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Writer's pictureGalactic Advisors

Get a headstart on your Return filing for FY 2019-20. Thank us later!

ITR 1, ITR 2 and ITR 4 are available for e-filing. If you are unsure which ITR you should be using, check out this post.

In simplified terms, below are the available forms


ITR 1

  • Resident Individuals

  • Income upto INR 50 lakh

  • Income from Salary, 1 house property and other sources


ITR 2 Note: Most Non Residents are required to fill this form

  • Resident and Non-Resident Individuals

  • Income salary, house property, capital gains and other sources

  • No income from Business or Profession

ITR 4

  • Resident Individuals, HUF and Firms

  • Income upto INR 50 lakh

  • Business/ Profession income under presumtive scheme.


We strongly recommend those who wish to It'll ensure your return is processed quickly and refund, if any is processed quickly.


If you work with CAs, reach out to them and provide them with your documents. It'll allow CAs also to focus on your return completely before the workload takes over.


We've seen a lot of complaints about other CAs on various social media platforms. Best way to ensure that your CA focuses on your return is to start early!


We can testify from personal experience that we prefer to manage our workload. Your CA will appreciate if you start early and they can focus completely on your return.


Some complaints we've heard recently are that you haven't received the Form 16 from your employers. This should not stop you from starting the process. CAs can compute your income based on salary slips and bank statements, Form 16 can just be used for verification of numbers.


Start early this year and save yourself the last minute headache. If you want our assistance with filing your Income Tax Return, you can contact us here.

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We bring the archaic advisory practice to the 21st Century. Advisors have long been dragged down by their age old practices which just do not hold up in the current business environment.

 

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Book your Income Tax Consultation for FY 2020-21

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