Filing of Income Tax Returns
You can file your Income Tax Returns (ITR) for the Financial Years (FY) 2013-14 & 2014-15 [that is, Assessment Years (AY) 2014-15 & 2015-16] through us. You must have received your Form 16 from your employers or Banks which will give you the details of your income and taxes paid from your employer / Banks. Income Tax return cannot be filed without your Form 16 if you are salaried.
- Form 16 is compulsory to be sent for Income Tax Return (ITR) Filing, if you are salaried.
- We prefer all information through email and documents in scanned form.
- You are requested to send complete documents to us at one go and not in bits & pieces.
- If you are filing ITR through us for the first time, we would compulsorily require your Income Tax website password if you have already created your account on IT website.
- Last date for filing ITR for any Financial Year is 31 July, eg, for the FY 2013-14 (AY 2014-15), the date for filing ITRs was 31 July 2014. However, for the current AY (AY 2015-16 corresponding to FY 2014-15), the last date has been extended to 31 Aug 2015 due to late release of Tax Return filing forms by the Govt.
- We would be able to go ahead with ITR filing only after receipt of our fee for filing.
FOLLOWING ARE THE IMPORTANT ASPECTS TO BE KEPT IN MIND WHILE SUBSCRIBING TO THIS SERVICE THROUGH US:-
- The email ID for all income tax correspondence at our company will be incometax@smartgrowthfinancials.com
- It is important to file your IT Return at the earliest as the returns / refunds will be processed on first-come-first-served basis with us, as well as with Income-tax department.
- Please send us all the documents preferably as scanned / soft copies. Only if there is some genuine problem in doing so, you may send us physical copies. In any case, please do not send us any originals – only self-attested physical photocopies be sent to us.
PERSONEL DETAILS
Please send us the following Particulars details about you:-
Full Name (as in PAN card) |
Father’s Name |
Date of birth (as in Pan Card ) |
PAN No |
Email ID |
Mobile |
Alternate Mobile No. |
E-filing Password if ITR filed online in the past or created the password ever on Income Tax Dept Website Bank Details (Bank Name, Branch address, Account No, MICR Code,IFSC Code)
Are you getting any Other Allowence or Technical Allowance / Technical Pay? If yes, how much total did you get in FY 2014-15
Have you undertaken any expenditure on account of preventive health check-up for self, spouse, dependent children and parents.
Note: Under the new IT Section 80D (applicable from this AY onwards), an amount of Rs 5000 per year is eligible for deduction from gross salary provided you have the requisite receipts if required to be produced later to IT Dept.
INVESTMENT DETAILS
Form 16 or TDS Certificate
Income not in Form 16: Nature & Details of Income not included in Form 16 (Income from Salary, Pension, House property, capital gains etc during the period).
Bank Interest: Interest on Bank FD or SB a/c (Bank statement) during the year
COMPUTATION OF CAPITAL GAINS OR LOSS FROM PROPERTY / STOCKS / MUTUAL FUNDS
- Details of securities / shares held as on 31st March (last day of the Financial Year) (at 5.30 pm) and as on 01st April (first day of the Financial Year) (at 9.00 AM) – Name of script, date of purchase, quantity & amount paid for each purchase is required.
- Complete details of securities / shares purchased or sold during the entire Financial Year. Details to include date of sale / purchase, quantities sold / purchased, amount paid / received and additional amount paid are required.
- Details of carried forward loss as per last tax return. Please send complete details. If you send only selected transactions, return will be kept pending till complete details are received.
Computation of Capital Gains from Sale of a Property:
Complete details of the property sold during the complete financial year – date and amount of purchase, improvements done over time with cost and dates, date and amount of sale. If Capital Gains invested somewhere so far.
Home loan details with Principal & interest amount:
Scan of Loan Certificate required from Loaning Agency, along with address of the property on which loan taken. Please remember that the deduction of house loan Interest (even for period prior to year of possession) is available only to the owner(s) and only after taking physical possession of the concerned House
- If there is a Rental Income from house : send the details of Name & PAN of tenant (if available), Rent (direct to bank or cheque) received, details of municipal taxes paid & society maintenance charges paid during the FY 2014-15
Savings/Premium details under IT Section 80C:
Life Insurance/ Tution Fee for Children / Any Infrastructure Bond /Medical Insurance / PPF / EPF / NSC / ELSS, etc, Maximum rebate allowed is Rs 1.5 lakh.
- The above details have to be given separately, i.e., how much contribution made to each of Life Insurance, Medical Insurance, PPF, EPF, ELSS, Tuition Fees etc.
Advance Tax: Details of any Advance tax or self assessment tax paid during the year other than what is already reflected in your Form 16 (Send the challan copy or the details of BSR Code, date of deposit, where deposited, serial no of challan and amount) is required.
MISCELLANEOUS:
- Any Donations made (with name of the charitable institution)
- Education loan details (when taken, from whom, for whom, how much, break-up of interest & principal part for the FY 2014-15.
CHARGES
We would be filing the Income Tax Returns online for our customers and the charges would be as below. The charges are only indicative and may be increased if we find that there is much more work required on your ITR filing than generally visualized in charges below:-
CATEGORY OF IT RETURN AND CHARGES
Individuals with income from Salary/Pension / Rental from a property, Normal HRA calculations …..Rs 1000/-
Armed Forces JCOs/OR (Personnel Below Officer Rank, PBOR) with income from Salary/Pension only and rentals from a property ….Rs 500/-
For Individuals having house property income from more than one house and/or capital gains computation from stocks, mutual funds, property sale etc….Rs 1500/-
Professional Income (With Income Expenditure statement)….Rs 2500/-
Professional Income (With Income Expenditure statement, Capital account statement and Balance Sheet)….Rs 5000/-
For NRIs (for Indian Income, simple tax return)….Rs 2500/-
Q. HOW TO GO AHEAD WITH YOUR INCOME TAX FILING
FOLLOW THE STEPS AS GIVEN BELOW:-
- Keep your documents ready as per the list given above.
- Make the payment for our Professional Fee as applicable to you by any of the following methods. We would start work on your ITR only after confirmation of receipt of our fee:-
(a) By depositing a local cheque OR cash in a local ….(bank Name)………. branch, account number …… nearby to your location in our Account Number favouring ..(our co name)……The cheque should be local to the branch of the Bank where it is deposited. In case an out station cheque is being deposited, Rs 150/- as outstation charges should be added to the cheque amount.
(b) A direct money transfer through ECS/RTGS into our account. Our account details for that purpose are as follows:
Account No. |
Micr Code |
IFSC Code |
PAN No |
Payable to :Bank:MICR Code:IFSCAfter the payment is made, please inform us your payment details by an e-mail to incometax@smartgrowtfinancials.com
- Send the required documents and information by email to us on incometax@smartgrowthfinancials.com and proof of deposit of cheque/DD for our Professional Fee as above for early action on your ITR.
DISCLAIMER
- The Income Tax Return (ITR) is being filed by us on your behalf solely on the basis of the data supplied by you. It will be assumed by us that you have the supporting documents in original or as required by the Income Tax authorities for all the data (income, investments, savings, tax payments etc) that you send to us for filing your IT Return. Its correctness also remains your sole responsibility. In case of any enquiry from Income Tax Dept, you would be required to produce such proofs as no attachments are allowed with IT Returns filed online.
- We are fully responsible for correct filing of your ITR on the basis of your given data and our role is limited to that function. We have no role or influence in getting your refunds timely, early or at any stage since the ITRs are being filed online. In fact, the timeliness of refunds, if any, largely depends on your ITR Acknowledgement (ITR-V) reaching Central Processing Centre (CPC), Bangalore early after being signed by you.
IMPORTANT: Please do not send us incomplete documents OR all the financial documents which you have. Please remember – if there is any tax due from you, there would be a penalty per annum if you file your IT Return after 31st July. Also, late returns cannot be revised, once filed. Therefore, please try to send your documents to us at the earliest along with the payment so that returns can be filed by us on time.