Make Your ITR Filing In Dubai Easy With Best Tax Consultants

1. +971 65 278456 saurabhk@alankit.com   Login /  Signup BLOG BLOG Home Blog Income tax Make Your ITR Filing In Dubai Easy With Best Tax Consultants Make Your ITR Filing In Dubai Easy With Best Tax Consultants  Oct 21, 2021  Alankit Have you ever wondered why you should ?le an ITR or what bene?ts you could inculcate from it Learn the use of ITR and why you need to ?le one in UAE. Learn What an Income Tax Return Actually is: An Income Tax Return (ITR) is a form which one ?les re?ecting the information about ones income earned and the tax applicable on it to the Income Tax Department. The information ?led in the ITR should refer to a particular ?nancial year, starting from 1st of April and ending on 31st of March of the next year. The department offers various types of forms till date and the applicability of these forms depend on the sources of income of the taxpayer, the amount of the income earned and the category of taxpayers (individual or company). Income on the basis of which ITR needs to be ?led is as follows: Income from salary Pro?ts from business Income from house property Income from capital gains Income from other sources such as dividend, interest on deposits, royalty income, etc. If one is an Indian resident or an NRI, they need to ?le their ITR if ones income exceeds INR 2,50,000/- during the last ?nancial year. If your status is ‘resident,’ your global income is taxable in India. If your status is NRI, your income which is earned or accrued in India is taxable in India. When the NRIs Should File Their ITR When they want to claim the refund When they have a loss that needed to be carry forward When they want to submit any authority or ?nancial institution When they want to avoid any penalty from income tax department and compliance with tax authorities When they want to incur any loan Even when applying for a visa It Is Bene?cial to File an ITR in UAE To Avoid Interest penalty: To avoid the Penal interest as an impact of not ?ling ITR by due date, as it is charged on Tax Liability Payable, which will lead to double interest. Penalty Fee: If the ITR is not ?led by the due date, then a penalty fee needs to be paid, which varies from 1,000-10,000 and can incur a case of prosecution provisions. Late ITR Late Refund: If one ?les the ITR late then the process will also be delayed, resulting in late processing of ITR in Refund cases. As the ITR are evaluated on ?rst come ?rst serve basis, it is bene?cial to ?le the ITR way before the due date to have early assessment and refund (if needed). No Carry Forward of Losses: If the taxpayer has incurred some losses during the year then as per the provision, same can be carried forward to the next year to set off against future year pro?ts. But if one fails to ?le the ITR before due date then the taxpayers loses the rights to carry forward the losses.

2. So it is always bene?cial to ?le an ITR to have hassle-free functioning in the next ?nancial year and Alankit offers you that support to correctly ?le your ITR in UAE with easiness and with the help of our experts guidance. Previous Next Recommended Blogs Complete Guidance on Easy and Hassle-free ITR ?ling Why Do You Need Attestation Services in UAE? What to Look for While Choosing VAT Consultants in UAE? How Best Tax Consultants in Dubai Can Make ITR Filing Process Easy? GET IN TOUCH WITH US For any queries or information required related to our services or company, please feel free to get in touch with us at any point of time. Fill in the form below and one of our executives will contact you at the earliest possible. (Within 24 hours) First Name Last Name Email Country Phone Select Message SUBMITDETAILS OUR OFFICES QUICK LINKS OUR OFFERINGS IMPORTANT LINKS Alankit Assignments Limited (DMCC Branch) Home Value Added Tax (VAT) Site Map     Alankit Management Consultancy Company Overview Permanent Account Number (PAN) Privacy Policy     Alankit Assignment Services LLC (Sharjah Branch) Form Center Income Tax Return (ITR) Terms & Conditions     +971 44 340899, +971 42 770936, +971 65 Useful Links Attestation of Documents Refund Policy     278456 Careers New Pension System (NPS)   saurabhk@alankit.com  Media Center Aadhaar Services   Blog Demat   Contact Us Dubai Gold & Commodities Exchange (DGCX)   Pan Card Correction  Duplicate pan card  Marriage certi?cate attestation services uae  Vat accounting in uae  How to ?le vat return in Uae  How to pay nps contribution online  ©2018 Alankit. All Rights Reserved