Income Tax Return Filing Consultants in Chennai

Looking for reliable income tax Consultant services in Chennai? Our experienced Right Man Audit & Taxationprofessionals provide comprehensive and accurate tax filing solutions tailored to your needs. Save time, avoid penalties, and maximize your returns with our expert assistance. Contact us today for a hassle-free tax filing experience in Chennai.

We will discuss about what is Income Tax and how you can file your Income Tax Return. There are few types of Income Tax forms which means different form is for different person or Businessmen or women so before filing Income Tax Return you need to understand the Income Tax Form applicability and then go to file your ITR Filing process. Income Tax is the Tax which Government charge on your certain income and to disclose about your income to the Government is Income Tax filing which is also called ITR Filing.

How to Find ITR Filing Agents in Chennai

If you are looking for Income Tax Return filing Consultant in Chennai, Contact us and our expert will help you to make you understand about your Income Tax and filing process. We at Right Man Audit & Taxation  Firm provide all income Tax filing services for its clients.

Income Tax and Return Filling

Income tax is a tax on earnings, and filing returns involves reporting income, claiming deductions, and calculating taxes owed. The process includes selecting the right form, submitting it by the deadline, and paying any due taxes. Filing ensures compliance, prevents penalties, and may result in tax refunds.

TDS

TDS (Tax Deducted at Source) is a system where tax is deducted by the payer from specified payments (e.g., salary, interest, rent) before making the payment to the payee. The deducted amount is then remitted to the government. TDS helps ensure timely tax collection and provides tax credits to the payee, which can be claimed during income tax filing.

PF and ESI

PF -Provident Fund and ESI-Employee State Insurance are social security schemes in India. PF is a retirement savings plan, where both employer and employee contribute a percentage of the salary. ESI provides medical and disability benefits. Both PF and ESI contributions are eligible for tax deductions under Section 80C and Section 80D of the Income Tax Act.

Income Tax Notice and Resolution

Income tax notice resolution involves addressing discrepancies raised by the tax department, such as underreported income or unpaid taxes. To resolve, carefully review the notice, verify details with your records, and respond within the deadline. If necessary, file a revised return, submit required documents, and pay any dues. Timely resolution helps avoid penalties and legal issues.

Pay Roll Process

The payroll process involves calculating employee salaries, deducting taxes (TDS), and other contributions like PF, ESI, and insurance. It includes verifying work hours, calculating overtime, and applying bonuses or deductions. After calculations, the net pay is processed, and payments are made. Payroll is followed by issuing payslips, filing taxes, and maintaining records for compliance.