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Income Tax Return is a form which an individual is supposed to submit to the Income Tax Department of India which contains the information regarding the person's income taxes which are supposed to be paid during the year. The information filed in the income tax return should be related to a particular financial year that starts on the 1st of April and ends on 31st of march of the coming year.

Income can be of many types. Some of the sources of Income are:

- Income from Salaries.

- Profits and gains from business and profession.

- Income from house property.

- Income from capital gains.

- Income such as dividend, interest on deposits, lottery wining etc.

There are 7 types of Income Tax Return forms that are mentioned by the Income Tax Department: ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6, ITR 7.

- ITR 1: This is to be filed by the people having gross income upto 50 lacs from sources like salary, house property, any other sources except wining from lotteries and races.

- ITR 2: This is to be filed by the people who are eligible to file ITR 1 but don’t have any income from profits and gains from business and profession.

- ITR 3: This is to be filed by the people having source of income from profits and gains from business or profession.

- ITR 4: This is to be filed by the people except Limited Liability Partnership who have total income upto 50 lacs and have certain income from business or some profession.

- Points to Remember Before filing Income Tax Return:

1. Choosing the correct ITR form is essential depending upon the taxpayer's residential status and income earned from different sources for accurate and correct filing.

2. There are 2 types of Tax regimes old tax regime and new tax regime, chose according to your benefits. The taxpayers who are salaried can change their regime, which they have already declared to their employer at the time of filing Income tax return.

3. There are also Pre-filed ITR forms. Most of the essential details in this ITR form are already filled so this will aid taxpayers.

4. Once the total taxable income is determined, applicable tax rates are applied to calculate the total tax liability. Before filing the tax return any taxes due on the tax return should be paid including applicable tax rates.

5. In case of change of job during the year, income details earned from previous employer to the current employer.

6. Mandatory filing of an Income Tax Return in certain cases such as

- Payment of electricity bills exceeding over 1 lack.

- Spending of more than 2 lacks on an overseas travel.

We at AAA Techs provide with Income Tax Filling filling which is easy hassle free and spontaneous with the help of our experienced and skilled staff. We will collect necessary information which will be involved in ITR filing and will do the service on time which will be cost effective and will be at reasonable prices.