Income Tax Return Filing Chennai

In India, following persons is required to file an income tax return.

✔ Individuals with a gross total income of more than Rs. 2.5 lakh in a financial year (FY).

✔ Individuals who are 60 years of age or older and have a gross total income of more than Rs. 3 lakh in a FY.

✔ Individuals who are 80 years of age or older and have a gross total income of more than Rs. 5 lakh in a FY.

✔ Companies, firms, and other entities.

✔ Individuals who have incurred losses during the financial year and wish to carry forward those losses to the next financial year.

It is important to note that even if an individual's income is below the taxable limit, they may still need to file an income tax return if they want to claim a refund of taxes paid or if they want to carry forward losses.

Legitmind offer expert services to file Income Tax Return and manage small and medium scale business and legal compliance.

We, Legitmind, have a team of tax experts who are well versed in the Indian Tax Laws and regulations. We assist businesses and individuals with the preparations and filing of their income tax returns.

Outsourcing of income tax return filing can be beneficial for businesses and individuals who do not have the expertise or resources to handle their tax affairs on their own. It can also help them save time and effort, and ensure that their tax returns are filed accurately and in compliance with the applicable laws and regulations.