Corporate Partnerships



Corporate partnerships by H&R Block primarily provide solutions to corporate companies to help file taxes for their employees. We also provide services to expatriates and senior executives in filing their taxes that may get complicated due to their high incomes or expat status.

Tax filing solutions for employers
«  Assisted tax return e-filing service for all employees of a company/corporate.
«  All employees get access to H&R Block tax filing services.
«  Mapping of tax advisor with employee's tax situation.
«  Analysis of deductions utilized and income structure for tax minimization.
«  Advice relating to foreign exchange regulations applicable to individuals.

Expatriate services
«  Tax compliance for expatriates.
«  Detailed advice on tax situations peculiar to expatriate tax situation.

Specialized services for corporate employers, expatriates and senior executives
«  Facility for senior executives to keep their tax affairs neat.
«  Specialized assistance to senior executives.
«  Premium service offered to clients that takes care of high tax brackets and offers optimum tax solutions.

E-filing Advantages for Employees & Employers

For Employers
«  Ensure employees across locations have access to tax preparation services at all times.
«  Reduce your involvement with employees getting mapped to our experts based on complexity.
«  Receive timely and accurate statistics on the number of employees availing our services with their feedback.
«  Reduce costs associated with printing Form 16
«  Add value to an employee's well-being, helping with employee retention.

For Employees
«  24/7 Cloud access to a central repository for employee to download their tax document.
«  Highly secure portal with advance encryption technology to ward off any hacking threats.
«  Year round access to dedicated tax professionals.
«  Assist employees file their past year delinquent taxes to make them fully tax compliant.


FAQs

What documents do I need to file my tax return?
Few Important documents that one must have while e-filing tax returns are as follows:

«  Form 16 - Issued by the employer
«  Form 16A - Tax deducted by banks on interests
«  Form 26AS
«  Home loan and/or HRA receipts
«  Documents of investments for Tax saving

There are few more documents that will be applicable depending on the complexity of the return

If I have committed any mistake in my original return, am I permitted to file a revised return to correct the mistake?

Yes, provided the original return has been filed before the due date and your assessment has not been completed. It is expected that the mistake in the original return is of a genuine and bonafide nature and not rectification of any deliberate mistake. However, a belated return (a return filed after the due date) cannot be revised. Return can be revised within a period of one year from the end of the relevant assessment year or before completion of the assessment whichever is earlier. e.g., In case of income earned during FY 2014-15, the due date of filing the return of income (considering no extension) is 31st July, 2015. If the return of income is filed on or before 31st July, 2015 then the return can be revised upto 31st March, 2017 (assuming assessment is not completed by that date). However, if return is filed after 31st July, 2015, then it will be a belated return and a belated return cannot be revised.

Can a return be filed after the due date?

Yes, if one could not file the return of income on or before the prescribed due date, then he can file a belated return. A belated return can be filed within a period of one year from the end of the assessment year or before completion of the assessment, whichever is earlier. Return filed after the prescribed due date is called as a belated return. A belated return attracts interest and penalty. Interest is charged @1% from the end of return filing deadline till the date of filing return. A penalty of Rs. 5,000 can also be imposed.

e.g., In case of income earned during FY 2014-15, the belated return can be filed up to 31st March, 2017. However, if return is filed after 31st March, 2016, penalty under section 271F up to Rs. 5,000 can be levied.

What will happen if I don't file income tax return?

Filing of return is every taxpayer's duty and earns you the dignity of consciously contributing to the development of the nation. Apart from this, your income tax returns validate your credit worthiness before financial institutions and make it possible for you to access many financial benefits such as bank credits, etc. Also if you do not file your returns then you will face difficulties in the following

«  Processing loans e.g. home loans where ITR is a proof of income
«  Getting VISA where ITR is a document required to be submitted
«  Claiming your refunds if any
«  Claiming any brought forward losses from past years' against this year's income

Corporate Employees E-Filing Process

«  Employee registers on a secure online portal.
«  Employee provides basic information and uploads Form 16.
«  Our Tax Expert resolves the queries of the employee & prepares the tax return.
«  The tax return is made available to the employee for his review.
«  Employee reviews and approves tax return for e filing.
«  H&R Block e-files the return, collects the signed ITR-V form and remits it to the CPC, Bengaluru else also provides detailed guidance for e-verification of ITR.

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