How do I file a professional return fee?

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How do I file a professional return fee?

Yes, you can file the return under Section 44ADA of the Income Tax Act and file through Form ITR-4. The fees being received by you from the company is in the nature of professional fees and not salary.

Q. Do you need professional help in filing ITR?

Filing income tax returns is not very complicated for most people. But taxpayers with complex finances and various sources of income need professional assistance.

Q. How do I file a professional return?

For professionals, Government has introduced a new scheme of presumptive taxation (Section 44ADA), under which professionals can file their return declaring 50% of their gross receipts (which must be up to ₹50 lakhs) as income, and after deducting section 80 deductions, professionals need to pay tax on balance total …

Q. Do I need a CA to file ITR?

Yes you can file your ITR without the help of CA just like you can take medicines for any illness without consulting a doctor.

Q. How much does it cost to file an ITR?

1500-2000 for the filing depending on the complexity of transactions in your tax returns. The online filing via syndicators like Clear Tax and H&R Block is still lower and costs anywhere between Rs. 500 to Rs. 1000 for filing of returns.

Q. When do you need help from the IRS?

The agency makes itself accessible in multiple ways if you have questions about completing your tax return, want to check your tax refund status, or need help from the IRS for another tax-related purpose.

Q. Who are the best people to contact for tax help?

Jeremy Vohwinkle is a former financial advisor and retirement planning specialist who started a financial blog for Generation Xers. Janet Berry-Johnson is a CPA with 10 years of experience in public accounting and writes about income taxes and small business accounting for companies such as Forbes and Credit Karma.

Q. When do I need to contact HMRC for help?

For simple queries, you can contact HM Revenue and Customs (HMRC). You should also contact them in the first instance if you: can’t pay your tax bill on time. disagree with a tax decision. have additional needs, for example a disability or you don’t speak English.

Q. Where can I get the tax information I Need?

One of the best ways to get the information you need is directly from the IRS website at IRS.gov. You can download virtually any form or publication here. You’ll find a tremendous amount of information right at your fingertips, including answers to frequently asked questions, tax law changes, and even planning calculators.

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How to Use the Tax Return Preparer Directory

Protect yourself by choosing a paid tax preparer with a professional credential or other qualification. To get started, go to https://www.irs.gov/chooseata…

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