Why Choose Radhe Services ?
Data Security & Privacy
Radhe Services gives your financial data top priority in this age of digital threats. Radhe Services offers a secure environment for managing sensitive tax information by utilizing strong encryption and stringent privacy standards.
Time & Cost
Efficiency
Radhe Services dramatically cuts the time and resources typically used for this task by streamlining the tax filing procedure. Both individuals and companies can directly save money as a result of this efficiency.
Transparency and Reliability
We practice transparency and reliability above all with open communication, ethical processes, and no hidden objectives. With MTC, you can confidently handle taxes, knowing that your tax returns are in capable hands.
Our Services ?
Benefits of E-Filing Your ITR
Effortlessly file your tax returns and enjoy a hassle-free tax season with e-filing
Claim Tax Refund
If you have paid more income tax, you are eligible for a tax refund
Avoid Late Filing Fee
A delay in filing ITR makes you liable to pay a fee of up to 5,000 INR
Obtaining Visa
Foreign consulates may ask you to furnish your income tax returns for obtaining Visa
Easy Loan Approval
The income tax return serves as an important document for loan approval
Our Values
We are devoted to empowering Indian taxpayers to file their Income Tax Returns effortlessly. At Radhe Services, we achieve it by upholding numerous core values that also define our approach to tax compliance and customer satisfaction.
Transparency
We at Radhe Services maintain open communication with our clients at all phases, ensuring they are informed about every step of the tax filing process.
Expertise
RS’s team of experienced tax professionals stay upto date with current tax laws and regulations to provide accurate and timely solutions.
Customer-Centricity
Our primary focus is on delivering exceptional customer service to make sure that our clients receive personalized support and guidance throughout the tax filing process.
FAQ's on ITR
E-filing of Income-tax returns is the process of filing Income-tax online. As per the income tax department, income tax returns can be filed through the online method only. However, the super senior citizens filing ITR using Form 1 or Form 4 are allowed to use the offline or paper mode.
E-filing of Income-tax returns can be done easily and quickly in the comfort of your home or office in just 4 minutes with Radhe Services. Or you can simply visit the Income Tax e-filing portal You can learn both processes here.
Every Individual, including an NRI, must file an Income tax return where Gross Total Income exceeds the basic exemption limit. For old tax regimes, this basic exemption limit is 2.5 lakh and for new tax regime, this basic exemption limit is 3 lakhs for the individual filing income tax return. Senior citizens (individuals aged 60 years or above but less than 80 years) and super senior citizens (individuals aged 80 years or above) are required to file an ITR if their gross total income exceeds Rs. 3 lakhs and Rs. 5 lakhs, respectively, in a financial year.
ITR filing is important for those cases also where the income is below the exemption limit for the following conditions:-
- Deposited an amount or aggregate of over Rs.1 crore in one or more current accounts maintained with a bank or a cooperative bank.
- Incurred an aggregate expenditure of over Rs.2 lakh for yourself or any other person for traveling to a foreign country.
- Incurred aggregate expenditure over Rs.1 lakh towards payment of electricity bill.
- The sales turnover of a business exceeds Rs 60 lakh during the year.
- Total professional gross receipts exceed Rs 10 lakh during the financial year.
- Total TDS or TCS exceeds Rs 25,000 during the financial year. This limit is Rs. 50000 for senior citizens.
- The amount deposited in one or more savings accounts is Rs 50 lakh or more during the financial year.
If an individual misses the due date while filing their Income Tax Return (ITR), they may still file a belated return. The belated return can be filed by 31st December of the relevant assessment year (unless extended by the government). For FY 2022-23, you may file the belated return by 31 December 2023.
However, please note a belated return can only be filed with the payment of late fees u/s 234F, subject to certain conditions.
You can e-file your Income Tax Return even if you do not have Form 16. Salary slips also contain the details of the deductions, which can be used in case Form 16 is unavailable. FORM 26AS and AIS/TIS are mandatory documents to file Income Tax Returns.
If a taxpayer fails to file their Income Tax Return (ITR) by the due date, they may be liable to pay penalties and interest. The penalties for non-filing or late-filing of ITR in India are as follows:
- Late filing fee: If a taxpayer fails to file their ITR by the due date, they may be liable to pay a late filing fee of up to Rs. 10,000, depending on the delay in filing. The late filing fee for belated ITR, i.e., ITR filed after the due date but before December 31st of the relevant assessment year, is Rs. 5,000. For returns filed after December 31st, the late filing fee increases to Rs. 10,000.
- Interest on tax liability: If a taxpayer has any outstanding tax liability, interest will be charged on the amount due from the due date of filing until the date of payment. The interest rate is currently 1% per month, calculated from the due date of filing until the date of payment.
- Loss of certain benefits: If a taxpayer files a belated return, they may lose certain benefits, such as the right to carry forward losses, etc. And in case of failure to file ITR at all, they will not be able to claim TDS refunds, if any.
- Prosecution: In case of a willful failure to file ITR, the taxpayer may be subject to prosecution under Section 276CC of the Income Tax Act, which can result in imprisonment and/or fine.
Once you are done with e-filing of income tax return, you must:-
- Check your inbox for the provided email id. You will receive an intimation for successfully filing your Income Tax Return and ITR-V (Acknowledgement) attached to the email.
- With a new notification, a revised ITR can only be filed if your original ITR is verified.
- Cross Check all figures thoroughly in your filled ITR form or ITR-V for errors, mistakes, etc.
- Verify the income tax return within 30 days of filing, as Income Tax Return is processed only when ITR is verified. If you fail to verify the return, it will not be considered filed or processed by the Department. You will lose out on income tax refund (if any), etc. Also, you will have to file a new return from the beginning. Read more here.
- If you have a refund in your tax return, you shall receive the same in your bank account within the next few days. It is better to keep tracking your refund status so that you get all the important updates from the department. You can keep checking the refund status from here.
Note: Verifying ITR is an important step. The Income Tax Department will not process your filed Income Tax return unless it is verified . The time limit for verification of Filed Income Tax returns is 30 days. Previously this time limit was 120 days. This new rule is applicable for returns filed on or after 1st August 2022. If you have not verified your tax return, it shall be considered “Invalid,” i.e., null and void. It means that no Income Tax Return has been filed at all.
Have Questions ?
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