Income Tax Return Filing

Income Tax Return Filing

The Income Tax Return e-filing is an annual event that applies to all types of taxpayers, regardless of whether they are corporate, LLP, or individual. Taxable income varies depending on the type of taxpayer. We make it easy to understand income tax return packages. Please note that this is not a software access fee, but an actual CA supported ITR registration service.


Pay the taxes first, and then return the files

The filing of income tax returns is a self-assessment method where the taxpayer must calculate the taxable income earned in the previous year and the income tax owed on him. Taxes payable must be paid before submitting a tax return. Taxes can be paid online or via Challan 280 by depositing into the bank by cheque or cash.

Filing in late returns

If the Taxpayer misses the due date for filing the return, the return can still be submitted as a “late return” on the last date of the estimated year. However, losses or accumulated depreciation are not transferable and if an error occurs, late returns cannot be checked again.

Sanction for not applying for ITR

Filing an ITR is a mandatory requirement under Section 139 of the Income Tax Act of 1961, and failure to apply for an ITR will result in a fine of up to Rs. 5,000 / -. These penalties exceed interest or other consequences for not paying taxes. However, if the real reason for ITO satisfaction is shown, it can be revoked or reduced.

ITR-1 This return form is for local individuals whose total income  includes:

· Salary/pension income

·         Homeownership income (except in cases where the loss is carried over from previous years)

·         Income from other sources (excluding lottery winnings and income from racehorses)

·         Agricultural income up to 5,000 rupees.


ITR-2 ITR 2 is for the use of an undivided Hindu individual or family (HUF) whose total income includes:

·         Salary / pension income; or

·         Income from homeownership; or

·         Income from other sources (including lottery winnings and income from racehorses)


ITR-3 This ITR3 form must be used by a person or non-Hindu family that is inseparable from property or employment income.

·         Have a business or profession

·         If you are the sole director of a company

·         If you have invested in unlisted stock at any time during the financial year

·         Returns can include homeownership income, salary/pension, and income from other sources

·         The income per person as a partner in the company




It applies to individuals and HUF partner companies (excluding LLP) who are based in a company or profession. Also includes those who have chosen an alleged income system in accordance with section 44AD, section 44ADA, and section 44AE of the Income Tax Act. However, if the business turnover exceeds Rs 2 crores, the taxpayer must file an ITR-3.


ITR-5 ITR 5 for Corporations, LLP (Limited Liability Partnership), AOP (Individual Associations), BOI (Individual Authorities), Inheritance of the Deceased, Bankruptcy Assets, Business Trusts, and Investment Funds.



For all companies not seeking exemption under Section 11 (Income from Assets Held for Charitable or Religious Purposes), this statement only needs to be filed electronically.

ITR-7 Under existing income tax rules, the following companies are eligible to file tax returns using ITR7 u / s 139 (4C):


·         Research Association

·         Newsagency

·         Associations or institutions pursuant to Part 10 (23A)

·         Different types of institutions listed in Section 10 (23B)

·         ITR 7 r / s 139 (4D)


According to the rules in Article 139 (4D), all institutions, universities, and colleges that are not included in other sections are entitled to file income tax returns using Form ITR 7.