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Home > Income Tax > Service Plans > Business Income Tax FilingLast Updated: Feb 14th 2024

Business Income Tax Filing Plan & Pricing

Expert assisted Income tax filing for individual businesses, Tax audit will be performed if turnover is above 10 Crore ( OR if more than 5% of receipts and Payments are made in cash). Rs 10 crore tax audit limit applicable from FY 2021-22 (if 95% of receipts and payments are made digitally). Fast, reliable, affordable, Expert support through Email, phone & chat during the business hours

Service

  • Expert assisted Income tax filing for individual businesses
  • Tax audit will be performed if turnover is above 10 Crores or based on the requirement. * Refer Tax Audit Rule
  • Review of your IT account to look for past Notices
  • Expert support through e-mail, phone & chat during the business hours
Find whether you need a tax audit or not? using Tax Audit Calculator

Who should buy?

  • Individual businesses who needs Business Filing along with Profit and Loss statement

Process

  • Upon receiving the documents, our expert will call you before starting the process
  • Expert team will exchange the information through email and phone calls, if necessary.
  • Team will send you the Draft Computation Sheet for further review
  • Once confirmed, team will e-File your return, and send you the ITR-V acknowledgement
  • Estimated Processing Time: depends on availability of information per audit requirement, generally within 7 days
  • Estimated Processing Time: without Audit 1 Day

Documents to be Submitted

  • Income Tax Portal Credentials OR PAN Number and Date of Birth.
  • e-mail ID & Mobile Number.
  • Bank Statement for the FY
  • Business or Profession Details
  • Business Expenses, Business Loan, and Books of Accounts (if available)
  • Investments, Sales, Purchase, and loan details
  • Any other incomes, Investments or Savings details

Other Benefits

Every Service comes with the benefits such as

  • e-File & PDF Report
  • e-Verification Assistance
  • Post Service Follow up

Important Links

BUSINESS FILING
from Rs.3990
Actual Price  Rs.  4200 (  -5% Offer ) Use Discount Code A713864

with tax audit from   Rs. 12800/-

Actual Price  Rs.  16000 

(  -20% Offer ) Use Discount Code A492147

Individual businesses, Tax audit will be performed if turnover is above Rs. 1Cr / 5Cr / 10 Cr*. * Refer Tax Audit Rule


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Business Income IT Filing FAQs

A comprehensive list of frequently asked questions on Business Income IT Filing.

1.What is the due date for Filing Income Tax returns for individuals with business?

The due date for filing Income Tax Return without audit is July 31st every year. If Audit is required, then the due date is 30th September (subject to changes as per the latest circulars). Refer Comprehensive Tax Calendar for the latest dates

2.Who is liable for Tax Audit?

Every Business whose turnover is more than Rs 1 crore / Rs 50 Lakhs in specified business is required to get Tax Audit.

 Update: Starting from FY 2020-21, the threshold limit, for a person carrying on business, is increased from Rs. 1 Crore to Rs 5 Crores for FY 2020-21 and Rs 10 Crores from FY 2021-22 in case when the cash receipt and the payment made during the year does not exceed 5% of the total receipt or payment, as the case may be. In other words, more than 95% of the business transactions should be done through banking channels (read as traceable electronic channels) to avoid tax audit.

3.How can I send documents ?

You can send the soft copies of the required documents to support@eztax.in or upload the documents on EZTax Website.

4.What is the Draft computation sheet ?

It is nothing, but your income tax computation sheet prepared by EZTax. In other words it is summary of your income tax computation details.

5.How to give confirmation to draft sent by EZTax ?

After receiving draft from EZTax.in through mail, you can revert to that mail with your opinion to proceed further.

6.What is ITR-V acknowledgement ?

ITR-V stands for Income Tax Return Verification Form. You will receive ITR-V when you file your Income Tax return online.


Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.