Business Income Tax Return (ITR) Filing Online

Setting up and running a business requires not only operational efficiency but also strict compliance with tax regulations. Filing an Income Tax Return (ITR) is a fundamental responsibility for every business, serving as a detailed record of its earnings, expenses, and financial position.

At Taxation Point India, we simplify the process of Business Income Tax Return Filing in India. Whether you are a startup, a growing enterprise, or an established company, our expert team and advanced compliance solutions ensure that your ITR filing is accurate, timely, and hassle-free.

What is a Business Tax Return?

A business tax return refers to the filing of an income tax return on behalf of a business entity. It includes complete disclosures of:

• Income
• Expenses
• Assets and liabilities
• Loans, creditors, and debtors
• Tax obligations such as Tax Deducted at Source (TDS)

Filing this return annually not only fulfills a statutory requirement but also acts as a financial statement, establishing credibility and transparency for the business.

Why File a Business Income Tax Return?

• Refund Claims – Accurate filing enables businesses to claim eligible tax refunds.
• Loss Carry-Forward – Business losses can be carried forward and set off against future profits.
• Loan Approvals – Filed returns strengthen loan and credit applications by proving financial stability.
• Legal Evidence – Proper ITR serves as proof of income and transactions.
• Regulatory Compliance – Avoid penalties and legal complications by staying compliant.
• Audit Preparedness – Filed returns form the base for statutory audits.
• Business Growth – Transparent and accurate reporting helps in strategic decision-making.
• Tax Benefits – Filing before the due date ensures access to all eligible deductions and exemptions.

Who Should File a Business Tax Return?

Filing is mandatory for all business entities operating in India, including:

• Sole Proprietorships
• Partnership Firms
• Limited Liability Partnerships (LLPs)
• Companies (Private Limited, One Person Company, Limited Company)

Types of Business Tax Returns

Proprietorship Tax Return Filing

• Taxed as per individual slab rates.
• Forms: ITR-3 or ITR-4 Sugam (for presumptive taxation).
• Audit mandatory if turnover exceeds ₹1 crore (₹50 lakhs for professionals).
• Due Date: 31st July (non-audit cases) / 30th September (audit cases).

Partnership Firm Tax Return Filing

• Taxed at a flat rate of 30% + surcharge + cess.
• Audit mandatory if turnover exceeds ₹1 crore or professional receipts exceed ₹50 lakhs.
• Form: ITR-5.
• Due Date: 31st July (non-audit cases) / 30th September (audit cases).

LLP Tax Return Filing

• Taxed at 30% + surcharge + 4% cess.
• Subject to Minimum Alternate Tax (MAT) at 18.5% of adjusted income.
• Audit mandatory if turnover exceeds ₹40 lakhs or contribution exceeds ₹25 lakhs.
• Form: ITR-5 (with digital signature).
• Due Date: 31st July / 30th September (audit cases).

Company Tax Return Filing

• Domestic companies taxed at 25% (if turnover < ₹400 crores) or 30% (if turnover exceeds ₹400 crores).
• Minimum Alternate Tax (MAT) at 15% of book profit applies.
• Audit mandatory for all companies.
• Form: ITR-6.
• Due Date: 30th September every year.

Key Points for Business Tax Filing

• Filing is mandatory irrespective of profit, loss, or even NIL business activity.
• Proper ITR filing ensures compliance, loan approval, refund claims, and helps avoid tax notices.
• Businesses must carefully choose the correct ITR form and meet filing deadlines to avoid penalties.

How Taxation Point India Helps You

• Guidance on selecting the right ITR form for your business type.
• End-to-end assistance with preparing and filing returns.
• Audit support and expert tax advisory.
• Compliance monitoring to avoid penalties and late fees.
• Use of advanced tax filing tools for accurate submissions.

With our expertise, you can focus on growing your business while we take care of your tax compliance.

File your Business ITR with Taxation Point India – On Time, Accurate, and Hassle-Free.
Contact us today and make business tax filing simple and stress-free!