Frequently Asked Questions

Income Tax Filing Services

How to file income tax return online in India?

To file ITR online, register on the Income Tax e-Filing Portal, select the applicable ITR form, fill in income details, claim deductions, and submit using Aadhaar OTP or digital signature.

What documents are required for ITR filing?

Essential documents include PAN card, Aadhaar card, Form 16, bank statements, investment proofs, TDS certificates, and income details from all sources.

Who is eligible for ITR 1 in India?

Individuals with total income up to Rs. 50 lakh from salary, one house property, and other income (excluding lottery, capital gains) can file ITR-1.

Can I file my ITR without Form 16?

Yes, you can file ITR without Form 16 by using your salary slips, bank statements, and other income records to calculate taxable income.

What is the last date for filing income tax return?

Typically, the due date for individuals is July 31st of the assessment year unless extended by the Income Tax Department.

How much does it cost to file ITR through a consultant?

The cost may vary between INR 500 to INR 2,500 depending on complexity. Kartomation offers affordable packages starting from INR 599.

Which ITR form is applicable for salaried employees?

Most salaried employees use ITR-1 (Sahaj), unless they have capital gains, foreign assets, or income above Rs. 50 lakh.

Can freelancers file ITR online?

Yes, freelancers can file ITR using ITR-3 or ITR-4, depending on their income type and whether they opt for presumptive taxation.

How to file ITR for a small business in India?

Small businesses can use ITR-3 or ITR-4, declaring income, expenses, and taxes. Proper books of accounts or presumptive income rules apply.

GST Services

How to file GST return online in India?

Login to the GST portal, choose the return form (GSTR-1, GSTR-3B), fill in sales/purchase data, upload invoices, and submit using DSC or OTP.

What is the penalty for late GST filing?

Late filing attracts a penalty of Rs. 50 per day (Rs. 20 for nil returns) along with interest on unpaid tax at 18% per annum.

Who needs to register for GST in India?

Businesses with turnover above Rs. 20 lakh (Rs. 10 lakh in special category states) must register. E-commerce sellers and inter-state suppliers also need GST.

How to get a GST number for a small business?

Apply on the GST portal with PAN, Aadhaar, business address proof, and bank details. After verification, you’ll receive a GSTIN.

What are the different types of GST returns?

Common returns include GSTR-1 (sales), GSTR-3B (summary), GSTR-9 (annual), and GSTR-4 (composition scheme). Filing depends on business type and turnover.

Can I file GST without a CA?

Yes, you can file GST returns yourself on the portal, but hiring a professional ensures accuracy, compliance, and avoids penalties.

What documents are needed for GST registration?

Required documents include PAN, Aadhaar, business address proof, bank statement, passport-size photo, and authorization letter for business.

How much does GST filing cost in India?

Filing charges range from Rs. 300 to Rs. 2,000 monthly depending on the number of returns. Kartomation offers competitive pricing for SMEs.

How to correct errors in GST return?

You can amend incorrect details in subsequent returns (GSTR-1 or GSTR-3B) within the same financial year by selecting the amendment option.

Bookkeeping & Accounting

What is bookkeeping and why is it important?

Bookkeeping involves recording daily business transactions. It ensures financial accuracy, tax compliance, and helps track profit and growth.

How to manage bookkeeping for a small business?

Use accounting software or outsourced services to track income, expenses, bank statements, and generate reports monthly.

What is the difference between accounting and bookkeeping?

Bookkeeping is the daily recording of transactions, while accounting involves interpreting, analyzing, and reporting financial data for decision-making.

How much does outsourced bookkeeping cost in India?

Outsourced bookkeeping starts from Rs. 1,000/month for basic services. Charges vary based on volume and reporting needs.

Can I use Excel for bookkeeping?

Yes, Excel can be used for simple bookkeeping. However, for scalability and compliance, software or professional help is recommended.

What are basic bookkeeping entries?

Common entries include sales, purchases, payments, receipts, and journal entries like depreciation or salary expenses.

What reports do bookkeepers prepare?

Bookkeepers prepare trial balance, ledger reports, balance sheets, income statements, and cash flow reports.

What is monthly bookkeeping?

Monthly bookkeeping tracks transactions, prepares reconciliations, generates financial statements, and ensures timely GST/ITR compliance.

MIS & Payroll Services

What is an MIS report in accounting?

An MIS (Management Information System) report provides key financial and operational data for business decision-making, like profit analysis or cash flow.

What are the key components of an MIS report?

Components include income and expense reports, budget vs actuals, sales summaries, cash flow analysis, and performance metrics.

How to create a payroll system for employees?

Define salary structure, track attendance, calculate TDS/EPF/ESI, generate payslips, and maintain compliance with Indian labour laws.

What are statutory components in Indian payroll?

Statutory components include Provident Fund (PF), Employee State Insurance (ESI), Professional Tax (PT), TDS, and Labour Welfare Fund.

What is the role of MIS in financial reporting?

MIS supports financial reporting by consolidating data, identifying variances, and helping managers make informed budgeting and forecasting decisions.

How often should MIS reports be generated?

Most businesses generate MIS reports monthly, but some may prefer weekly or quarterly based on operational needs.

Financial Consulting

What are the best tax-saving options in India?

Top options include Section 80C (PPF, ELSS, LIC), 80D (health insurance), 80E (education loan interest), and HRA exemption.

How to choose a tax consultant in India?

Check for experience, service range, online reviews, fees, and if they’re registered with the Income Tax Department.

What is business compliance in India?

It includes timely ITR filing, GST returns, ROC filings (for companies), TDS payment, bookkeeping, and labour law adherence.

How to manage finances for a startup in India?

Use cloud-based tools, maintain monthly bookkeeping, file taxes on time, hire a consultant for compliance, and track cash flow regularly.

Do I need a CA for my business?

While not mandatory, hiring a CA ensures better compliance, strategic planning, and can save you money through legal tax-saving methods.

What services do tax consultants offer?

Services include tax planning, ITR filing, GST returns, financial advisory, accounting, compliance, audit preparation, and business registration.