Tax Advisory Services with Web Online CA

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नोट:- ITR दाखिल करने की अंतिम तारीख 31 जुलाई 2024 है अतः अभी अपनी ITR फाइल करे Web Online CA से सिर्फ 2 मिनट मे। वित्त वर्ष 2023-24 (वित्त वर्ष 2024-25) के लिए बिना विलम्ब शुल्क के आयकर रिटर्न (आईटीआर) दाखिल करने की अंतिम तिथि 31 जुलाई 2024 है।
Welcome to the Web Online CA
  • Authorized by Income Tax Department "e-Return Intermediary (ERI)" are entities who are authorized to e-file Income Tax Returns on behalf of taxpayers.
  • Registered with Startup India is duly certified under GOI's Startup India scheme.
  • Supported by iStart (Government of Rajasthan. Initiative for startups).
  • Supporting Government Making India Digital.
  • Assistance in e-Verification of the Filed Returns.

Pricing Summary

  • Web Online CA Fee
    Rs. 398/-
  • Complete By*
    20-Jul-2024

Documents Required

  • itr filing Form 16
  • Online ITR Filing Bank Statement
  • itr filing online Details of Other Income

What is a Nil Return and when should you file ITR? 

A "Nil Return" typically refers to a financial or tax-related document indicating that there has been no activity or transactions to report within a certain period. In the context of taxes, for example, if a taxpayer has no taxable income or expenses during a specific tax period, they may file a "Nil Return" to inform tax authorities that there is nothing to report.

What is a Nil/Zero Tax Return? 

A "Nil Tax Return" is a tax return filed by an individual or entity indicating that they have no taxable income or that their income is below the taxable threshold, resulting in no tax liability for the specified tax period. In other words, it's a tax return that reports zero taxable income or a taxable income below the minimum threshold for taxation.

When should I file a Nil Return?

A Nil tax Return is typically required to be filed when an individual or entity is subject to tax filing obligations but has no taxable income or their income falls below the threshold for taxation. Here are some common scenarios when a Nil tax Return may need to be filed:

Legal Requirement: In many jurisdictions, tax laws mandate that individuals or entities file a tax return annually or periodically, regardless of whether they have taxable income. This is to ensure compliance with tax regulations and maintain transparency in the tax system.

Benefit Entitlements: Filing a Nil tax Return may be necessary to establish eligibility for certain tax benefits, credits, or deductions. Even if no tax is owed, filing a return ensures that taxpayers receive any entitlements they may be eligible for.

Business Entities: Companies, partnerships, and other business entities may be required to file tax returns even if they have no taxable income. This helps tax authorities track business activities and ensure compliance with tax laws related to business operations.

How to we file Nil Return Online?

  • The following documents required before filing the Nil ITR - PAN, Bank account details. Salary details, Aadhaar, Form 16, and Investment details.
  • Visit the income tax department’s ITR filing website/page and log in using your registered user ID/Password.
  • Select e-filing option
  • Enter your income details and deductions. Income tax is computed, and you will be shown that you have no tax due.
  • Now your Income tax will be automatically computed and it will display that you have no tax liability.

Click here to know more about How to e-file ITR?

Benefits of filing Nil ITR

Filing a Nil Income Tax Return (ITR), which indicates that you have no taxable income to report, can offer several benefits:

Avoiding Penalties: Failing to file a required tax return can lead to penalties and fines. By filing a Nil ITR, you prevent the risk of incurring such penalties, demonstrating your adherence to tax regulations.

Establishing a Tax Record: Filing a Nil ITR helps establish a record of your tax compliance with the tax authority. Having a history of consistently filing returns, even when you have no taxable income, can be beneficial for future tax-related matters or inquiries.

Proof of Income Status: A Nil ITR serves as documentary evidence that you had no taxable income during the relevant tax year. This can be useful for various purposes, such as applying for loans, visas, or government benefits, as it verifies your income status.

Availing Tax Benefits: In some cases, certain tax benefits or credits may require individuals to file a tax return, even if they have no taxable income. Filing a Nil ITR ensures that you remain eligible for any potential tax benefits or credits that you may be entitled to receive.

Peace of Mind: By filing a Nil ITR, you fulfill your tax obligations and can have peace of mind knowing that you've completed this responsibility, even if you didn't have any taxable income to report.

Avoiding Future Issues: Regularly filing Nil ITRs prevents potential issues with tax authorities in the future. It establishes a clear record of compliance and reduces the likelihood of audits or inquiries into past tax periods.

Overall, filing a Nil ITR is a proactive measure to maintain compliance with tax laws, avoid penalties, and establish a clear record of your income status with the tax authority.

FAQ's

What are the advantages of e-filing?

E-filing is a fast, convenient, secure, and sometimes free way to file taxes. E-filing is processed quickly, even if you wait until the last submission date.

If you file electronically and direct deposit your refund, the funds will be transferred to your bank account within a few days of receiving and processing your return. If you have a balance, you can pay by direct debit. And with e-filing, you don't have to worry about making mistakes, as errors are corrected immediately.

How does Online Income Tax Return Filing work in India?

Taxes imposed on the income of individuals, corporations, and other legal entities are formally called income taxes. There is no uniform tax rate for all income ranges, and it varies by industry and region, and in some cases, lower incomes are eligible to pay income tax.

There are two types of taxes: direct and indirect. A direct tax is a tax that is collected directly from the taxpayer, whereas an indirect tax is a third-party tax such as a value-added tax.

An Indian Income Tax Return (ITR) is a form for filing income and tax details with the Income Tax Authority. The tax eligibility of the taxpayer is calculated based on income. Sometimes, taxpayers are bound to get refunds from the Income Tax Department if their income tax returns show excess tax paid during the previous year.

All registered taxpayers with taxable income must file their Income Tax Returns online. However, people over 80 who do not have income from regular business or profession can also file paper returns.

 What is a GST return, and how many GST returns are filed?

GST Return is a document giving details of income that a registered GST dealer must submit to the Government of India's tax authorities. This return confirms the payment of the registered GST dealer and calculates the tax liability.

GST returns are filed monthly or quarterly, or annually by GST-registered dealers depending on the nature of the business and whether there is an option to file returns monthly or quarterly. 25 GST returns should be filed in a year.

Taxpayers who have opted for Quarterly Return and Monthly Payment Plan (QRMP) must file eight quarterly returns and one annual return. Hence, 9 GST returns are to be filed in a year.

What is the role of a Digital Signature Certificate?

A certificate serves as proof of a person's identity for a specific purpose. For example, a driving license identifies someone legally driving in a particular country. Similarly, a digital certificate may be presented electronically to identify a person, access information and services online, or digitally sign certain documents.

A licensed Certificate Authority (CA) may issue a digitally signed certificate. Certificate Authority (CA) means a person licensed under section 24 of the Information Technology Act, 2000 of India to issue Digitally Signed Certificates.

How do I register for MSME Udyam Online in India?

MSME stands for Micro, Small, and Medium Enterprises. There was no clear definition of MSME till the Atma Nirvana package was announced by the Finance Minister in May 2020. These companies were classified based on manufacturing and service industries. But after the Atmanirbhar package, this distinction between manufacturing and service industries has disappeared. The classification of these companies is currently based on investment and sales. Earlier, this process was known as Aadhar Udyog Registration.

MSMEs can register through MSME Govt Portal only. Users can register for a new MSME through this portal or re-register an already registered Udyami Aadhaar Memorandum Part II (EM-II) or Udyog Aadhaar Memorandum. The Ministry of Small and Medium Enterprises manages and operates this portal, so it is safe and reliable.

What are the benefits of having a FOSCOS/FSSAI License/Registration?

Consumers are becoming more aware of food quality, standards, and hygiene in this information age. It is more convenient for online grocery stores to be personally FSSAI certified before buying anything from outside, as it provides better assurance of food quality without contamination or foreign ingredients.

Legal Benefits: Most people still believe that getting a food license is a slow and challenging process with lots of paperwork and paperwork. There is also a need for clarification that getting a food license costs much money.

Use of FSSAI Logo: FSSAI licenses only those businesses that meet minimum hygiene standards. If you have a food sales license, you can display it on menu cards, pamphlets, packaging bags, etc. The FSSAI logo on the food will show the products in the competition.

Business expansion: All newly established companies want to expand their operations to all other places and explore new markets and consumer bases.

Customers should feel comfortable buying new products as they set up their business in recent locations. A valid food license also makes expanding your business to new places or opening new stores easier.

Quality upgrade: An FSSAI License/Registration facilitates the provision of high-quality food products and improves the overall performance of your food business.

What is a Store or Establishment License?

A shop and establishment license is a legal document issued by a state government that allows a business owner to operate legally. This license indicates that the owner has complied with the labor laws, welfare rules, and safety rules related to the store or establishment. Employers can also avail of benefits provided by the government, such as employee wages, insurance, and sick leave.

Who should apply for a Stores and Facilities License?

A store and convenience license is a mandatory registration that all businesses operating at a physical location must obtain. The specific requirements for obtaining a license may vary depending on the state in which your business is located. Generally, companies such as stores, restaurants, hotels, cafes, theaters, and other commercial establishments operating in physical locations must apply for a store and establishment license. Businesses that work from home offices or coworking spaces may also require this license. Standard documents required to obtain a store and facility license include proof of address, identity, and PAN card. Getting a license usually involves completing an application and submitting the required documents to your local municipal or state labor office.

Why is it essential to obtain a trademark registration?

Public Notice of Trademark: A registered trademark is a visible expression of ownership of a brand. Trademark registration also establishes a brand's reputation and lets consumers know that the products or services associated with the trademark meet the brand's quality and control standards. It is an acronym that helps consumers make purchasing decisions by quickly identifying and differentiating their products and services from those of their competitors.

National Validity and Ownership Estimates: Trademark registration applies nationwide and provides a presumption of trademark validity and trademark ownership. Under federal trademark law, all registered trademarks are deemed to meet all critical USPTO registration requirements and have actual requests with the trademark registration owner.

Resistance Against Trademark Infringement: Trademark registration allows us to stop competitors from infringing our trademarks and tells the police how our brands are being used. You can ask the infringer to stop using your marks or use the social media provider or online marketplace to remove the infringing content.

What is company registration?

Before filing for company registration, let us understand the concept of a company. What is a company? A company is a business entity having at least two directors and employees/shareholders. It is a legal business entity established under the Companies Registration Online Rules established under the Companies Act 2013.

So how do you register a company in India? Although the process is simple, it requires the assistance of a company registration service provider. Web Online CA provides end-to-end support, guiding you through every step required to register your company in India.

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