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Income Tax Filing & Consultancy
Starting at INR 799 onwards

Income Tax Filing

Any citizen, be it resident or not, who earns or gets an income in India is subject to income tax. The Government of India has levied the tax on the income of a person as per the provisions contained in the Income Tax Act 1961. The income earned during the year from 1st April to 31st March is subjected to Income Tax. Income Tax Return (ITR) is a proof of the citizen’s tax payment. It contains details about your annual income and the amount of tax you have paid. Any Indian Citizen whose income comes under the tax bracket is required to file Income Tax Returns (ITR). Filing an Income Tax Return (ITR) helps you to claim the refund for the excess of the amount paid as Income Tax by the Income Taxpayer. Failing to file Income Tax Return (ITR) leads to a heavy penalty and face legal consequences.

The Perks of Filing Your Income Tax Returns On Time

Get Your Refunds Faster

If you’ve paid more taxes than you need to, you can get this money back as a tax refund. Filing your taxes online (e-filing) makes this process quicker and simpler, so you can get your money back without a long wait.

Avoid Late Fees & Penalties

Nobody likes paying extra fees. If you file your taxes late, you could be charged up to INR 5,000 on Late fees and Penalties including Interest. By e-filing, you can submit your taxes on time and avoid these unnecessary charges.

Carryforward Benefits

A critical condition for the ability to carry forward losses is the timely submission of your tax return. Tax authorities require that the tax return for the year in which the loss occurred be filed by the applicable due date.

Being Tax Compliant

Filing your taxes is something everyone needs to do to follow the law. By filing your returns on time , you can make sure you’re up to date with your taxes, keeping you out of trouble and giving you peace of mind.

Faster Loan Approvals

When you want to take out a loan, banks will want to see your tax returns to make sure you have a steady income. An online tax return can act as proof of your earnings, helping you get that loan approved quickly.

Smoother Visa Applications

Businesses Required To Maintain Books Of Accounts
Business Turnover Upto 5 Cr
Professional Income under 2 Crores
Doesnot Include Income Tax Audit Report
Intra-Day and Derivative Traders
Advance tax Provisions Applicable
TDS Provisions Applicable

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How long will it take?

Upload Required Documents

One Day

Expert Drafts Yor Return

One-Two Days

Payment of Tax

Same Day

Filing Your Return

Same Day

Frequently asked Questions

Is it necessary to attach any documents along with the return of income?

ITR return forms are attachment less forms and, hence, the taxpayer is not required to attach any document (like proof of investment, TDS certificates, etc.) along with the return of income (whether filed manually or filed electronically). However, these documents should be retained by the taxpayer and should be produced before the tax authorities when demanded in situations like assessment, inquiry, etc.

If I fail to furnish my return within the due date, will I be fined or penalized?

Yes, if you have not furnished the return within the due date, you will have to pay interest on tax due. If the return is not filed up to the end of the assessment year, in addition to interest, a penalty of Rs. 5,000 shall be levied under section 271F . [No penalty section 271F would be levied w.e.f. Assessment Year 2018-19]

Note: W.e.f. assessment year 2018-19, fee as per section 234F is required to be paid if return is furnished after due date. Fee for default in furnishing return of income will be as follows:

Rs. 5000 if return is furnished on or before the 31st day of December of the assessment year;
Rs. 10,000 in any other case

However, late filing fee shall not exceed Rs. 1000 if the total income of an assessee does not exceed Rs. 5 lakh.

Can a return be filed after the due date?

Yes, if one could not file the return of income on or before the prescribed due date, then he can file a belated return. A belated return can be filed at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. A belated return attracts interest and penalty .

E.g., In case of income earned during FY 2016-17, the belated return can be filed up to 31st March, 2018.

If I have paid excess tax how will it be refunded to me?

The excess tax can be claimed as refund by filing your Income-tax return. It will be refunded to you by crediting it in your bank account through ECS transfer. The department has been making efforts to settle refund claims at the earliest.

What are the benefits of filing my return of income?

Filing of return is your duty and earns for you the dignity of consciously contributing to the development of the nation. Apart from this, your income-tax returns validate your credit worthiness before financial institutions and make it possible for you to access many financial benefits such as bank credits, etc.

Why is return filing mandatory, even though all my taxes and interests have been paid and there is no refund due to me?

Amounts paid as advance tax and withheld in the form of TDS or collected in the form of TCS will take the character of your tax due only on completion of self-assessment of your income. This self-assessment is intimated to the Department by way of filing of the return of income. Only then the Government assumes rights over the taxes paid by you. Filing of return is critical for this process and, hence, has been made mandatory. Failure will attract levy of penalty.

What is Form 26AS?

A taxpayer may pay tax in any of the following forms:
(1) Tax Deducted at Source (TDS)
(2) Tax Collected at Source (TCS)
(3) Advance tax or Self-assessment Tax or Payment of tax on regular assessment.
The Income-tax Department maintains the database of the total tax paid by the taxpayer (i.e., tax credit in the account of a taxpayer). Form 26AS is an annual statement maintained under Rule 31AB of the Income-tax Rules disclosing the details of tax credit in his account as per the database of Income-tax Department. In other words, Form 26AS will reflect the details of tax credit appearing in the Permanent Account Number of the taxpayer as per the database of the Income-tax Department. The tax credit will cover TDS, TCS and tax paid by the taxpayer in other forms like advance tax, Self-Assessment tax, etc.
Income-tax Department will generally allow a taxpayer to claim the credit of taxes as reflected in his Form 26AS.

Will non payment of tax attract any penalties ?

Non-payment of tax attracts interests, penalty and prosecution. The prosecution can lead to rigorous imprisonment from 3 months to 2 years (when the tax sought to be evaded exceeds Rs. 25,00,000 the punishment could be 6 months to 7 years).