Income Tax Return Filing Service

If due date of filing and revision of ITR has been expired, still you can file as well as can revise your Income Tax Return within next 2 years after the end of Assessment Year.

Start from - from Financial Year 2019-20 onwards.

Important Points -

1. You cannot claim Refund or Excess Refund.

2. You cannot decrease Liability.

3. You cannot revise this Updated Return (One ITR – U for one Year)

4. You can decrease your Refund

5. You cannot Increase Loss

6. NIL Return not allowed

(Note - Practically, the e-filing website  is allowing ITR with Income Less than 2,50,000 without Interest and Penalty OR Income Less than 5,00,000 with Rs. 1000 Penalty, but there are chances that while professing Income Tax Return, CPC may declare it as Defective ITR)

 FAQs -

Can I file a Return if previously Tax Return not filed?

Yes can file fresh/original Return with Payment of Taxes.

Documents - 
KYCs -
Exisitng User - Income Tax Id Pass 
New User - PAN Card, Aadhar Card, Bank Details & Mobile and Email

Income Details - 

* Form 16
* Bank Statement
* Sales, Purchase, Bank Statement etc.
* Other as per Transaction

Business Income ITR types

1(i). Business Income only (Not Registered in GST)

Person having income from small business and not having GST No. and may have some other Income like Interest on Saving Bank, FD and Dividend.

1(ii). Business Income only (GST No. taken)

Person having income from small business and also registered in GST  and may have some other Income like Interest on Saving Bank, FD and Dividend.

1(iii). Business Income from Commission & Brokerage) only

(TDS 194H, Property Broker, Insurance Agent etc.) – NO GST

Person having income from business of commission & Brokerage like Property Broker, Insurance Agent, TDS deducted u/s. 194H, etc., and also not registered in GST  and may have some other Income like Interest on Saving Bank, FD and Dividend.

1(iv). Business Income from Commission & Brokerage) only

(TDS 194H, Property Broker, Insurance Agent etc.) – GST

Person having income from business of commission & Brokerage like Property Broker, Insurance Agent, TDS deducted u/s. 194H, etc., and also  registered in GST  and may have some other Income like Interest on Saving Bank, FD and Dividend.

1(v). Business Income only (Not Registered in GST)

Share Market Transactions

 Sale of Property/ Office/Land

Person having income from small business and not registered in GST and may have some other Income like Interest on Saving Bank, FD and Dividend.

Additional - 
 - Capital Gain or Loss (LTCG, STCG) on sale on Shares, Mutual Funds and, OR
 - Intraday (Speculative)
 - Future and Option (FnO)
 - taken Housing Loan from Bank or not.

1(vi). Business Income only (Registered in GST)

 Share Market Transactions

 Sale of Property/ Office/Land

Person having income from small business and registered in GST  and may have some other Income like Interest on Saving Bank, FD and Dividend.

Additional - 
 - Capital Gain or Loss (LTCG, STCG) on sale on Shares, Mutual Funds and, OR
 - Intraday (Speculative)

- Capital Gain or Loss (LTCG, STCG) on sale on Property/ Office/Land
 - Future and Option (FnO)
 - taken Housing Loan from Bank or not.

1(ix). Business Income  with multiple income /Special Transactions/ Complex Cases/ etc.

Business Income with some Special Income, Complex Transaction, Unusual Case, Multiple Incomes, Exceptional Income or transaction, Case or etc.]

The followings are the special cases for a Business Income Taxpayers –

·         Sales as per Form 26AS and GST Returns not matched

·         We received previous years payment but the party deducted TDS and it is reflecting in Form 16

·         Forgot to file Previous Year ITR and received Income Tax Notice

·         Form 26AS or AIS is showing wrong Information about my sales/ receipts.

·         Form 26AS or AIS showing Salary wrong Information about TDS/TCS.

·         I also received commission_ TDS deducted u/s. 194H

·         I am not a Professional still TDS deducted at 10% u/s 194J and got Income ax Notice to show 50% Income u/s. 44ADA.

·         I have filed my ITR u/s. 44AD, but received Income Tax Notice asking for showing Income u/s. 44ADA.

·         I am doing job in the Probation period and Company is deducting 10% Tax

·         Having some foreign Income

·         I was Non Resident(NRI) in previous year and I am Resident for current year

·         Sold shares or Securities of Foreign Company

·         I want to carry forward my TDS as it is wrong or not related to current year.

·         Last Year I have filed Tax Return in 44AD now want to file with Tax Audit

·         Last yea I have filed ITR - 3 , can I file ITR 4 this year.

·         I have losses still Tax Audit Required and ITR 3 has to be filed.

·         Any other……to be updated soon.

Three Year Income Tax Return

Year 19-20 (AY 20-21), 20-21 (AY 21-22), & 21-22 (AY 22-23)

Yes, it is possible now.

For Financial Year 2021-22 (Due Date is 31.07.2022)

For Financial Year 2019-20 and 2020-21

An Updated ITR – U can be filed -

Till 31.03.2023 for Financial Year 2019-20

Till 31.03.2024 for Financial Year 202021

Important Points -

1. You cannot claim Refund or Excess Refund.

2. You cannot decrease Liability.

3. You cannot revise this Updated Return (One ITR – U for one Year)

4. You can decrease your Refund

5. You cannot Increase Loss

6. NIL Return not allowed

(Note - Practically, the e-filing website  is allowing ITR with Income Less than 2,50,000 without Interest and Penalty OR Income Less than 5,00,000 with Rs. 1000 Penalty, but there are chances that while professing Income Tax Return, CPC may declare it as Defective ITR)

FAQs -

Can I file a Return if previously Tax Return not filed?

Yes can file fresh/original Return with Payment of Taxes.

Note - Tax with Interest and Penalty has to be paid.