Income Tax

Helplinelaw.com brings a special initiative to help you file your tax returns by very competent and expert tax experts. This service is available on our web site and the return can be filed by interaction with our experts by email & other internet based means.

 

In a routine scenario the process will flow as below:

 

 

 

The above process can be completed in a hassle free manner.

Preparing Income Tax Return For A.Y 2008-09

FOR PREPARING INCOME TAX RETURN FOR A.Y 2008-09 (I.E. RELEVANT TO FINANCIAL YEAR 2007-08) FOLLOWING INFORMATION IS REQUIRED.

  1. BASIC INFORMATION 
    1. Copy of PAN CARD 
    2. Residential Address/Office Address
    3. Detail of Bank Accounts
      • Name of the bank
      • Account Number
      • Branch
      • MICR No.
    4. Acknowledgement of   Last Income tax return
  1. SALARY INCOME

Detail of Salary Received from all Employees copy of Form 16 required

  1. INCOME FROM HOUSE PROPERTY
    1. Whether you own any house property?
    2. Details of House Property
    3. Give Complete Address
    4. If rented: Give details- (Name of tenant ,rent received during the year House tax paid, Interest paid on loan for the property)
    5. If self occupied: Give detail of interest paid on the said property.
  1. INCOME FROM CAPITAL GAINS
    1. Details of Capital Gains arising out of
    2. Sale of Shares or  Redemption or switching of units of Mutual funds or
    3. Sale of any Capital asset
    4. Give detail  in the following format:

Detail of Purchases  

Detail of Sale

Date of Purchase

QTY  

Value

Date of Sale

QTY

Value

STT Paid








                              v.            Whether there is unabsorbed Loss under head 'Capital Gain': Give Details

  1. INCOME FROM OTHER SOURCES
    1. Interest Credited by the bank in saving bank Account
    2. Interest on Fixed deposits with any Bank (Certificate from Bank/TDS Certificate may be furnished)
    3. Interest on Deposits, Securities, Bonds, (TDS Certificates on the Interest Income, if any)
  1. Detail of Any other Income/Receipts not covered above
  1. DETAIL OF INVESTMENTS MADE (If not reflected in Form 16):
    1. Under Section 80C (Provident Fund, Insurance Premium, Equity Link Saving Schemes, National Saving Tuition Fees of Children etc.)
    2. Mediclaim Premiums
  1. OTHER MANDATORY INFORMATION

Please furnish the following information:

                                i.            Cash Deposit in excess of Rs. 10 lakhs in saving Bank Account (Date & Amount)

                              ii.            Payment made against Credit Card aggregating to Rupees two lakhs or more during the year

                            iii.            Purchasing Mutual funds in excess of Rupees two lakhs during the year. (Mutual fund wise/Scheme wise)

                            iv.            Payment of an amount of Rupees five lakhs or more for acquiring bonds or debentures of a Company or Institution

                              v.            Payment made of an amount of Rupees One lakh or more for acquiring shares issued by a company

                            vi.            Purchase of any immovable property valued at Rs. thirty lakhs or more

                          vii.            Sale of any immovable property valued at Rs. Thirty lakhs or more.

                        viii.            Payment made for investments in bonds of Reserve Bank of India of an amount of Rupees five lakhs or more during the year.

  1. If any other information you would like to disclose.

The returns shall be prepared and filed on the basis of above information furnished. We will not be held responsible for any mis declaration or non disclosures.

 

The following steps will be involved.

                                i.            The Client Passes on the Information as stated above to ILO alongwith the fees.

                              ii.            ILO on receipt of the fees forwards the Information to SKB alongwith Clients e mail ID for correspondence.

                            iii.            SKB prepares the Return and intimates the tax payable to the client & ILO.

                            iv.            The client can either make the cheque payment directly in favour of the ITAX department and deposits it with the designated bank or send it to us so that we may deposit on his behalf. (Timing is essential need 3 days for getting the cheque cleared)

                              v.            Client gives the challan details in case he deposits the payment.

                            vi.            The return is filed electronically and the provisional receipt is sent to the client. After signing the same he can either file it directly with the Income Tax Department within 15 days or if it is in the NCR he can courier us the signed copy which will be filed by us.

                          vii.            After filing the copy with the Income tax department we will send him the copy of acknowledgement along with the computation of taxable income.

Strict confidentiality will be maintained. The disclosures have to be highlighted so that we do not have any legal issues.

 

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