Chartered Accountants (CAs) in India generally charge between ₹1,000 and ₹10,000+ for filing Income Tax Returns (ITR), depending on complexity. Basic salaried returns (ITR-1/ITR-2) typically cost ₹1,000–₹2,000, while complex filings involving business income, capital gains, or audits can range from ₹3,000 to over ₹10,000.
ITR Filing Charges:
Salaried ITR Filing: ₹1,000/- Capital Gain / Share Gain-Loss ITR: ₹1,500/- Business ITR – 44AD Return: ₹2,000/- All other ITR Filing: ₹3,000/-
What are the ITR filing fees? 1 Finance charges a fixed fee of ₹2,499 for filing the ITR for FY 2024-25. There are no additional charges for filing the ITR if you have multiple sources of income, capital gains, or foreign income.
Before the CA files any form or makes submissions on your behalf on the e-Filing portal, he or she should be authorized by you. Moreover, there are certain statutory forms that require CA certification. You can add CA using this service and the CA has to accept the addition request to submit or ITRs / Forms.
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The ICAI (Institute of Chartered Accountants of India) recommends minimum indicative fees for tax audits. For Class A cities, the minimum is Rs. 40,000 and above, while for Class B cities, it's Rs. 30,000 and above.
Maximum marginal rate is the highest rate of tax at any income level. This means for those with incomes between Rs 2 crore and Rs 5 crore, 39% will be the highest applicable tax rate, and for those with incomes above Rs 5 crore, it will be 42.74% — the highest tax rate since 1992.
An itemized 1040 and a state return cost an average of $323 to be prepared by a TurboTax professional, according to the National Society of Accountants. Turbo Tax CPA: $40 - $180, $323.
MyITReturn
The portal offers free e-filing facility to salaried employees with income less than Rs. 2.50 lakh. Taxpayers with higher income have paid plans for them, starting from Rs. 199 plus taxes.
The answer depends on the complexity of your returns. If your focus is only on filing income taxes, EAs can help prepare accurate returns. On the other hand, if you're looking to maximize your savings and choose tax-saving investments for the entire year, CPAs are the right choice.
Richest Chartered Accountants in India. 1. Kumar Mangalam Birla (Net Worth: $19 billion) 2.
GST Return Fees: Rs. 1,000 to Rs. 3,000 per month. Professional Filing Services: Rs.
According to government reports, while over 7 crore people file tax returns, only a fraction of them actually pay taxes because many fall below the taxable income threshold or use deductions to reduce liability.
Surcharge and Cess:
Surcharge under the New Regime (for individuals below 60 years): Income over ₹50 lakh but under ₹1 crore: 10% of income tax payable. Income over ₹1 crore but under ₹2 crore: 15% of income tax payable. Income over ₹2 crore but under ₹5 crore: 25% of income tax payable.
1. Who is the highest taxpayer in India in FY 2023–24? Reliance Industries is the highest tax-paying company, and Akshay Kumar tops among individual celebrities.
For a very basic ITR return with just salary income, bank interest etc it should not cost you 10K. Depending on the CA firm size and reputation 3-6K could be a reasonable amount.
With the Indian government going digital, income tax return (ITR) filing is now easier than ever. Tax2win's AI-powered DIY ITR filing platform is designed to make the process quick and hassle-free. With our self filing facility, you can file your ITR seamlessly, even without a CA.