Overview
What is Income Tax Return (ITR) Filing?
An Income Tax Return (ITR) is a form in which taxpayers declare their income, deductions, and tax liability to the Income Tax Department. Filing ITR is mandatory for individuals earning above the basic exemption limit and for entities like companies, LLPs, and firms regardless of income.
Filing ITR on time avoids penalties (up to ₹5,000 under Section 234F), allows you to carry forward losses, is required for visa applications and loan processing, and is essential for getting a tax refund if excess TDS has been deducted.
Expert Tip
Our CA team evaluates your specific business needs, state regulations, and long-term goals to recommend the most suitable option — saving you time and costly mistakes. Book a free 30-minute consultation before you apply.
Benefits
Key Benefits of Income Tax Return (ITR) Filing
Here are the most important advantages you unlock by completing this registration with Tax Gyani's expert assistance.
Maximum Tax Refund
Our CA experts identify every applicable deduction to minimize your tax and maximize refund.
Avoid Penalties
Late filing attracts ₹1,000–₹5,000 penalty. File on time with our reminders.
Loan & Visa Ready
Filed ITR is required for home loans, personal loans, and visa applications.
Carry Forward Losses
Loss from capital gains and business can be carried forward for 8 years when ITR filed on time.
CA-Verified Filing
Every return reviewed by a CA ensuring 100% accuracy and compliance.
24-Hour Turnaround
Most filings completed within 24 hours of document submission.
Documents Required
Documents Required for Income Tax Return (ITR) Filing
Keep these documents ready to ensure a smooth and fast registration process. Our team will guide you through each requirement.
Form-16 from employer (salaried)
Interest Certificates from banks/NBFCs
Capital Gains Statement (for shares/MF/property)
Investment Proofs (80C, 80D, 80G etc.)
Rent Receipts (for HRA claim)
Home Loan Interest Certificate
Foreign Income/Asset details (if applicable)
Document Support
Not sure if your documents qualify? Share them with us and our experts will verify eligibility before you apply — completely free of charge.
Registration Process
Step-by-Step Process
Our streamlined process ensures minimal effort from your side. We handle all paperwork, filings, and follow-ups.
1
Choose Plan & Share Documents
Select your ITR plan and upload/share all required documents securely.
2
CA Review & Assessment
Our CA reviews your income details, identifies applicable deductions, and optimizes your tax liability.
3
ITR Preparation
ITR form is accurately prepared with all incomes, deductions, TDS credits, and tax payable computed.
4
Your Approval
We share the computed ITR with you for review. Any changes incorporated as per your feedback.
5
Filing & e-Verification
ITR filed on the Income Tax Portal. We assist with e-Verification via Aadhaar OTP or NetBanking.
Compliance
Post-Registration Compliance
After your registration is complete, here are the ongoing compliance requirements you need to be aware of to stay legally compliant.
Post-Registration Compliance Checklist
- File ITR by 31st July (non-audit) / 31st Oct (audit)
- Advance tax payment by 15th March (if liability > ₹10,000)
- Self-assessment tax payment before ITR filing
- Keep TDS certificates and investment proofs for 6 years
- Respond to Income Tax Department notices within due date
- File revised return if errors found within 31st Dec
FAQs
Frequently Asked Questions
Everything you need to know before applying for Income Tax Return (ITR) Filing.
Who is required to file ITR?
ITR filing is mandatory for: individuals with income above ₹2.5 lakh (₹3 lakh for seniors, ₹5 lakh for super seniors), all companies and LLPs, individuals with foreign assets, and those who want to claim a refund of TDS deducted.
What is the last date to file ITR?
For individuals and salaried employees (non-audit cases): 31st July of the assessment year. For businesses requiring audit: 31st October. Belated returns can be filed until 31st December with a late fee of ₹1,000–₹5,000.
What is the difference between old and new tax regime?
The old regime offers deductions (80C, 80D, HRA etc.) but higher tax rates. The new regime (default from FY 2023-24) offers lower slab rates but no deductions (except standard deduction of ₹50,000). Choose the one with lower tax liability.
What is Form-16 and who issues it?
Form-16 is a TDS certificate issued by your employer showing salary paid and TDS deducted. Part A contains TDS details; Part B contains salary breakup. It is issued by 15th June every year.
Can I revise my ITR after filing?
Yes. A revised ITR can be filed if you discover any mistake or omission. Revised returns can be filed anytime before the end of the assessment year (31st March) or before completion of assessment, whichever is earlier.