Not Sure How to File Your Taxes? We’re Here to Help
Taxes can be a very complicated subject, especially if you’re doing it for the first time. Our individual Personal Income Tax Services in India is here to make your life easier.
Paying Your Taxes in India
As a local, paying your taxes can prove to be a challenge. As a foreigner in the country, paying your taxes can be even more confusing. That is why individual Personal Income Tax Services in India like the ones offered in India were created. Juggling your daily responsibilities is hard work enough. Tring to figure out how to pay your taxes shouldn’t be.
Individual income taxes in India are paid by filling in the ITR 1, ITR2, ITR 3 or ITR 4 forms. The form you fill will depend on the nature of your income. Our team can better advise you once we have more details.
Who Needs to Pay Personal Income Tax?
resident if you have lived in the country for 182 days or more. Alternatively, if you have lived in India for 60 days or more.
The 60 day period stands changed to the 182 days is applicable to the following individuals:
- Citizens of India
- Anyone of Indian origin visiting the country
- Any citizens leaving the country to work abroad as crew members on an India ship
What Gets Taxed?
Personal income tax is applicable to the following sources of income:
- Income derived from property
- Income from other sources
- Profits and gains derived from businesses or a profession
- Any sale of specific investments
- Capital gains
How Much Will I Pay?
Individual income taxes are based on how much you earn:
- Earning 250,000 or less: No taxes
- From 250,001 – 500,000: 5%
- From 500,001 – 1000,000: 12,500 + 20% of total income exceeding 500,000
- More than 1000,001: 112,500 + 30% of total income exceeding 1000,000
If you have a total income below 5 lakhs, you are eligible for a full rebate. Indian residents are generally taxed based on worldwide income.
Why Choose 3E Accounting
With our years of experience, we understand what a diverse range of customers needs. We know your needs may not be the same as someone else’s. We’ve created our individual Personal Income Tax Services in India to provide an optimal way to file your taxes. Meet all your compliance requirements without the added worry! For more information, contact us today.