Team KabraVaibhav

Team KabraVaibhav
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File Your Income Tax Return with Ease
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ITR filing in Just 15 Min.* for people having Income from Salary, House Property and Bank Interest
Different Plans for Individual and Business Users
Free First Year ITR Filing** and Special 10% discount on Second Year's Filing

* An Estimated Time | **Applicable Only for Individual Basic Plan . 1st Year Fees will be Refunded after Filing of Second Year's ITR.

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Who can file an income tax return (itr) with

TEAM KABRAVAIBHAV

  • Individuals having Income from Capital Gains (mutual funds & stocks), House Property, FD, Interest, etc.
  • Individuals who only have Salary income can file with or without Form-16.
  • Individuals who have income from Business or Professions.
  • Individuals having Foreign Income (Onsite deputation), Foreign Assets, NRI.

Benefits of filing Income Tax Returns

Avoid Late Fees u/s. 234F

You can Avoid a maximum penalty of Rs 10,000 if your total income exceeds Rs 5 lakh, by timely filing Income Tax Return.

Avoid Tax Notices

Taxpayers are often served notices from the IT department for delayed & missed return submissions.

Financial Documentation

Your Tax Return documents are proof of your financial investments and will be useful when you apply for a loan.

Carry Forward your lossess

You can carry forward losses against house property and depreciation.

Tax Refund

You can claim a tax refund; the earlier you file the sooner you will get a refund.

Quick Visa Processing

Most embassies and consulates require you to submit IT returns for the last 3 years.

FILE YOUR ITR with TEAM KABRAVAIBHAV

Let our expert help you to file the ITR with accurate calculations and maximum your tax savings.

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Income Tax Return Filing: An Overview

» What is an income tax return?
 
An income tax return is a form where taxpayers declare their taxable income, deductions, and tax payments. This procedure of filing income tax returns is referred to as income tax filing. While filing, the total income tax you owe to the government is also calculated. If you’ve paid more tax than needed for the financial year, the IT Department will refund the extra money to your account. If you have underpaid taxes for the year, please pay the remaining amount, and then file your income tax returns.
Income tax return form ranges from ITR 1 to ITR 7, used for different types of income. Some forms are longer than the others, and they may need additional disclosures such as balance sheet and a profit and loss statement information.
» Why do you have to file income tax returns?
 
Whether you are a resident Indian or an NRI, filing an income tax return is compulsory, if your total Indian income exceeds Rs 2.5 lakh.
Even if you don’t meet this threshold, it’s a good practice to file or e-file your income tax return. An income tax return is an important document you must produce at the time of availing of a home loan, as it reflects your financial discipline and prosperity as well as shows your capacity to repay a loan.
If you are planning to go abroad for higher studies, or are about to take up a job outside of India, you’ll need at least three years’ filed income tax returns to show as proof of income. People processing your visa application may request your ITR documents to evaluate your financial health, which in return shows that you can support yourself on your own in their country.
» How can you file an income tax return in India?
 
You can file your income tax returns online, either directly on the income tax department’s website or with our help.
Also, note that the due date to e-file your income tax returns for the assessment year 2024-25 is July 31, 2024. In Case your books are required to get audited then the due date to e-file your Audit Report is September 30, 2024, and to e-file, your income tax return is October 31, 2024, for the assessment year 2024-25.
» What are the details required when you’re e-filing your income tax returns?
 
– Produce basic information such as PAN, Aadhaar Card, and current address.
– Details about all the bank accounts you’ve held in the given financial year is mandatory.
– Income proofs like current salary details, income from investments (like FDs, savings bank account), etc.
– Information about all the deductions you’ve claimed under Section 80.
– Tax payment information such as TDS and advance tax payments.
» Is it possible to file Revised, Belated, or Updated Tax Returns?
 
Yes, you can file revised or belated (after the due date) income tax returns online. You can only e-file revised and belated income tax returns within 9 months. The due date for e-file the same for A.Y. 2024-25 is Dec. 31, 2024. You can also file an Updated Return (w.e.f. A.Y. 2022-23) with the payment of taxes at higher rates of interest.
» What’s the next step after you’ve e-filed your income tax return?
 
Once you’ve filed your tax return online, you will see a 15-digit acknowledgment number on the screen confirming your submission. You must then verify your tax return, which you can do by signing or by e-verification through EVC/ OTP.

 

Need Assistance in ITR E-filing? We are here to help

Get an Expert to calculate your tax and e-file your tax return on your behalf.

Individuals not having Business or Profession Income

BASIC

Single Form 16
Multiple Form 16
House Property Income
PF Withdrawal
Saving A/c, Dividends, Exempt Interest
NRE A/c, NRO A/c
FD Interest
Brought Forward Losses
Capital Gain
Foreign Income
Income from Lottery/Gaming
Donation

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REGULAR

Single Form 16
Multiple Form 16
House Property Income
PF Withdrawal
Saving A/c, Dividends, Exempt Interest
NRE A/c, NRO A/c
FD Interest
Brought Forward Losses
Capital Gain
Foreign Income
Income from Lottery/Gaming
Donation

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PREMIUM

Single Form 16
Multiple Form 16
House Property Income
PF Withdrawal
Saving A/c, Dividends, Exempt Interest
NRE A/c, NRO A/c
FD Interest
Brought Forward Losses
Capital Gain
Foreign Income
Income from Lottery/Gaming
Donation

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All Plans Include 
Dedicated Expert & Account Manager for you | Your data reviewed and corrected by Expert | Suggestion on best tax saving options | Post return filing support

Self Employed, Professionals and Free Lancers.

BUSINESS BASIC

Single Form 16
Multiple Form 16
House Property Income
Business Income < 1 cr.
Professional Income < 25 lakhs
PF Withdrawal
Saving A/c, Dividends, Exempt Interest
NRE A/c, NRO A/c
FD Interest
Brought Forward Losses
Capital Gain
Foreign Income
Income from Lottery/Gaming
Donation
Audit Fees and DSC

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BUSINESS REGULAR

Single Form 16
Multiple Form 16
House Property Income
Business Income < 2 cr.
Professional Income < 50 lakhs
PF Withdrawal
Saving A/c, Dividends, Exempt Interest
NRE A/c, NRO A/c
FD Interest
Brought Forward Losses
Capital Gain
Foreign Income
Income from Lottery/Gaming
Donation
Audit Fees and DSC

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BUSINESS PREMIUM

Single Form 16
Multiple Form 16
House Property Income
Business Income < 5 cr.
Professional Income < 1 cr.
PF Withdrawal
Saving A/c, Dividends, Exempt Interest
NRE A/c, NRO A/c
FD Interest
Brought Forward Losses
Capital Gain
Foreign Income
Income from Lottery/Gaming
Donation
Audit Fees and DSC

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 All Plans Include 
Preparation of P&L, Balance Sheet & Account Summary | Dedicated Expert & Account Manager for you | Your data reviewed and corrected by Expert | Suggestion on best tax saving options | Post return filing support

Frequently Asked Questions

» My company deducts TDS. Do I still have to file my tax return?
 
Yes, deducting TDS and filing a tax return are two different things. In fact, you file a tax return to show that you’ve paid all the tax you needed to pay. The income tax return is also a very useful document when it comes to applying for a loan or visa.
» Which income tax return should I select for e-filing?
 
Great question! There are seven forms for A.Y. 24-25: ITR 1, 2, 3, 4, 5, 6, and 7 for each type of tax situation. Honestly, choosing the correct income tax form is a lot of work. This is why if you are e filing with Team KabraVaibhav, we automatically decide the correct income tax return form. You can check for all assessment year wise ITR applicability, here.
» How do I pay taxes to the government?
 
You can pay tax to the government directly on the Income Tax Department website using your net banking account or selected debit cards with challan ITNS-280.

» How can you file an income tax return in India?

You can file your income tax returns online, either on the income tax department’s website by yourself or by taking assistance from our experts. It should be filed within due dates issued by the department.
» Can I file income tax returns for years I missed?
 
Yes, you can file income tax returns for the years you have missed. However, you can file the previous year’s returns u/s. 148 after contacting your Assessing Officer. For A.Y. 2024-25, you can only e-file the income tax returns up to 31st Dec. 2024. No past years’ returns can be e-filed.
» What is ITR-V?
 
ITR-V is a one page document that you receive after e-filing your income tax return. You must either print, sign, and send it to the Income Tax Department or e-verify it via EVC/OTP within 120 days from e-filing your tax return.
» Can I file ITR-1 with exempt agricultural income?
 
You can file ITR 1 if you are an Individuals being a Resident (other than Not Ordinarily Resident) having Total Income up to Rs.50 lakhs, having Income from Salaries, One House Property, Other Sources (Interest, etc.), and Agricultural Income up to Rs.5 thousand (Not for an individual who is either Director in a company or has invested in Unlisted Equity Shares).
» Should I attach any documents along with the return of income?
 
ITR return forms are attachment fewer forms and, hence, the taxpayer is not required to attach any document (like proof of investment, TDS certificates, etc.) along with the return of income (whether filed manually or filed electronically). However, these documents should be retained by the taxpayer and should be produced before the tax authorities when demanded in situations like assessment, inquiry, etc.
» If I have paid excess tax, how will it be refunded to me?
 
The excess tax paid can be claimed as a refund by filing your Income-tax return. It will be refunded to you by crediting it to your bank account through ECS transfer. Don’t make mistakes in mentioning bank details such as account number, IFSC code, etc in the ITR form.
» Is it necessary to file a return, when I don’t have any positive income?
 
You must file your return before the due date, if you have sustained a loss in the financial year and if you want to carry forward it to the subsequent year for adjustment against subsequent years positive income. Loss can be carried forward only if you have filed the return claiming such loss before the due date.
» Who can file the tax returns on the Team KabraVaibhav?
 
As per section 139(1) of the Income Tax Act, 1961 in the country, individuals whose total income during the previous year exceeds the maximum amount not chargeable to tax, should file their income tax returns (ITR).
a. Individuals who only have Salary income or have switched jobs or have Multiple Form 16)
c. Individuals having Income from Capital Gains (mutual funds & stocks), House Property, FD, Interest, etc.
d. Individuals having Foreign Income (Onsite deputation), Foreign Assets, NRI.
» Can someone else can do ITR e-filing on my behalf?
 
You can seek the help of chartered accountants and agencies dedicated to ITR filing. It is wiser not to allow anyone to have your PAN and password in order to prevent any kind of fraud. Also, you can always take assistance from CA to file IT returns. With Team KabraVaibhav you can get an Expert to calculate your taxes and e-file your tax return on your behalf.

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