{"id":8556,"date":"2022-12-29T10:58:14","date_gmt":"2022-12-29T05:28:14","guid":{"rendered":"https:\/\/razorpay.com\/blog\/?p=8556"},"modified":"2023-01-27T11:49:12","modified_gmt":"2023-01-27T06:19:12","slug":"itr-filing-documents-required-for-businesses","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/business-banking\/itr-filing-documents-required-for-businesses\/","title":{"rendered":"ITR Filing Checklist: Documents Required to  File Income Tax Returns for Businesses"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>Does ITR filing month sound dreadful to you?<\/p>\n<p>From salaried individuals to founders, everyone starts calling their Chartered Accountants and friends to help file Income Tax Returns (ITR) during the filing period.<\/p>\n<p>But what&#8217;s the whole confusion about?<\/p>\n<p>Documents, documents and documents!<\/p>\n<p>Hence, we prepared a comprehensive checklist of all the documents and information you need to take the ITR filing bull by the horns. So, bookmark this page or download the PDF version of the below documents checklist to file hassle-free ITR this year.<\/p>\n<div style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/d6xcmfyh68wv8.cloudfront.net\/blog-content\/uploads\/2022\/07\/Infographic-Checklist-1.pdf\" target=\"_blank\" rel=\"noopener nofollow\" data-schema-attribute=\"\">Download ITR Filing Checklist<\/a><\/div>\n<p>&nbsp;<\/p>\n<h2>Documents required for ITR Filing<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-8560 size-full\" src=\"https:\/\/d6xcmfyh68wv8.cloudfront.net\/blog-content\/uploads\/2022\/07\/Document-Checklist-1.png\" alt=\"ITR Filing\" width=\"2560\" height=\"4360\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2022\/07\/Document-Checklist-1.png 2560w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2022\/07\/Document-Checklist-1-176x300.png 176w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2022\/07\/Document-Checklist-1-601x1024.png 601w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2022\/07\/Document-Checklist-1-768x1308.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2022\/07\/Document-Checklist-1-902x1536.png 902w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2022\/07\/Document-Checklist-1-1202x2048.png 1202w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><\/p>\n<h2>ITR Filing Checklist for Businesses<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-8562 size-full\" src=\"https:\/\/d6xcmfyh68wv8.cloudfront.net\/blog-content\/uploads\/2022\/07\/Infographic-1.png\" alt=\"ITR Filing\" width=\"2560\" height=\"15284\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2022\/07\/Infographic-1.png 2560w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2022\/07\/Infographic-1-50x300.png 50w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2022\/07\/Infographic-1-343x2048.png 343w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><\/p>\n<div style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/d6xcmfyh68wv8.cloudfront.net\/blog-content\/uploads\/2022\/07\/Infographic-Checklist-1.pdf\" target=\"_blank\" rel=\"noopener nofollow\" data-schema-attribute=\"\">Download ITR Filing Checklist PDF<\/a><\/div>\n<div style=\"text-align: center;\"><\/div>\n<p><span style=\"font-weight: 400;\">Hope this checklist helped you and provided an exhaustive list of documents and information required for filing ITR successfully for your business. Go ahead and share it with someone you think will benefit from this.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, if you own a business, you might want to check out RazorpayX. It helps manage your business banking operations seamlessly, in just a few clicks.<\/span><\/p>\n<div style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/x\/?r=blog_cta_business_banking_itr_filing_checklist&amp;utm_source=blog&amp;utm_medium=cta\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Explore RazorpayX<\/a><\/div>\n<h2>Future Forward Banking with RazorpayX<\/h2>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/razorpay.com\/x\/?r=blog_cta_ITRFiling\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">RazorpayX<\/a> was born out of the need to deliver merchants the best business banking experience. It reimagines how businesses manage money flows and simplifies banking for Founders, CXOs, Chartered Accountants, and finance professionals.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">RazorpayX is a full-stack banking suite that provides end-to-end automation with powerful features like\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Automated Accounting, OTP management, Maker-Checker Flows<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><a href=\"https:\/\/razorpay.com\/x\/corporate-cards\/\">Corporate Cards<\/a> with 20X higher limits<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Automated <a href=\"https:\/\/razorpay.com\/x\/vendor-payments\/\">Vendor Payments<\/a><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Employee <a href=\"https:\/\/razorpay.com\/payroll\/\">Payroll<\/a> &#8211; India\u2019s ONLY payroll with full compliance automation, employee Insurance management and TDS filing<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u00a0Sign up today and experience the business banking of the future.<\/span><\/p>\n<div style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/x\/current-accounts\/?r=blog_cta_business_banking_itr_filing_checklist&amp;utm_source=blog&amp;utm_medium=cta\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Take it for a spin!<\/a><\/div>\n<p>&nbsp;<\/p>\n<h3>FAQs<\/h3>\n<div id=\"rank-math-rich-snippet-wrapper\"><div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-1\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">Which ITR is filed for business income?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>For income earned from business or profession, an individual must file ITR using either ITR-3 or ITR-4 as applicable. ITR 3 is applicable if you fall under this category - an individual or HUF (Hindu Undivided Family) engaged in any business or profession. <\/p>\n<p>ITR 4 is applicable for you if you are a resident individual or HUF or a firm which is not LLP (Limited Liability Partnership) having a total income of up to Rs. 50 Lakhs.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-2\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">What are the documents required for ITR filing for business?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>GST no. if registered under GST, Profit and loss statement for the period of 1st April 2021 to 31st March 2022, Balance sheet as on March 31, 2022, Bank statements of the year, fixed asset addition, and fixed asset sale during the year, and more. Please read the above checklist in the blog for full documents list.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-3\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \">Do companies file ITR?<\/h3>\n<div class=\"rank-math-answer \">\n\n<p>All companies in India need to file their income tax returns, whether they have undertaken business activities in that financial year or not. Partnership firms also must file a NIL income tax return before the ITR filing due date.<\/p>\n<p>Companies that are dormant and have undertaken no business decisions in a year are still expected to file returns.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The last date for ITR filing for FY 2021-22 (AY 2022-23) is July 31. Download a comprehensive checklist of documents required to file income tax returns for businesses.<\/p>\n","protected":false},"author":102,"featured_media":8564,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[27],"tags":[395],"class_list":{"0":"post-8556","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business-banking","8":"tag-itr-filing"},"_links":{"self":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/8556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/users\/102"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/comments?post=8556"}],"version-history":[{"count":0,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/8556\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media\/8564"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media?parent=8556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/categories?post=8556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/tags?post=8556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}