Resident Tax Return Plans

Salary Income Plan

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2000INR

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Rental Income Plan

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3500INR

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Share Trading Plan

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4000INR

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Customised Plan

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What is the Resident tax return plan?

Customised based on the common sources of income for an Indian resident, our Tax Return Plans are designed to help a customer choose the type of assistance he requires to file a tax return in India. The type of plan selected by you also helps us consult you better by understanding the nature of your income. In case you have more than one source of income, you may choose your income sources from under our “Customised Plan”.

Benefits of Resident plans?

All residents purchasing our Tax Return Plan are assured to receive the following services from PravasiTax:
Dedicated Chartered Accountant assisted Income Tax Return filing
Regular Email / On-Call Support at the time of your convenience
On-call Consulting and planning on your Income Tax
Live updates on the status of your Income Tax Return

Which tax return form should a resident use

A resident individual can file income tax return in any of the following return forms depending on the nature of income:

ITR-1 : Resident individuals having income from salary / pension, rental income from one house property, interest, dividend etc. where total income does not exceed INR 50 lakhs;
ITR-2 : Resident individuals who are not eligible to file ITR-1 can file ITR-2 provided he does not have a business or professional income;
ITR-3 : Resident individuals having income from business or profession;
TR-4 : Resident individuals having income from business or profession to be computed on presumptive basis.

Frequently Asked Questions



How do I determine if I am a resident or a non-resident?

Residential status in India is determined based on the period of stay in India and it needs to be determined each year. If a person satisfies any of the below conditions, he is considered an Indian resident and if he does not satisfy both these conditions, he will become a non-resident:

If he/she is in India for 182 days (6 months) or more during the year; or
If he/she is in India for 60 days (2 months) or more in the year and 365 days or more in the last four years.


Why is residential status important?

Residential status in India is important as income tax payable in India will vary depending on residential status in India. While a resident is chargeable to tax in India on his worldwide income, a non-resident is required to pay tax in India only on his Indian source incomes such as bank interest, rental income in India, profits from share trading in India, etc.



What are resident income tax returns?

Every person who is resident in India is required to pay tax and file returns in India if their total income in a year exceeds INR 2.5 lakhs.



How can I file an income tax return in India?

A resident individual who wishes to file ITR-1 can prepare and submit the form online by logging into the income tax website. In case of all other return forms, income tax returns can be filed through downloading the utilities provided by the Income Tax Department at www.incometax.gov.in. From under the Downloads Section, an individual can download the utility corresponding to his return form, fill up personal and income details by following the steps provided in the utility and proceed to submit the tax return.

Alternatively, an individual can also approach a Chartered Accountant or e-return intermediaries for assisted e-filing services.



What is a Rental Income Plan?

If you are an Indian resident earning rental income from any property situated in India, buy our Rental Income Plan to declare your rental income and file tax returns in India.



What is a Salary Income Plan?

If you are a resident earning salary income (from single or multiple employers), pension income, or interest from savings bank accounts and fixed deposits in India, choose our Salary Income Plan to file your tax returns in India. You can also opt for our Salary Income Plan if you wish to file a Nil return.



What is a Share Trading Plan?

If you are a resident engaged in trading in stock markets in India, our Share Trading Plan is the best plan to compute taxes on your share trading activity in India. Our Tax Advisor will assist you to compute your tax and file your tax return in India. Please note that our assistance is strictly restricted to assisting you in filing your tax returns in India and we do not provide any stock market investment advisory services.



What is a Customised Plan?

If you have income from multiple sources in India, choose your income sources from under our Customised Plan to get expert assistance in filing your tax returns in India. Click here for more details on the Plan.

PravasiTax Services

Dedicated Tax Advisor assisted Income Tax Return filing
Regular Email / On-Call Support
Consulting on your Income Tax Computation
Live updates on the status of your Income Tax Return.

Customised Plan

  • 2000INR

    An income is termed to be Salary if an employer-employee relationship exists. The term salary includes wages and pension. The salary received by you may consist of various components, which have distinct treatments prescribed under the Indian Tax law.

      Incomes Covered in the Plan

    • Salary income, from single or multiple employers
    • Pension income
    • Interest from savings bank accounts and fixed deposits
  • 3500INR

    Rental income from any property (residential or commercial) earned by a resident is taxable in India. Also, filing tax returns in India within the due date can help you claim and carry forward the losses resulting from any property.

      Who Should Buy

    • Residents owning up to 3 properties (residential or commercial), whether rented out or otherwise
  • 5000INR

    Rental income from any property (residential or commercial) earned by a resident is taxable in India. Also, filing tax returns in India within the due date can help you claim and carry forward the losses resulting from any property.

      Who Should Buy

    • Residents owning more than 3 properties (residential or commercial), whether rented out or otherwise
  • 4000INR

    An investor in the stock market may be engaged in different types of trading such as equity delivery-based trades, mutual funds or F&O trading. The Indian Tax Law prescribes different tax treatments for different types of investments in the stock market. Also, where you have incurred a loss through share trading, you can claim capital loss through filing your Income Tax Return.

      Who Should Buy

    • Residents engaged in any kind of trading / investing activityon a recognized stock exchange during the year
    • Residents who have sold unlisted shares during the year (Private Limited Company shares)
    • Residents who have earned dividend income during the year

      Plan Exclusions

    • Fair market valuation of unlisted shares.
    • CA Certification and Tax Audit
  • 5000INR

    Gain on sale of immovable property (including land) situated in India is chargeable to tax in India. In certain cases, at the time of sale of the property, buyers are required to deduct tax (TDS) on the amount paid to the seller. Where TDS has been so deducted, individuals can submit their tax returns in India to claim the excess TDS amount as refund. For consultation on tax planning to claim the tax exemption and also to calculate capital gain portion in advance on the sale consideration for TDS purpose, you can avail our ‘Tax Consultation Plan’

      Who Should Buy:

    • Residents who have sold their residential house property during the year
    • Residents who have sold any land or building during the year
    • Residents who have sold any agricultural land situated in an urban area during the year

      Plan exclusions

    • CA Certifications and valuations
    • Lower or NIL TDS certificate from the Tax Department
  • 4000 INR

    Share of profit received by a partner from partnership firm or LLP is exempt from tax. However, remuneration and interest received by a partner from a partnership firm / LLP is taxable in the hands of the partner as business income.

      Who Should Buy:

    • Residents who are Partners in any Partnership Firm
    • Residents who are Partners / Designated Partners in any LLP

      Plan Exclusions:

    • Book Keeping and Accounting Service
    • Statutory Audit and Tax Audit
    • CA certifications and Valuations
  • 10000INR

    If you are a sole proprietor, the income from your business would need to be reported in your individual tax return. The income from your business / profession would need to be reported separately as business income in your personal Income Tax Return. Legal, Medical, Engineering, Architectural, Accountancy, Technical consultancy, Interior decoration etc are some of the professions specified under the Indian Tax law. These prescribed professionsand certain businesses also have an option of paying taxes on presumptive basis without the requirement of maintaining books of accounts.

      Who Should Buy

    • Resident individuals earning income from business or profession(excluding income covered under Income from Partnership Firm / Limited Liability Partnership Plan).

      Plan Exclusions

    • Book Keeping and Accounting Service
    • Statutory Audit and Tax Audit
    • Issue of CA Certification under any Regulation
  • 6000 INR

      Who Should Buy:

    • Residents who have earned an income which is not specifically covered in any other Plan.
  • 6000INR

      Who Should Buy:

    • Residents who have earned an income which is not specifically covered in any other Plan.
  • 2000 INR

      Who Should Buy:

    • Residents who have earned an income which is not specifically covered in any other Plan.
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