Income Tax Return Filing

Most return errors are honest ones: a salaried employee forgets the dividend income, a trader files ITR-4 when futures and options losses need ITR-3, a landlord misses the 30% standard deduction on rent. The tax department now cross-checks every return against AIS, Form 26AS, TIS and GST filings, so a mismatch usually produces a notice, sometimes after the date for carrying forward losses has already passed. We prepare and file returns for salaried individuals, professionals, traders, NRIs, HUFs, firms, companies and trusts.

Due dates

Dates are for the year following the financial year, and the government sometimes extends them; our compliance calendar shows the current dates. Filing late also takes away the option of choosing the old tax regime.

Why file, even beyond the legal requirement

• Loans: banks usually ask for two or three years of returns for home loans, loans against property and business credit, even where TDS has been deducted.
• Visas: many consulates accept return acknowledgements as proof of income.
• Carrying forward losses: business and capital losses can be carried forward only if the return is filed by the due date.
• Choice of regime: the old regime, with deductions such as 80C, 80D, HRA and home loan interest, is available only on a return filed on time.
• Refunds: excess TDS by employers, banks or tenants can be recovered only through a return.
• Late fee and interest: section 234F charges ₹5,000 for late filing (₹1,000 if income is up to ₹5 lakh), and sections 234A, 234B and 234C charge interest of 1% a month on unpaid tax.

Which form do you need?

Filing the wrong form leads to a defective return notice under section 139(9).

Returns for different taxpayers

Salaried individuals

The main decision is the regime. The new regime is the default, and with the section 87A rebate income up to ₹12 lakh is effectively tax-free. The old regime may still work out better if you have home loan interest, HRA, health insurance and 80C investments. We calculate both before filing.

Hindu undivided families

An HUF is a separate taxpayer with its own PAN and bank account, the same slabs as an individual and its own deductions. It can reduce tax for families with jointly owned property or ancestral business. We help form the HUF, obtain its PAN and file its returns.

Partnership firms and LLPs

Taxed at 30% plus surcharge and 4% cess, filing ITR-5. A tax audit under section 44AB applies above the turnover limits (₹1 crore for business, or ₹10 crore where cash transactions are within 5%, and ₹50 lakh for professions), with the return due on 31 October. Partners file their own returns, due on the same date as the firm's when the firm is audited.

Companies

Every company files ITR-6 after its statutory audit, by 31 October, or 30 November with transfer pricing. Indian subsidiaries of foreign companies and companies with related-party cross-border transactions have additional reporting.

NRIs

Tax depends on residential status, not citizenship. A tenant of an NRI's flat usually deducts 30% TDS; actual tax is often lower and the excess comes back only through a return. We also handle Form 15CA / 15CB, treaty claims and status determination.

Trusts and NGOs

Organisations registered under section 12A or 12AB must apply 85% of their income to their objects; up to 15% may be set aside. ITR-7 must be filed by the due date even if no tax is payable, along with the audit report in Form 10B or 10BB, or the exemption for the year can be lost. See 80G and 12AB registration.

Mistakes that commonly lead to notices

• Wrong form: for example ITR-1 with F&O income or several capital gains.
• Not reconciling AIS: AIS shows property sales, mutual fund redemptions, large deposits, interest and dividends; differences are now the largest source of demand notices.
• Income left out: freelance receipts, FD interest, dividends and gifts above ₹50,000 appear in AIS even without a TDS certificate.
• Not verifying the return: a return not e-verified within 30 days is treated as not filed. Verify by Aadhaar OTP, net banking or digital signature.
• HRA claims without support: rent receipts are needed, and the landlord's PAN where rent is above ₹1 lakh a year.
• F&O losses not declared: they are non-speculative business losses that can be set off and carried forward for 8 years, but only on a return filed on time.

Common questions

What if I miss the due date?

You can file a belated return by 31 December with the late fee and interest, but losses cannot be carried forward and the old regime is not available. After that, an updated return (ITR-U) can be filed within four years from the end of the assessment year, with additional tax.

Do I need a chartered accountant to file?

A simple salary return can be filed yourself on the portal. Professional help is worth it for capital gains, F&O, business income, NRI income or after a notice.

TDS has been deducted. Do I still need to file?

Yes, if your gross income is above the basic exemption limit (₹4 lakh under the new regime, ₹2.5 lakh under the old), and to claim back any excess TDS.

Can I correct a return after filing?

Yes, a revised return under section 139(5) can be filed within the time allowed for that year. After that, an updated return is possible within four years, subject to conditions and additional tax.

Which regime is better for me?

It depends on your deductions. As a rough guide, for income of around ₹10 to 12 lakh, the old regime tends to work out better only if total deductions exceed about ₹3.75 lakh. We calculate both for every client.

How do you charge?

Fees depend on the scope of the return. We agree the scope and fee before we start. Documents can be shared in person, by email or on WhatsApp.

Section and form numbers on this page refer to the Income-tax Act, 1961 and its rules. From 1 April 2026 the Income-tax Act, 2025 applies, with new section and form numbers; the requirements described here are broadly unchanged. We use whichever numbering applies to your transaction date.