Income Tax Return Filing
Professional services relating to preparation and filing of income tax returns in accordance with the provisions of the Income-tax Act, 1961, including advisory on tax compliance.
Professional services relating to preparation and filing of income tax returns in accordance with the provisions of the Income-tax Act, 1961, including advisory on tax planning and compliance.
E-filing Income Tax Returns in India
An Income Tax Return (ITR) is a prescribed form used for reporting income, claiming deductions, and computing tax liability for a financial year. The return is filed with the Income Tax Department in accordance with applicable provisions of the Income-tax Act, 1961.
Key Considerations for Filing ITR
• Selection of appropriate ITR form
• Reporting of all sources of income
• Reconciliation with Form 26AS / AIS / TIS
• Timely filing to avoid interest and late fees
Consequences of Delayed Filing
• Late fee under Section 234F (₹1,000 / ₹5,000 / ₹10,000 as applicable)
• Interest under Sections 234A, 234B, 234C
• Loss of certain carry-forward benefits
Due Dates for Filing Return
• 31st July – Individuals / non-audit cases
• 31st October – Cases requiring audit
• 30th November – Transfer pricing cases
Importance of Timely Filing of Return
• Compliance with statutory requirements
• Eligibility to carry forward losses
• Facilitation of refund processing
• Documentation for financial transactions (loans, visas, etc.)
Documents / Information Required
• PAN and Aadhaar
• Form 16 / salary details (if applicable)
• Bank statements and interest certificates
• Details of deductions (Chapter VI-A)
• Capital gains statements (if applicable)
• Other income details (dividend, interest, rental income, etc.)