Particularly if you’re not sure what to include, what to deduct, or how to prevent errors, filing income tax returns can be taxing. A personal tax return accountant can then truly be of assistance. Let us examine how they save your money and simplify your life.
What is a personal tax return accountant?
A personal tax return accountant is a tax professional assisting individuals—not companies—in properly completing their income tax returns. Usually speaking, they are trained tax consultants or Chartered Accountants (CAs) in India. They deal with salaried employees, freelancers, landlords, retirees—basically everyone who makes money and must pay taxes.
What tasks does an accountant for personal tax returns handle?
Hiring a personal tax return accountant should result in this:
- Gathers and arranges your pay information.
- Uses appropriate deductions—like 80C, 80D, HRA, etc.
- Determines your whole tax obligation.
- Files and gets ready your Income Tax Return (ITR).
- Facilitates refund claims should you pay additional taxes.
- Keeps you current on fresh tax regulations.
- Provides direction for next tax preparation.
Who should hire one?
If you have income from several sources—salary plus rent plus capital gains—you should give hiring a personal tax return accountant some thought.
- You sold mutual funds, shares, or real estate.
- You work freelantically or for yourself.
- You brought in foreign income.
- You made a mistake in past returns or got a tax notice.
- You just want accurate filing and mental peace.
Hiring a personal tax return accountant has advantages.
- No mistakes: Steer clear of improper filings and penalties.
- Saves time: No complicated form has to be figured out.
- Better returns: Pursue every qualified deduction.
- Advice on tax saving: Better prepare for next year.
- Legal safety: Address inquiries or notices if they come.
They also assist in situations requiring changes to past returns or carrying forward capital losses.
What Price Do They Charge?
In India, a personal tax return accountant might bill:
- Simple salary-based returns: ₹500 to ₹2,000.
- For more complicated cases—capital gains, rental income, etc.: ₹2,000 to ₹5,000.
- Higher for high-income tax filings or NRI.
Your return’s complexity and the city you live in determine prices.
In conclusion
Not only for the wealthy is a personal tax return accountant useful. Even slightly complicated financial situations call for professional assistance. You will save time, prevent errors, and perhaps earn more money back—offering corrections.
So, when tax season arrives—do not panic. See a professional and confidently file.
