Income Tax Return

• ITR-1 (Sahaj) - Applicable for individuals having income from salary, one house property, and income from other sources. It is not for individuals with business income
• ITR-2 - Suitable for individuals and Hindu Undivided Families (HUFs) having income from sources other than business or profession. It includes income from multiple house properties and capital gains.
• ITR-3 - For individuals and HUFs having income from business or profession. It is applicable when income includes profits and gains from a partnership firm.
• ITR-4 (Sugam) - Designed for individuals, HUFs, and firms (other than LLP) having presumptive income from business and profession. It is suitable for small taxpayers.
• ITR-5 - Applicable for firms, Association of Persons (AOPs), Body of Individuals (BOIs), and Limited Liability Partnerships (LLPs).
• ITR-6 - For companies other than companies claiming exemption under Section 11 (income from property held for charitable or religious purposes).
• ITR-7 - Applicable for persons, including companies, who are required to furnish a return under Section 139(4A) or Section 139(4B) or Section 139(4C) or Section 139(4D).
• ITR-V - Acknowledgment form generated after filing the ITR online. It needs to be signed and sent to the Income Tax Department to complete the filing process.

Surcharge: In addition to the above tax rates, a surcharge applies depending on your total income:

These rates are for individuals, and different rates apply to other categories like senior citizens and super senior citizens.

Choosing the new or old tax regime depends on your specific circumstances and deductions available.

• Unmatched Expertise - Our team of qualified tax professionals boasts extensive knowledge of income tax laws, deductions, and filing procedures. We stay updated on the latest rules and changes, ensuring your return is filed accurately and maximizes your benefits.
• Streamlined Process - We handle the entire return filing process for you, from gathering necessary documents to calculating taxes, and electronically submitting the return. Let us handle the paperwork while you focus on what matters most.
• Maximize Your Refunds - We meticulously analyze your income and expenses to identify all eligible deductions and credits, ensuring you receive the maximum possible refund. Leave no money on the table!
• Personalized Attention - We understand every financial situation is unique. We take the time to understand your specific needs and tailor our approach to optimize your tax burden. We're more than just paper-pushers – we're your tax confidantes.
• Transparent Communication - We believe in open communication and keep you informed at every step of the process. You'll always be aware of the progress of your return and have access to a dedicated account manager to address any questions or concerns.

• PAN Card, Aadhaar Card.
• Form 16.
• Salary slip.
• Bank Account Statements.
• Investment Proofs.
• Rent income receipts (if any).
• Other Income details (such as lottery winnings, agricultural income, foreign income, etc.).
• For Capital Gain Income, Sale deed or Purchase agreement.

• Initial Consultation - We understand your situation and gather docs.
• Data analysis - We find every deduction and maximize your refund.
• Expert preparation - We fill out your ITR accurately and electronically file it.
• Clear communication - You're always in the loop and can reach us anytime.
• Post-filing support - We handle inquiries and offer future tax planning guidance.

• Legal Compliance - Filing ITR fulfills a legal obligation, avoiding penalties and legal consequences.
• Documentation of Income - Serves as official documentation of various income sources during a financial year.
• Claiming Deductions - Allows taxpayers to claim deductions and exemptions, reducing taxable income.
• Credit for TDS - Credits taxes deducted at source, aiding in tax calculations.
• Refund Possibility - Enables the refund of excess taxes paid, common with TDS deductions.
• Financial Transparency - Promotes financial transparency, creating a comprehensive financial profile.
• Credit Rating Impact - Positively influences credit ratings, aiding in loan approvals.
• Various Approvals and Transactions - Required for loan approvals, visa processing, property transactions, and eligibility for government schemes.

• The penalty for late filing of ITR depends on the taxpayer's total income and whether they have any outstanding tax liability.
• For individuals with a total income of less than ₹5 lakh, the penalty for late filing of ITR is ₹1,000.
• For individuals with a total income of ₹5 lakh or more, the penalty for late filing of ITR is ₹5,000.

If the taxpayer has any outstanding tax liability, they will also be liable to pay interest on the outstanding tax amount. The interest rate is 1% per month or part of a month, from the due date of filing the ITR till the date of payment of the tax.