Filing of Income Tax Returns in India


The Government of every country applies the tax on the specific income for affording its various operations.  It’s known as income tax. There are two types of these taxes, firstly known as direct and second is indirect. Income tax is direct tax.  Indirect tax includes excise, VAT and services tax.

Instead of financing of Government operations, these taxes play an important role to aid in dividing wealth among the whole population of that country.  These taxes make strong the country economically. Income tax payments in India are performed according to provisions applied by Income Tax Act. According to this Indian Tax Act, income from following sources is taxable.

  • House property income
  • Salaries of Specific Amount
  • Profits of profession and business
  • Profits from Capital
  • Income from other sources

Taxes from all these resources are sum up according to Income Tax Act. According to income of an person, tax rates vary in India and these are referred to as Income Tax slabs. During the budget, these rates are revised each year. These taxes are calculated on the yearly basis.  According the law, the Indian financial year starts on 1st of April and end on the 31st March of the following year. Income Tax filing deadlines for the financial year 2017-2018 are following.

  • For non Audit Cases, Last Date of return filing is 31st July
  • For Audit cases, Last date of return filing is 30th September

How Salaried Individuals file their income Taxes

Salaried persons file their income tax returns through form 16. The employer issues this form to the employees. Form 16 contains their income details.

Different types of documents are required for income tax filing. You must need to keep ready these documents before filing the taxes. These documents include investment bills and proofs, Form 16 and Form 16A.


Income Tax Returns (ITR) are the statements and proofs of your income from various sources. These are resources are details of tax paid, liability of tax and other payments that are eligible to receive from the Indian Government.

How to claim the refunds of paid taxes?

If you have paid extra taxes, you can claim refunds form tax departments.  These can be claimed through filing your tax returns. After claiming these returns, you need to track your refunds and make sure your refunds are transferred to your bank account in time.

Late Income Tax returns filing

To avoid the penalties for non- filing of tax returns, you need to file before the deadline.  There are different charges applied by government for individual.

With the e-filing system, It is very easy and simple to file income tax returns. You can easily file Income Tax returns from you office or home at any time.

Understanding the GST Returns

For updating their invoices Indian businesses and taxpayers file certain returns with Indian Government.  In these returns, all transactions are sync to each other. Between sellers and buyers, there are no unattended transactions. Its tale starts form gst return filing GSTR-1.  Whole data is collected in GSTN where it can be accessed by all users at any time.


Trusted Electrician in East Killbride

High electricity bill can be really bothering because it cost you a lot of money, something that’s difficult to afford these days. No matter how you try to use electrical appliances wisely, it won’t significantly reduce the bill. The problem could be the electrical system at your house. It may be too old that it’s no longer able to deliver optimum energy efficiency. What you need is to upgrade the electrical system for better performance.

Old and worn out electrical wiring can cause voltage drop and power loss and not to mention old circuits or light bulbs to make the efficiency even worse. Upgrading and improvement of home electrical system becomes a big necessity. Since it is going to be a big project with even more crucial goal, this can’t be handle by any electrician. The wisest option is to hire the best Electrician East Kilbride and for that you need to hire Mr. Electric. This company is a contractor with expert electrical service. It has been serving clients from East Killbride and surrounding area with top reputation from its high-quality service, friendly staffs, and also very competitive rate.

Mr. Electric is a NICEIC approved electrical contractor thus all services provided are compliant with all technical, industrial, and safety regulations. This contractor has team of highly trained electricians with extensive experiences handling different electrical projects from small household to large industrial scale. You can call this contractor and discuss with the staff about your plan for home electrical upgrade and improvement. The staff will assist you with complete information and provide cost estimation for your project including scheduling home electrical inspection at your place. It is guaranteed you will be satisfied with the rate for the project and even more satisfied once they completed the project. Your home electrical system will be more efficient and the electricity bill will be significantly reduced.

What You Get from Professional Carpet Cleaning Services

Cleaning carpet is hard to do sometimes. You have to consider many things including the material, type of detergent, cleaning tools, and many more. Instead of doing this complicated job by yourself, let the expert helps you. For your recommendation, you may take the services offered by carpet cleaning Christchurch. What they can do for you?

Experience in Carpet Cleaning

This service has over 10 years of experience in carpet cleaning. Each year, they learn more and more so they know what you need as well as the best way to clean your lovely carpet without adding more problems. Experience is not enough without expert team. To make it perfect, this carpet cleaning service is also supported by professional team which can handle your carpet in detail.

Environmentally Friendly Service

Some services don’t really care about their environment as long as they can clean your carpet they will do everything. It is different than this service. They want to satisfy you as well as keep the environment safely. That’s why they only choose environmentally friendly materials and detergents only. As the result, it doesn’t harm your children, pets, and of course the carpet itself.

Fast Drying Process

Waiting wet carpet to dry is time consuming. It will be a problem if you have to use the carpet right away. You don’t need to worry about it anymore. This carpet cleaning service has the latest system which can dry the carpet faster. You don’t have to wait a few days only for waiting the carpet dry! Just wait for a few hours and you are ready to use the carpet just like before.

The Latest Carpet Cleaning Equipment

The process can’t be done well without the support from the latest and powerful carpet cleaning equipment. They know that high tech and effective equipment is the key to clean the carpet perfectly. That’s why they know the detail of the equipment and when to use it. Everything is under control and you will see a clean and smell good carpet soon!

6 Aspects that can sink a new business

When setting up a new business, or trying to improve the working processes of an experienced firm, there are several key aspects that you need to consider to make sure your company is properly protected.

Cash Flow

The saying really is true, Cash flow is king and without proper regular income, a business can sink. It makes sense to have some kind of overdraft facility, however the interest charges alone can hurt your profitability. Depending on the industry you work in, asking for payment up front or a partial deposit can go a long way to cover your costs. It will also help to weed out any potential non-paying customers before you commit to start work for someone, potentially protecting you from significant loss. It will also act as a way to reduce your own personal liability as you won’t have to invest quite as much of your own money into any venture.

Legal Protection

Legal protection is an absolute must. Some industries such as solicitors or personal advisers are legally required to carry professional indemnity insurance. This product is designed to legally cover you and your customer in the event that your advice leads to a detrimental loss for a client. Most businesses that interact with the general public will be required by law to also have Public Liability Insurance as a minimum. Getting advice from a specialist is absolutely crucial, otherwise you could be under-insured which could lead to you being liable for any proceedings undertaken against the company.

Labour costs

Fixed staffing costs are the largest expense of most businesses. Zero hour contracts have hit the news recently and have come under fire for not offering staff the same benefits of rights as full time workers. Another way to reduce the costs of your staffing bill is to consider outsourcing short term work to a freelancer. There are a very good selection of freelancers available on sites like, this includes digital marketing, advertising, IT support, creative writing and graphic design. Whilst you won’t be able to physically see these workers, they work hard and tend to respond quickly to enquiries. A ‘gig’ usually comes with the option of revision, so you can be reassured that changes can be made to work that you are unhappy with.


Refunds can play havoc for any industry, having to pay back revenue that may have been invested elsewhere can be a big problem. You may want to consider setting aside a contingency pot of money that you can use for refunding business. This way, you will be able to reinvest revenue back into the company with a reduced risk of having to source finance to credit a customer.


Variable overheads such as energy, telecoms and insurance can often catch businesses by surprise. In all three situations it pays to shop around. Energy prices can fluctuate on a daily basis, so making sure you are on the right tariff is essential. When your business insurance renewal comes around, it’s really important to go back to the market and try and get a better deal. Insurers rely on new business, so you can leverage this to get yourself a great deal. Old insurance policies tend to stagnate with out of date terms & conditions and offer poor value, so it makes sense to change insurer. Speaking to a specialist adviser can also ensure you have the right level of protection for the industry that you are in.

Marketing Budgets

marketing budgets are on the rise and are recognised one of the most difficult elements of a business to get right. For some, this can be the expense that sinks a company. Advertising effectively can end up costing a fortune, especially if you are looking into open ended methods such as Adwords. Digital campaigns can quickly generate significant costs, as they are usually dependent on how many ‘clicks’ you may get on chosen keywords that a business may target. You may want to ensure that you place an upper limit on any campaign, a cap on advertising spend is the only way to advertise safely. Other more predictable options such as display marketing would be worth considering. In more recent years, facebook advertising has proven to be very cost effective, you can also join local sales groups just like Daisy and Baby did, they started their business purely by posting in local for sale groups on facebook.

It can take months of trialling various options and strategies to find out what works for you, every business is different so make sure you don’t waste too much money during this testing phase – work out an affordable budget and stick to it.