Company Tax Returns

 

Each manufacturer, dealer, supplier, and consumer who has registered under have to file returns each year. In the new tax system,  Company Tax Returns  return filing has been automated completely. As a business owner and a taxpayer, you must declare the income that you receive from carrying out business transactions. GST returns is a document that will contain all the details of your sales, purchases, tax collected on sales (output tax), and tax paid on purchases (input tax). Once you file returns, you will need to pay the resulting tax liability (money that you owe the government).As per the law, every individual/Company/LLP registered under the  Act has to furnish the details of sales, purchases and the tax paid by filing for  returns with the administrative authorities. The return filing process has to be done electronically in the  portal. A facility has to be offered for the manual process of  return filing tasks. This facility helps the business taxpayer in India to prepare the return offline and then upload it on  through the facilitation center. There are also various components of returns filing that you need to know about.