Filing tax return is an exercise for a lot of people that is truly as hectic and painful as having multiple root canals. One of the reasons behind the process being intimidating is unfriendliness of the system especially for the ones who have basic or intermediate knowledge of tax. Even availing tax preparation services with a Chartered Accountant is not completely hassle-free. In order to be organized and equipped when it comes to tax preparation services, you need to have a good understanding of the process.
First, let’s understand should you file returns?
Filing income tax return online is not that intimidating, but you should first understand whether you should file a return or not. People with employers who deduct tax are not required filing tax. For a time being, you have decided to travel to the country, whose visa regulation requires to furnish details, along with filing three years of tax return.
There are also reasons to file a return, apart from job and loan applications. The one being there is a chance that tax which is lying to your credit is more than the tax you have paid and you are eligible to get a refund. But, you will get a refund when you will file a return and there is no greater joy than receiving a refund by paying returns.
It is important to make the efforts to submit returns on time because department has only two deadlines to file the return, one is normal deadline which is four months from the end of the year and one is delayed deadline, which is generally 24 months from the end of the year. It is crucial to file the return before both of the deadlines are missed.
If you have more tax related query, for which you keep on Googling “tax services near me”, feel free to get in touch with us.