Income Tax Mitra

ITR filing 2024 for proprietors, small businesses, Doctors, Lawyers etc in BILASPUR

In the times of fast economic growth, inclusion of proprietors and owners of the small business in the tax system is very much important and thus filing of income tax return by the proprietors of small business is required to provide them a minimum documentation of their business. We at Incometaxmitra, help and guide the proprietors of small businesses in filing of timely income tax return along with preparation of balance sheet and profit and loss accounts. We also help the proprietors of small businesses in preparation of estimated balance sheet and projected balance sheet along with other financial documents for easy financing from the banks.

ITR Filing for Doctors 2024, ITR Filing for Lawyers and professionals 2024 in BILASPUR

ITR for professionals, doctors and lawyers are filed in form ITR-4. We help the professionals, doctors and lawyers in filing their ITR with best method and assist them in maximum tax savings. Our expert tax professionals help the professionals, doctors and lawyers in filing their Income Tax returns and guide them with maximum tax saving processes.

Things one should be aware of before filing ITR in BILASPUR

If the annual gross turnover of the business and profession running by any Individual or HUF who is whether a resident of India or not does not exceed Rs. 2 crore is eligible to file ITR form 4.

What is Presumptive Taxation in BILASPUR

The term "presumptive taxation" refers to a method of computing tax based on an estimate of income or profit. If an individual owns a business with an annual gross turnover of less than Rs. 2 crores, the estimated consideration of his or her income will be determined using the Presumptive taxation plan.

ITR Form

Category

Income from Salary

Income from House Property

Income from Other sources

Income from Business or Profession

Income from Capital gains

Exemption/ Limitation

ITR 4

Individual, Partnership Firm and Proprietor

Yes

Yes

Yes

Yes

 Yes

Gross Turnover upto Rs. 2 crores

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