Question 1

How do I know which ITR form applies to me?

Accepted Answer

The right ITR depends on your residential status and the nature of your income. As a quick guide:

• ITR-1 (Sahaj): resident individuals with income up to ₹50 lakh from salary, one house property, and other sources.
• ITR-2: individuals and HUFs with capital gains, multiple properties, foreign income, or NRI status, but no business income.
• ITR-3: individuals and HUFs with income from business or profession.
• ITR-4 (Sugam): presumptive taxation cases under Sections 44AD, 44ADA, or 44AE.
• ITR-5: firms, LLPs, AOPs, and BOIs.
• ITR-6: companies (other than those claiming exemption under Section 11).
• ITR-7: trusts, political parties, and entities required to file under Sections 139(4A) to 139(4F).

We pick the form during the kick-off conversation so the documents we collect match what the return actually needs.

Question 2

What documents and information do you need to file my ITR?

Accepted Answer

A standard pack covers most cases:

• PAN, Aadhaar, bank account details, and Income Tax portal login.
• Form 16 from each employer and Form 26AS / AIS / TIS downloads.
• Bank statements for all accounts held during the year.
• Capital gains workings: broker statements, property sale and purchase deeds, indexation details.
• Section 80C, 80D, 80CCD, and home loan interest proofs.
• Foreign income and asset details for residents with overseas holdings.

For business and professional returns, we also need books of accounts, GST returns, and tax audit report where applicable.

Question 3

What is the deadline for filing ITR?

Accepted Answer

For most taxpayers, 31st July of the assessment year. For tax audit cases, the audit report is due by 30th September and the ITR by 31st October. Transfer pricing cases get an additional month. Late filing attracts interest under Sections 234A, 234B, and 234C, and a late fee under Section 234F of up to ₹5,000.

Question 4

What if I miss the deadline?

Accepted Answer

You can still file a belated return up to 31st December of the assessment year with applicable late fees. After that, an Updated Return (ITR-U) can be filed within 24 months of the end of the relevant assessment year, but only to declare additional income, and with an additional tax of 25% or 50% depending on timing.

Question 5

How is the ITR verified after filing?

Accepted Answer

Verification is what actually completes the filing. We typically use one of the following:

• Aadhaar OTP on the mobile number linked to PAN-Aadhaar.
• Electronic Verification Code (EVC) via netbanking or bank account.
• Digital Signature Certificate (DSC), mandatory for tax audit and company filings.
• Physical ITR-V signed and sent to CPC Bengaluru within 30 days.

If the return is not verified within 30 days, it is treated as not filed.

The Procedure of Filing Income Tax Return

Our Process

Gather Required Documents

Choose the Correct ITR Form

Calculate Total Income

Calculate Tax Liability

File Online or Offline

Register on Portal

Fill in the ITR Form

Verify the ITR

Review and Submit

Receive Acknowledgement

Features

Form 16 & Documents

Right ITR Form

Tax Calculation

E-filing & Verification

Frequently Asked Questions

Ready to get started?

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