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Business Tax Filing in Chennai

Business Tax Filing in Chennai

Timely and accurate Business Tax Filing is crucial for every organization, whether you're a startup, SME, LLP, or a Private Limited Company. Filing your income tax return for your business not only ensures compliance with the Income Tax Act, 1961 but also strengthens your financial credibility for bank loans, investor funding, and government tenders.

At Laams Tax Consultancy Private Limited, we offer expert-led Business Tax Filing services in Chennai and across India. Our team ensures complete accuracy, optimized deductions, and on-time filings for sole proprietors, partnership firms, LLPs, and corporations.

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Mandatory Documents

Registration Process

Benefits

Common Mistakes

Why Choose Us

Who Needs Business Tax Filing?

  • Startups and SMEs with annual turnover above ₹2.5 lakhs
  • Private Limited Companies, LLPs, Partnerships (regardless of profit/loss)
  • Freelancers or Professionals earning business income
  • NGOs and Trusts with business income subject to tax
  • Businesses availing TAN Registration, filing TDS Returns, or managing PF/ESI Compliance

If you are filing GST Returns or responding to an Income Tax Notice, business tax filing is also part of the broader compliance process.

Documents Required for Business Tax Filing

PAN & Aadhaar of Business Owner / Firm

PAN is the primary tax identity of the business or proprietor and is mandatory for all filings. Aadhaar is required for verification, especially in case of proprietorships. Both documents ensure legal compliance and smooth processing of Income Tax Returns.

Business Registration Certificate

For registered business entities like Private Limited Companies, LLPs, or ,Partnerships firm, a certificate of incorporation or firm registration is essential. It validates the legal structure of the business. This document is required to authenticate the entity while filing returns and during audits.

Profit & Loss Statement and Balance Sheet

These are the core financial statements that summarize your business's financial performance and position during the year. They must be prepared as per applicable accounting standards and verified by a CA, if required. These reports are essential for calculating taxable income accurately.

Bank Statements & Expense Invoices

Monthly or quarterly bank statements help validate business income, interest received, and high-value transactions. Expense invoices support your claims for business deductions and operational costs. Together, they provide transparency and ensure accuracy in return filings.

Tax Deducted at Source (TDS) Details

If your business has deducted TDS while making payments to vendors or employees, include the TDS challans and return filings (Form 26Q, 24Q). These are crucial to reconcile your TDS liability with your Income Tax Return. Mismatched TDS data may lead to demand notices or delays.

GST Returns (if applicable)

If your business is registered under GST, submitting monthly/quarterly and annual GST returns is vital. These help reconcile turnover declared under GST with income tax filings. Consistency in both direct and indirect tax reporting reduces the risk of scrutiny or audits.

Document Checklist

  • PAN & Aadhaar
  • Registration documents
  • Financial statements (P&L, Balance Sheet)
  • Bank statements
  • GST TDS details (if applicable)
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Business Tax Filing Process

Step 1: Business Review & Document Collection

We begin by assessing your business structure (proprietorship, partnership, LLP, or company), annual turnover, and applicable tax obligations. Our team collects essential documents like bank statements, GST returns, and expense records for accurate filing.

Step 2: Financial Statement Preparation

We assist in preparing or validating your Profit & Loss Account, Balance Sheet, and other financial summaries. This ensures your filing is aligned with your actual business performance and meets compliance requirements.

Step 3: Deduction Application & Compliance Check

Our experts apply eligible deductions under sections like 80C, 35AD, 44ADA, and more. We conduct a thorough review for any non-compliance issues, helping you avoid notices, penalties, or tax mismatches.

Step 4: Online ITR Filing Based on Business Type

Depending on your business category, we file the appropriate income tax return form:

  • ITR-3 for individual business owners and professionals
  • ITR-4 for presumptive taxation under Section 44AD/44ADA
  • ITR-5 for partnership firms, LLPs, AOPs
  • ITR-6 for companies

Filing is completed securely through the Income Tax e-filing portal.

Step 5: Post-Filing Support & Query Handling

After filing, we help with e-verification, track refunds, and address any further queries from the Income Tax Department. Received a tax notice? We offer complete assistance in preparing and submitting accurate responses.

Benefits of TAN Registration with Laams

Expert Guidance: On complex business ITRs.

Maximized Deductions: For depreciation, expenses, and tax-saving investments.

Avoid Penalties: For late or incorrect filings.

Year-Round Support: For all your Income Tax Return Filing, GST Return Filing, or TAN Registration Online needs.

Audit Compliance: For companies subject to tax audits under Section 44AB.

Common Mistakes or Compliance or Penalties

Heavy Penalties under Section 271F: Non-filing or incorrect filing attracts severe fines.

Affects Loan & Subsidy Eligibility: Also impacts investor due diligence checks.

Impacts CIBIL Score & Credibility: Regular tax filing improves your creditworthiness and trust factor.

Triggers Notices or Scrutiny: Income Tax Notices or Assessments may be initiated against non-filers.

Why Choose Laams Tax Consultancy?

Our experienced tax professionals handle business tax filing for clients across industries, from IT startups and traders to manufacturers and consultants. We offer a personalized approach to help you meet all tax requirements while maximizing your savings.

Already working with us for TDS Return Filing, or GST Advisory Services? We integrate everything into one comprehensive solution.

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Our Services

Our Popular Services

Income Tax Return Filing in Chennai TDS Return Filing in Vadapalani PF Return Filing in Chennai ESI Return Filing in Chennai PT Return Filing in Vadapalani Income Tax Notice Reply in Vadapalani TAN Registration Online in Chennai Business Tax Filing in Vadapalani

Startup

Private Limited Company Registration in Chennai One Person Company Registration in Chennai Partnership Firm Registration in Chennai Section 8 Company Registration in Chennai NGO Registration Online in Chennai

GST

GST Registration Online in Chennai GST Return Filing in Chennai GST Refund Filling Process in Chennai GST LUT Filing in Chennai GST Registration Cancellation in Chennai GST Advisory Services in Chennai

MCA & Compliance

Annual Compliance for Private Limited Company in Chennai Annual Filing for LLP in Chennai Section 8 Company Compliance in Chennai Annual Compliance for One Person Company in Chennai DIR-3 KYC Filing Online in Chennai

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