Business Tax Return Filing

Every business in India is required to file an income tax return each year. In addition to filing an income tax return, a business may be required to file a TDS return and pay advance tax in order to remain in compliance with the Income Tax Act. mybusinessfilings is India's largest tax services platform, providing services such as incorporation, GST return filing, income tax filing, and more. mybusinessfilings can assist you in filing your business's income tax return and ensuring compliance with the Income Tax Act and Rules. It takes 3 to 5 working days on average to file an income tax return for your business. Schedule an appointment with a mybusinessfilings Advisor to receive a free consultation on business tax return filing.

At Redback, we are continuously available to help you understand how to register a Income Tax Filing.

Proprietorship

Any person having business or professional income of more than Rs.2.5 lakhs per year would be required to file income tax return each year.

Partnership

Partnership firms (registered or unregistered) are required to file income tax return in form ITR 5 each year. Partnership firms attract income tax at the rate of 30%.

LLP

Limited Liability Partnership firms registered in India are required to file Income Tax Return in Form ITR-5 each year and MCA Annual Return.

Companies

All types of companies registered in India are required to file Income Tax Return in Form ITR-6 each year and MCA Annual Return.

Proprietorship Tax Return Filing

Any individual who has business income is said to be operating a proprietorship firm. Proprietorships operating in India are required to file income tax return each year. Since proprietorships are considered to be one and same as the proprietor, the income tax return filing procedure for a proprietorship is similar to individual income tax return filing.

Partnership Firm Tax Return Filing

All partnership firm are required file the income tax return, irrespective of amount of income or loss. Partnership firms are taxed as a separate legal entity under the Income Tax Act. Hence, the income tax rate applicable for partnership firms is similar to LLPs and Companies registered in India.

LLP Tax Return Filing

All LLPs are required file the income tax return, irrespective of amount of income or loss. LLPs are a separate legal entity and are taxed separately from the Partners of the LLP. The income tax rate applicable for LLPs is similar companies registered in India.

Company Tax Return Filing

All companies registered in India are required to file income tax returns each year. Under the Income Tax Act, company tax return filing falls under two categories, namely domestic company or foreign company. Companies registered with the Ministry of Corporate Affairs like Private Limited Company, One Person Company or Limited Company are classified as a domestic company.