Individual ITR (Business) refers to the filing of an Income Tax Return for individuals who earn income from business or professional activities, such as freelancers, consultants, traders, or small business owners.
This service includes:
Business Income Reporting: Calculation and reporting of income from business or profession, including sales, receipts, and other earnings.
Expense Management: Deducting eligible business expenses such as rent, salaries, utilities, travel, and operational costs to determine net profit.
Profit Loss Preparation: Preparation of financial statements like Profit Loss Account and Balance Sheet (if required).
Presumptive Taxation Support: Assistance in filing under presumptive taxation schemes (such as Sections 44AD, 44ADA, 44AE) where applicable.
Other Income Inclusion: Reporting additional income such as interest, capital gains, or rental income.
Tax Calculation: Accurate computation of total taxable income and applicable tax liability.
ITR Filing: Selection and filing of the appropriate ITR form (such as ITR-3 or ITR-4).
Compliance Advisory: Ensuring adherence to tax laws and providing guidance on tax planning and record-keeping.
