3. Income Tax

Income Tax Return

Income Tax Returns & Assessments – Handled with Expertise, Filed with Confidence

Are you confused about which ITR form to file? Worried about income tax notices or late filings? You're not alone — and you're in the right place.

We take the stress out of tax filing. Whether you're a salaried individual, a freelancer, a business owner, or an NRI, our expert CA-led team ensures that your returns are filed accurately, on time, and in full compliance with the Income Tax Act.

But we don’t stop there — from revised and belated returns to scrutiny assessments and department notices, we represent you every step of the way with precision and professionalism.

Income Tax Return (ITR) – Everything You Need to Know

What is an Income Tax Return (ITR)?

An Income Tax Return (ITR) is a document you file with the Income Tax Department every year to report:

Your total income from salary, business, property, capital gains, or other sources

Deductions and exemptions claimed (like investments, insurance, home loan interest)

Your tax liability and whether you've already paid it through TDS, advance tax, etc.

If you’ve paid more tax than required, the department refunds the extra amount to your bank account.

Who Needs to File an ITR?

You are required to file an ITR if:

Even if not mandatory, filing ITR is beneficial for financial record, visa, and loan applications.

📋 Which ITR Form Should You Use?

There are different types of ITR forms depending on your income source and structure:

Types of Income Tax Returns in India

Understand What You Need – We’ll Take Care of the Rest!

📄 Types of Income Tax Return (ITR) Forms

Which ITR Form Should You File?

The Income Tax Department has prescribed different ITR forms for different types of taxpayers, depending on income source, residency status, and legal structure (individual, firm, company, etc.).

ITR-1 (Sahaj)

For: Salaried Individuals / Pensioners Applicable if you have:

Income from salary or pension

Income from one house property

Other income (like interest from savings account, FD, etc.)

Total income up to ₹50 lakh

Not for you if: You have capital gains, business income, or foreign income/assets.

Ideal for: Most salaried employees with simple income structure.

ITR-2

For: Individuals and HUFs (Hindu Undivided Families) Applicable if you have:

Income from salary/pension

Income from more than one house property

Capital gains (shares, mutual funds, property sale)

Foreign assets or income

Income above ₹50 lakh

Director in a company or held unlisted shares

Ideal for: Professionals, investors, NRIs, high-income individuals with multiple income sources.

ITR-3

For: Individuals and HUFs having income from business/profession Applicable if you:

Run a business or profession (like doctors, lawyers, consultants)

Are a partner in a firm

Have income from capital gains, house property, or other sources

Ideal for: Self-employed, freelancers, consultants, partners in firms.

ITR-4 (Sugam)

For: Individuals, HUFs, and firms (other than LLPs) under presumptive taxation Applicable if you:

Run a small business or are a professional with annual income up to ₹50 lakh

Want to declare income under Section 44AD, 44ADA, or 44AE

Ideal for: Shopkeepers, small traders, freelancers, drivers using owned vehicles, etc.

ITR-5

For:

LLPs (Limited Liability Partnerships)

Partnership firms (except those filing ITR-4)

Associations of Persons (AOP)

Trusts (not filing ITR-7)

We handle this directly as your CA.

ITR-6

For: Companies (other than those claiming exemption under Section 11) Filed by:

Private Limited Companies

Public Limited Companies

Applicable to businesses registered as companies. Filing is done through professionals.

ITR-7

For: Entities claiming exemption under Section 139(4A) to 139(4D), such as:

Charitable Trusts

Religious Institutions

Political Parties

Educational Institutions

Filed by NGOs, educational societies, or political organizations.

🔍 Types of Income Tax Assessments

Assessment is the process used by the Income Tax Department to verify the accuracy of your ITR. Here are the main types of assessments you might encounter:

📑 What Documents Are Needed to File an ITR?

For Salaried Individuals:

PAN Card, Aadhaar Card

Form 16 from employer

Salary slips (if applicable)

Bank account details

Investment proofs (LIC, PPF, ELSS, etc.)

Rent receipts (for HRA claims)

TDS Certificates

For Business Owners/Freelancers:

Business income & expense details

Bank statements

GST returns (if applicable)

Asset purchase/sale details

Depreciation chart (if maintained)

For Capital Gains/Other Income:

Demat statements

Property sale documents

Mutual fund redemption statements

Interest income proofs (FD, savings, NSC, etc.)

⏳ What is the ITR Filing Due Date?

For Individuals (non-audit cases): 31st July every year

For Businesses (audit cases): 31st October Late filing can result in:

₹1,000 to ₹5,000 penalty

Interest on outstanding tax

Loss of carry-forward benefits (like losses)

Tip: File early to avoid last-minute stress and get faster refunds!

🏆 Why File ITR Even if Not Mandatory?

You should voluntarily file ITR even if your income is below ₹2.5 lakh if:

You want to apply for visa, home/car loan, or credit card

You have foreign travel history or plan to invest abroad

You have capital gains/losses

You’re a student/fresher with taxable scholarship or freelancing income

It’s a sign of financial discipline and transparency.

💸 What is a Tax Refund?

If more tax is deducted (TDS) than your actual tax liability, the extra money is refunded by the Income Tax Department—only if you file your ITR.

We ensure that:

You claim all deductions (Section 80C, 80D, HRA, etc.)

You enter bank details correctly

You get refunds quickly

📝 What If I Made a Mistake in My Filed ITR?

The Income Tax Department allows you to revise your return before 31st December (of the assessment year). We help with:

Revising your return

Responding to any notice

Correcting missed income or deductions

📌 Why Clients Choose Us for Return & Assessment Support

📝 Accurate ITR Filing – Prevent defects and penalties

⚖️ Assessment Handling – End-to-end support in case of scrutiny or notices

🔁 Revised/Belated Filing Assistance – Fix or file even after deadlines

📩 Notice Reply & Rectification – Expert help with ITD communications

📚 Document Review & Compliance Check – Avoid future issues proactively

How We Can Help You :

✔️ End-to-End ITR Filing- From form selection to submission ✔️ Tax Planning & Savings Advice ✔️ Refund Tracking & Assistance ✔️ Support for Freelancers, NRIs, Startups & Businesses ✔️ Audit, GST & Financial Advisory Services

Just upload your documents—we’ll take care of the rest.

💼 Not Sure Which ITR Form You Need?

Don’t worry—we’ll choose the right form for you based on:

Your income type and sources

Your profession or business model

Your investment and tax-saving activities

Compliance needs (like audit or foreign income)