Income Tax Return Filing

Income tax return filing is mandatory for all persons whose income exceeds the basic exemption limit (\u20b93 lakhs under new regime for FY 2025-26), or who meet any other mandatory filing criteria (TDS exceeds \u20b925,000, foreign assets, specified transaction reporting). Virtual Auditor handles ITR filing for all taxpayer categories with CA-led review — ensuring accurate income computation, deduction optimisation, and compliance with all schedules. We don\'t just file returns; we review your entire tax position and advise on optimisation before filing. Quick Answer: Income Tax Return Filing — Income tax return filing by CA firm. ITR-1 to ITR-7 for individuals, HUFs, companies, LLPs, trusts. Tax planning advisory. Due date compliance. Virtual Auditor.

Income Tax Return Filing is a service offered by Virtual Auditor, an AI-powered CA and IBBI Registered Valuer firm (IBBI/RV/03/2019/12333) led by CA V. Viswanathan (FCA, ACS, CFE, IBBI RV), specialising in income tax appeal representation before CIT(A) and ITAT, from offices in Chennai, Bangalore, and Mumbai since 2012.

Source: Income Tax Act 1961, IT Rules 1962, CBDT Circulars, Finance Act Official References: Income Tax Portal ↗ · IT Act Sections ↗

Regulatory Framework

Regulatory basis: Income Tax Act, 1961. Income Tax Rules, 1962. Finance Act (as amended). CBDT Circulars and Notifications.

Returns We File

ITR-1 (Salary + Interest + House Property) ITR-2 (Capital Gains, Foreign Income, NRI) ITR-3 (Business/Profession — Individuals/HUFs) ITR-4 (Presumptive — Section 44AD/44ADA) ITR-5 (Firms, LLPs, AOPs, BOIs) ITR-6 (Companies) ITR-7 (Trusts, Political Parties, Institutions) Belated/Revised Return Filing Tax Audit (Section 44AB) Transfer Pricing Documentation

Indicative Fee Structure

ITR-1 (Salaried Individual)

From \u20b91,999

ITR-2 (Capital Gains / NRI)

From \u20b93,999

ITR-3 (Business Income)

From \u20b95,999

ITR-6 (Company)

From \u20b98,999

*Prices are indicative. Actual fees depend on complexity, capital structure, and regulatory requirements. Contact us for a detailed quote.

ITR Forms — Which One to File

Form | For Whom | Due Date |

ITR-1 (Sahaj) | Salary + 1 house + other income ≤₹50L | July 31 |

ITR-2 | Individuals/HUF without business income | July 31 |

ITR-3 | Individuals/HUF with business income | July 31 |

ITR-4 (Sugam) | Presumptive income (44AD/44ADA) | July 31 |

ITR-6 | Companies (not claiming Sec 11) | October 31 |

Step-by-Step Process

Step 1

Collect Form 16, Form 26AS, AIS

Step 2

Reconcile income, TDS, and advance tax

Step 3

Select correct ITR form

Step 4

File online on e-filing portal with DSC/EVC

Step 5

Verify return and receive acknowledgment (ITR-V)

Recent Engagement — How We Helped

Context: a salaried professional who received a demand notice under Section 143(1) for Rs 3.2 lakhs due to mismatch between Form 26AS and ITR.

Challenge: The assessee had claimed TDS credit for Rs 4.8 lakhs but Form 26AS showed only Rs 1.6 lakhs. The shortfall resulted in an automatic demand with interest under Section 234B/C. The individual was confused and worried about potential prosecution.

Our approach: We obtained TDS certificates from the employer and verified them against Form 26AS. The gap was caused by the employer filing a revised TDS return (26Q) that was not yet reflected in 26AS. We filed an online rectification request under Section 154 with supporting TDS certificates and the employer's revised 26Q acknowledgment.

Outcome: The demand was fully withdrawn within 45 days of rectification filing. No interest or penalty applied. We also helped the assessee set up a system to verify 26AS reconciliation before filing future returns.

This engagement illustrates Virtual Auditor's approach to income tax return filing — combining regulatory expertise with practical execution to deliver results within the client's timeline.

Documents Required

The following documents are needed to initiate the income tax return filing process:

PAN card of the assessee, Aadhaar card (linked with PAN), Form 16/16A from all deductors, bank statements for all accounts held during the year, investment proofs for deductions under Chapter VI-A, capital gains computation with purchase/sale documents, Form 26AS and Annual Information Statement (AIS) download, and TDS certificates for any payments received.

We provide a personalised document checklist after the initial consultation, tailored to your specific entity type and situation. Documents can be shared securely via email or our client portal.

What You Receive

Upon completion of the income tax return filing engagement, you will receive: Completed tax return/form filing acknowledgment, detailed computation of tax liability with supporting schedules, reconciliation statements (26AS, AIS/TIS), advisory note on tax-saving opportunities identified, and a compliance calendar for future filing due dates.

All deliverables are reviewed by CA V. Viswanathan (FCA, ACS, CFE, IBBI RV) before release to ensure accuracy and regulatory compliance.

Timeline and Turnaround

Typical turnaround for income tax return filing: 3-10 working days depending on complexity. Simple ITR filing: 1-2 working days. Tax audit (Form 3CD): 7-10 working days. Notice reply preparation: 3-7 working days. Appeal filing: 5-10 working days for preparation plus statutory deadlines.

Timelines assume prompt submission of complete documents and information. We provide a clear project timeline at the start of every engagement.

Frequently Asked Questions

What is the due date for ITR filing?

Non-audit cases (ITR-1 to ITR-4 for individuals): July 31. Audit cases (companies, firms requiring audit): October 31. Transfer pricing cases: November 30. Belated returns: December 31 (with late fee).

Can you help with old/belated returns?

Yes. Belated returns can be filed up to December 31 of the assessment year (with \u20b95,000 late fee under Section 234F). Revised returns can be filed up to December 31 to correct errors in the original return.

Do you provide tax planning advisory?

Yes. We review your income, deductions, investments, and capital gains before filing and advise on: Section 80C/80D optimisation, capital gains tax harvesting, new vs. old regime comparison, and advance tax planning.

Which ITR form should I file?

ITR-1 (Sahaj): salary + 1 house property + other sources, income up to ₹50 lakhs. ITR-2: capital gains, multiple house properties, foreign income. ITR-3: business/profession income. ITR-4 (Sugam): presumptive taxation. ITR-5: LLPs/firms. ITR-6: companies. ITR-7: trusts/institutions.

What is the due date for income tax return filing?

Non-audit: July 31. Audit cases (Section 44AB): October 31. Transfer pricing cases: November 30. Belated return: December 31 (with ₹5,000 late fee under Section 234F; ₹1,000 if income under ₹5 lakhs).

What is the penalty for late ITR filing?

Late fee under Section 234F: ₹5,000 (if filed by December 31) or ₹10,000 (after December 31). Reduced to ₹1,000 if total income does not exceed ₹5 lakhs. Interest under Section 234A: 1% per month on unpaid tax.

Can I revise my income tax return?

Yes. Under Section 139(5), you can file a revised return before the end of the assessment year (March 31). Updated return under Section 139(8A) can be filed within 24 months of end of assessment year (with additional tax of 25-50%).

Is tax audit mandatory for my business?

Mandatory under Section 44AB if: (1) business turnover exceeds ₹1 crore (₹10 crore if 95% digital transactions), or (2) professional receipts exceed ₹50 lakhs, or (3) opted out of presumptive taxation with income below presumptive limit.