors decorator, Artist etc. is very important and should be very careful and consider so many aspect during filing.
If professional having receipt less than Rs. 50 lacs must adopt section 44ADA where their Income calculate on presumptive basic as @50% of receipt consider as net profit and if professional think that their Income is below 50% of receipt than they have to get their account audit and net profit or loss as per audited account tare consider as net profit or loss and then need to pay tax accordingly.
We make my filing team have team of tax professional who guide accurate tax filing procedure and provide hassle free tax filing services

Income-Tax-For-Professional


OUR BEST AND TRANSPERENT PRICING PACKAGE

BASIC PACKAGE
2499/-(All Inclusive)
  •       Plan Covered

  •       Plan Covered

  •       Income From Profession

  •       Presumptive Income based on           receipt

  •       Salary Income

  •       Interest Income

SILVER PACKAGE
6999/-[For Income Above 50 Lacs]
  •       Plan Covered

  •       Everything Covered in Basic            Plan

  •       Data Entry up-to 250                       Transaction

  •       Preparation of Balance sheet            and Profit & Loss Account

  •       Best Advice to optimum Tax

  •       ** Tax Audit Fees not covered            here

GOLD PACKEGE
9999/-(All Inclusive)
  •       Plan Covered

  •       Everything Covered in Basic            Plan

  •       Data Entry up-to 400                       Transaction

  •       Preparation of Balance sheet            and Profit & Loss Account

  •       Best Advice to optimum Tax

  •       ** Tax Audit Fees not covered            here

MANDATORY DOCUMENTS FOR TAX FILING FOR PROFESSIONAL

Bank Statements for Relevent Period

Income Receipt Details

Expenses Details

Invoice and Vouchers


Minimum Requirement

Nature of Business and Profession

Provisional Income and Expenses Statement

Deduction and Exemption Details as Per Income Tax

Any other Income to be Disclosed


PROCEDURE FOR FILING OF RETURN

Submit The Details By Client
Review The Details & Documents
Preparation of BS, P&L and
Upload and Verify ITR
Share The Documents With Client
Get Acknowledgement


The presumptive taxation scheme of sections 44ADA can be adopted by a person resident in India who is carrying on specified profession whose gross receipts do not exceed Rs. 50 lacs in a financial year. Following professions are specified profession:

  1.  Legal
  2. Medical
  3. Engineering or architectural
  4. Accountancy
  5. Technical consultancy
  6. Interior decoration
  7. Any other profession as notified by CBDT

     

In case of professionals who are adopting the provisions of sections 44ADA, income will be computed on presumptive basis, i.e. @ 50% of the total gross receipts of the profession.
However such person can declare income higher than 50%.
In other words, in case of a person adopting the provisions of sections 44ADA, income will not be computed in normal manner but will be computed @50% of the gross receipts

No, a person who adopts the presumptive taxation scheme is deemed to have claimed all deduction of expenses as per act.
Any further claim of deduction is not allowed after declaring profit @ 50%. However the assessee can claim deduction under chapter VI-A

 

Any person who opting for the presumptive taxation scheme under sections 44ADA is liable to pay whole amount of advance tax on or before 15th March of the previous year.
If he fails to pay the advance tax by 15th march of previous year, he shall be liable to pay interest as per sections 234B and section 234C.
Note: Any amount paid by way of advance tax on or before 31st day of March shall also be treated as advance tax paid during the financial year ending on that day.

In case of a person engaged in a specified profession as referred in sections 44AA(1) and opts for presumptive taxation scheme of sections 44ADA, the provision of sections 44AA relating to maintenance of books of account will not apply.
In other words, if a person opt for the provisions of sections 44ADA and declares income @50% of the gross receipts, then he is not required to maintain the books of account in respect of specified profession.

A person have option to declare income at lower rate (i.e. less than 50%), however, if he does so, and his income exceeds the maximum amount
which is not chargeable to tax, then he is required to maintain the books of account as per the provisions of sections 44AA and has to get his accounts audited as per sections 44AB.

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Testimonial

I am MD of YRSK Marketing and Branding Solutions Pvt. Ltd., we associated with make my filing team from last 5 year. I realise that as an entrepreneur we need a reliable partner who look after all the accounting tax and compliance part effectively as today lots of compliances need to full fill for companies. I proud to say that make my filing team is very efficient, sincere and accountable and due to them I can say that I can fully concentrate in my business growth.

Anamika Dixit

YRSK Marketing and Branding Solutions Pvt. Ltd.
I am MD of Ehard Services private limited, we associate with makemyfiling from last 4 year, really their services is very good and their people cooperative and responsive and as an business owner I got my services on time and really impress from their services and this is perfect team for start-up entrepreneurs.

Mr. Deepam Rastogi

Ehard Services private limited