Income Tax Filing

Navigating the complexities of income tax filing can be overwhelming, but JVB & Co. is here to simplify the process for you. As leading experts in income tax filing services in Mumbai, we provide comprehensive solutions to ensure your tax returns are filed accurately and on time. Whether you are an individual, a business owner, or a freelancer, our tailored services cater to your unique financial situation, helping you maximize your deductions and minimize your liabilities.

Who is required to File Income Tax Return in India?

Filing an income tax return is mandatory for various categories of taxpayers in India. You are required to file an income tax return if:

Your gross annual income exceeds the basic exemption limit set by the government.
You have earned income from multiple sources, including salary, business, or investments.
You have foreign assets or income.
You want to claim a refund on the excess tax paid or deducted at source.
You are carrying forward a loss under any head of income.
You are a company or a firm, regardless of profit or loss.

Our expert team at JVB & Co. ensures that all your tax filing obligations are met efficiently, providing you with peace of mind and financial clarity.

Consequences of Non-Filing of Income Tax Returns

Non-filing of income tax returns can have serious repercussions, including:

Penalties and Fines: The Income Tax Department may levy penalties for late or non-filing of tax returns, significantly increasing your tax liability.
Interest on Due Tax: Interest is charged on the amount of tax due if returns are not filed within the stipulated time.
Loss of Refund: Failure to file returns can result in the forfeiture of any refunds due to you.
Legal Consequences: Persistent non-compliance may attract legal actions, including prosecution and imprisonment.
Difficulty in Obtaining Loans: Non-filing of returns can adversely affect your creditworthiness, making it challenging to secure loans or credit in the future.

At JVB & Co., we are committed to helping you avoid these consequences by ensuring timely and accurate tax filings. Our experienced consultants are well-versed in the latest tax laws and regulations, providing you with reliable advice and support throughout the tax filing process.

Why Choose JVB & Co. for Income Tax Filing?

Personalized Service: We tailor our services to meet your specific needs and financial situation.
Expert Guidance: Our team of experienced consultants ensures that your tax returns are filed correctly and on time.
Comprehensive Solutions: From document preparation to filing and follow-up, we handle every aspect of your tax filing needs.

For professional and hassle-free income tax filing services in Mumbai, trust JVB & Co. to be your reliable partner. Contact us today to schedule a consultation and experience the benefits of expert tax management.