What is Income Tax Filing?
Income Tax Filing is the process of declaring income, tax liability, and deductions to the Income Tax Department of India. It is mandatory for individuals, businesses, and organizations earning above the exempted income limit. Filing income tax returns (ITR) ensures compliance with tax laws and allows taxpayers to claim refunds, deductions, and exemptions.
Why Choose Sarvam for Income Tax Filing?
At Sarvam, we provide hassle-free, accurate, and timely income tax filing services, ensuring maximum tax savings and compliance with Indian tax laws.
Benefits of Income Tax Filing:
✔ Avoid Penalties – File on time to prevent fines and legal issues.
✔ Claim Tax Refunds – Get refunds on excess TDS deducted.
✔ Easy Loan Approvals – Essential for home, business, or personal loans.
✔ Investment & Tax Planning – Maximize savings through deductions under Sections 80C, 80D, 10(14), and more.
✔ Proof of Income – Helps in financial documentation for visa applications, business tenders, and credit approvals.
Types of Income Tax Returns (ITR):
✔ ITR-1 (Sahaj) – For salaried individuals & pensioners with income up to ₹50 lakh.
✔ ITR-2 – For individuals with capital gains, foreign assets, or rental income.
✔ ITR-3 – For professionals and businesses under a proprietorship.
✔ ITR-4 (Sugam) – For taxpayers under the Presumptive Taxation Scheme (PTS).
✔ ITR-5, 6 & 7 – For partnership firms, LLPs, companies, and NGOs.
How to File Your Income Tax Returns?
1️⃣ Gather Income Documents – Salary slips, Form 16, investment details, and other financial records.
2️⃣ Calculate Tax Liability – Apply deductions and exemptions to reduce tax burden.
3️⃣ Online Filing on the Income Tax Portal – Submit ITR digitally.
4️⃣ Verify & Process Refunds – Track refund status and tax compliance.
Ensure a stress-free tax filing experience with Sarvam’s expert tax consultants!