Business Income Plan

Who should buy?

Individuals earning salary income from multiple employers

Having income/loss from multiple house properties

Income from other sources such as interest, commission, dividend etc up to any amount

Capital gains/losses on sale of Land/Building

Capital gains on sale of shares, mutual funds, Debt-oriented funds and other securities

Income from business up to Rs.2 crores and Profession up to Rs.50 Lakhs.


Payment of filing fee

Mail documents to

Team shall go thorugh the same and call/mail back with clarification.

Preparation of draft computation sheet

Filing of return and sending acknowledgement

Documents required( to the extent applicable)

Income tax portal credentials

Mobile No. & Emailid

Bank account number & IFSC

Part A & Part B of form 16

Housing loan statement

For capital gains/losses on sale of land/Building

Date of purchase

Purchase price

Details of registration cost

Inheritance details

Sale value/Stamp duty value

Cost of improvements

Expenses incurred in connection with sale

PAN & Address of the buyers

Details of income from savings bank, Fixed deposits, Dividend income , Commission or any other income

Details of all House Properties such as

Address with Pincode

Rental amount received

Tenant Name

Municipal tax copy

Pan of Co-owner

For capital gains on sale of shares & securities

Capital gains/Profit & Loss statement from Stock broker

For business/Profesisonal income

Turnover details excluding GST

Nature of business or Profession

Trade Receivables, Trade Payables, Cash Balance, Inventory at year end


Need Clarifications?

Related Plans

Salary Plan

Salary/HP Plan


advance salary

Advanced Salary/HP Plan


captal gain plan

Capital Gains Plan


businees inncome

Business Income Plan


Forign income plan

Foreign Income Plan


Corporte Plan

Corporate Plan



Income Tax notice handling


FAQs Related to Business income Plan

Under this scheme if an individual, HUF or partnership firm has turnover or gross receipts from business of not more than Rs,2 crores or has receipts from profession not more than Rs.50 lakhs then they are not required to maintain books of accounts provided they declare income at prescribed rates on turnover/gross receipts. For business the prescribed rate is 6% for digital transactions and 8% for non-digital transactions. For Profession, the prescribed rate is 50%.

You are required to maintain books of accounts and get them audited under Income Tax Act.

Income or loss from futures/options is treated as business income only.

Yes, belated return can be filed before the specified date. However, interest and late filing fee will be applicable and losses if any cannot be carried forward.

Yes. Income Tax department has allowed filing return within 24 months from the end of the assessment year for which the return is not filed. It is however subject to certain conditions.

Depends on the documents made available to us. Once all details are provided, we shall file within 2-3 days.

Yes. Notices received under Sec.143(1) & 139(9) will be attended to without charging any additional fee. For subsequent responses we will charge fee as per normal rates.

Scroll to Top