Income Tax Compliance
Income Tax Return Filing
As per the income tax laws, the return must be filed every year by an individual or business that earns any income during a financial year. The income could be in the form of a salary, business profits, income from house property or earned through dividends, capital gains, interest or other sources. According to the tax laws laid down in India, it is compulsory to file your income tax returns in Kerala, if your income is more than the basic exemption limit of 2.5 lakh rupees.
A certified professional to cater to your income-tax return filing requirements will enable you to focus on key result areas of the firm and professional life. It will also save you time and effort involved in return filing & accounting services by enabling you to step away from unnecessary discrepancies and delays. Income tax efiling in Kerala is now hazard free, through the cost effective service offered by Fobup.
Upon collecting all the necessary details and documents, our expert will prepare your computation and call you for further discussion to make you understand what we are doing. Before filing your income tax return, we will share with you the final computation and other documents for verification and to take your confirmation to move further. We help you gain a thorough understanding regarding income tax returns in Kerala and mediate its e-filing. We ensure your confidentiality in its entire process, adhering to effective communication. Services related to Income tax e-filing in Kerala and for people residing in other parts of India as well as are available through Fobup.
Income Tax Advisory Service
We provide carefully planned income tax advisory services to companies, firms and individuals so as to make them free from legal hazards and penalties. We structure and implement the tax planning strategies most effectively according to the client’s facts and circumstances.
Our extensive knowledge of taxation practices and detailed understanding of both international tax law and Indian tax law leaves us expertly positioned to help your business. Our procedures follow globally regarded best practice, and our regular interaction with international tax authorities ensures we maintain this at all times.
Income Tax Appeals
For taxpayers who believe they have been incorrectly or unfairly taxed, there are legal provisions to raise fair appeals regarding penalties and actions taken against them. He/She can appear before the following appellate to raise the concerns:
- Appeal to Commissioner of Income-tax (Appeals)
- Appeal to Income-tax Appellate Tribunal
- Appeal to High Court
- Appeal to Supreme Court
An individual who wishes to submit an income tax appeal must first pay the taxes that they are obligated to pay. The appeal cannot be filed if the taxes owed have not been paid. An appeal has to be filed within 30 days of the notice or order against which the appeal is served. To guide you through different levels of appellate and address the related legal procedures, we have a dedicated team of experts serving as consultants. Contact us to facilitate the return filing and deal with appeals concerning you.
TDS Return Filing
Tax Deducted at Source or TDS is a way of collecting indirect tax by the GOI, as per the Income Tax Act. Both Income and expenditure, including salary, interest from banks, lotteries, rent payment, payment of commissions, and payments to freelancers etc. come under the umbrella of TDS. When payments are made under these segments, a percentage of the entire payment is withheld by the (paying) source. The person who deducts TDS is called deductor and the person whose tax is being deducted is called a deductee. When you make a payment to the Government of India or the Reserve Bank of India, no TDS is collected.
It is the duty of the person who is making payment to someone for specified goods or services to deduct TDS and file TDS return. TDS Statement is a summary of all the transactions related to TDS made during a quarter of a financial year. It needs to be submitted to the income tax department quarterly before the due date. TDS return contains details of TDS deducted and deposited by a deductor.
TDS was introduced with the aim of collecting tax from the very source of income. We are well known as a team of professional TDS Return Consultants as we are providing individuals with authentic consultation at nominal prices.