Why File Your ITR on Time?

ITR filing is not just about compliance — it is your financial identity document for loans, visas, and credit applications.

01

Claim Your TDS Refund

Employer deducts TDS based on estimated income. Filing ITR with actual deductions (80C, 80D, HRA) often results in a refund — sometimes ₹5,000 to ₹30,000+.

02

Required for Loans and Visas

Banks, embassies, and landlords ask for 2–3 years of ITR acknowledgements. A missing ITR creates delays or rejections in critical life applications.

03

New vs Old Regime — We Compute Both

We calculate your tax under both regimes and recommend which saves you more. For most salaried individuals with HRA and 80C investments, this makes a real difference.

04

AIS Mismatch Protection

The Income Tax department's AIS captures every bank transaction. Filing a correct ITR that matches AIS prevents scrutiny notices and interest demands.

Legal Framework

ITR filing for individuals is governed by the Income Tax Act 1961 with form selection based on income sources.

Income Tax Act 1961, Section 139(1): Every person whose total income exceeds the basic exemption limit (₹2.5 lakh under old regime; ₹3 lakh under new regime for individuals below 60 years) must file an ITR before the due date — 31st July of the assessment year for non-audit cases.

ITR-1 (Sahaj): For resident individuals with total income up to ₹50 lakh from salary, one house property, and other sources (interest, dividends). Cannot be used if capital gains exist.

ITR-2: For individuals with income from capital gains, more than one house property, foreign income or assets, or total income above ₹50 lakh. Also used for directors and shareholders of unlisted companies.

Filing Process

We handle everything from Form 16 processing to e-verification — typically completed in 2 to 3 days.

1

Collect Form 16 from Employer

Form 16 Part A (TDS details) and Part B (salary breakup) is the primary document. Collected from your employer — usually available by June 15.

2

Download AIS and TIS from IT Portal

Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) are downloaded to verify all income and TDS reported against your PAN.

3

Reconcile TDS with Actual Income

TDS in Form 26AS is matched against Form 16. Any discrepancy — like TDS credited to wrong PAN or missing TDS — is identified and resolved.

4

Compute Eligible Deductions

All deductions are computed — 80C (LIC, PPF, ELSS up to ₹1.5L), 80D (health insurance), HRA exemption, standard deduction ₹75,000, and others.

5

Compare New vs Old Regime

Tax liability under both regimes is computed. We recommend the regime that results in lower tax or higher refund for your specific income profile.

6

File ITR and Verify

ITR is filed on the income tax portal and e-verified using Aadhaar OTP or EVC. ITR-V acknowledgement is sent to your email.

Documents Required

Typically just Form 16 and investment proofs — most other data we pull from the IT portal directly.

Form 16 Part A and Part B from employer
PAN card and Aadhaar card
Bank account details (account number and IFSC)
Investment proof — 80C: LIC premium receipts, PPF passbook, ELSS statements
Health insurance premium receipts (80D)
HRA rent receipts and landlord PAN (if rent above ₹1L/year)
Interest certificates from bank FDs
Income tax portal login credentials (or PAN + Aadhaar for OTP access)

Timeline

Typically filed in 2–3 days. Deadline for AY 2026-27 is 31st July 2026.

Day 1

Documents Shared

Day 1–2

Computation Done

Day 2–3

Filed + Verified

31 Jul 2026

Deadline

Benefits & Risks

Benefits of Filing on Time

Avoid late filing fee — ₹5,000 (₹1,000 if income below ₹5L)
TDS refund processed faster for on-time filers
ITR acknowledgement needed for visa, home loan, credit card
Carry forward capital losses (only if filed on time)
Regime selection optimised — often saves ₹10,000–30,000+

Risks of Not Filing

Late filing fee ₹5,000 under Section 234F
Interest u/s 234A/B/C on unpaid or short-paid tax
Prosecution for willful non-filing (income above ₹5L)
AIS mismatch notices from IT department for unreported income
TDS refund permanently forfeited if not claimed within time

ITR Filing — Salaried Individuals