Income Tax Return (ITR)
Filing Online in India
Sharda Associates provides accurate, CA-reviewed Income Tax Return (ITR) filing with the correct ITR form selection, maximum eligible deductions, and complete AIS & Form 26AS verification. From document review to filing and e-verification, we handle the entire process online for salaried individuals, freelancers, business owners, professionals, NRIs, firms, and companies across India.
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What happens after you send us your documents
Share Your Documents
Form 16, AIS, Form 26AS
& income details
CA Review
Correct ITR form and tax calculation verified
ITR Filing
Return filed securely on the Income Tax Portal
E-Verification
ITR e-verified for successful submission
Refund / Acknowledgement
Refund processed (if applicable) and ITR acknowledgement shared
Definition
What Is Income Tax Return (ITR)?
An Income Tax Return (ITR) is a form filed with the Income Tax Department to report your income, deductions, and taxes paid during a financial year. Filing an ITR helps you stay compliant with tax laws, claim refunds of excess TDS or advance tax paid, and maintain an accurate tax record. It also acts as an important financial document that is widely accepted as income proof when applying for home loans, personal loans, credit cards, or visas. In addition, filing your ITR allows eligible taxpayers to carry forward business or capital losses to future years, strengthening their financial profile and ensuring smooth compliance with the Income Tax Department.
Who It's For
Who Should File an Income Tax Return?
Senior Citizens
NRIs
Startups & MSMEs
When Is ITR Filing Mandatory?
- Total income exceeds the basic exemption limit
- Current account deposits above ₹1 crore, or savings above ₹50 lakh
- Foreign travel spend above ₹2 lakh in the year
- TDS/TCS of ₹25,000 or more (₹50,000 for senior citizens)
- Holding foreign assets or signing authority abroad
Why File Even If It Isn't Mandatory?
- Claim a refund of excess TDS or advance tax.
- Build a strong income record for loans and credit cards.
- Carry forward eligible business or capital losses.
- Support visa applications that require previous ITRs.
Types Covered
Income Types Covered in an ITR
An Income Tax Return can include income from multiple sources, depending on your financial profile, such as:
Salary
Business or Profession
Capital Gains
House Property
Interest Income
Foreign Income
Other Sources
Form Finder ★ Most Important
Which ITR Form Is Right for You?
Based on ITR form eligibility for FY 2025–26 (AY 2026–27)
Not sure which ITR form applies to you? Our CA team will review your income sources and file your return using the correct ITR form.
Checklist
Documents Required for ITR Filing
The documents required depend on your income source and the ITR form applicable to you. Our CA team will review your documents and let you know if anything else is needed before filing your return.
Salaried Individuals
- Form 16 issued by your employer
- Salary slips (if required)
- Form 26AS & AIS
- Rent receipts (for HRA claim, if applicable)
- Investment proofs for deductions (Section 80C, 80D, etc.)
Business Owners
- Profit & Loss Account and Balance Sheet
- GST Returns (if applicable)
- Bank Statements
- Tax Audit Report (if applicable)
- Details of Existing Loans & Advances
Freelancers & Professionals
- Income & Expense Statement
- Client Payment Records / Form 26AS
- Bank Statements
- Presumptive Income Details (Section 44ADA, if applicable)
Companies & LLPs
- Audited Financial Statements
- Tax Audit Report (if applicable)
- Board Resolution & MCA Documents (where applicable)
- TDS Returns Filed by the Company
Save Tax
Tax Deductions & Old vs New Tax Regime
Choosing the right tax regime can help reduce your overall tax liability. Our CA team compares both regimes based on your income and eligible deductions to recommend the most beneficial option.
PF, PPF, ELSS, life insurance premiums, tuition fees, and home loan principal repayment.
Health insurance premium for self, family, and parents.
Donations made to eligible charitable institutions.
Additional deduction for National Pension System (NPS) contributions.
Section 24(b)
Deduction on interest paid for a home loan.
Deduction on interest paid for an education loan.
Sequence
How We File Your ITR
An Income Tax Return can include income from multiple sources, depending on your financial profile, such as:
Share Your Documents
Upload Form 16, AIS, bank statements, and income details.
CA Review & ITR Form Selection
CA verifies documents and selects the correct ITR form.
AIS & Form 26AS Verification
Cross-check income, TDS, and tax records for accuracy
Tax Calculation
Compare both tax regimes and calculate the lowest tax.
ITR Filing
File the return securely on the Income Tax portal.
E-Verification
Complete e-verification for successful ITR submission.
Track Record
Why Choose Sharda Associates?
CA-Reviewed
Every return is reviewed by a practising Chartered Accountant.
AIS Verified
Income and TDS matched with AIS and Form 26AS.
Correct ITR Form
We select the right ITR form for your income.
Maximum Eligible Deductions
Claim every deduction you’re legally eligible for.
100% Online Process
Share documents and complete filing from anywhere.
Fast Turnaround
Most ITRs filed within 24–48 working hours.
Common Mistakes
Common Mistakes We Help You Avoid
Wrong ITR Form
Choosing an incorrect return form for your income.
AIS Mismatch
Missing income or TDS shown in AIS and Form 26AS.
Incorrect Bank Details
Errors that delay your income tax refund.
Invalid Deduction Claims
Claiming deductions not allowed under your tax regime.
Unreported Capital Gains
Missing gains from shares, mutual funds, or property.
Missing E-Verification
The return remains incomplete until successfully e-verified.
FAQs
Frequently Asked Questions
It’s a form filed with the Income Tax Department declaring your income, deductions and tax paid for a financial year, and claiming any refund due
It’s not mandatory in most cases, but filing voluntarily lets you claim a TDS refund and build an income record for loans and visas.
India has seven ITR forms tailored to different taxpayer categories and income types:
- ITR 1 (Sahaj): For salaried individuals with income up to Rs 50 lakh from salary, one house property, and other sources.
- ITR 2: For individuals with income above Rs 50 lakh, capital gains, multiple properties, or agricultural income above Rs 5,000.
- ITR 3: For those with income from business or profession.
- ITR 4 (Sugam): For presumptive income earners with turnover up to Rs 2 crore.
- ITR 5: For firms, LLPs, and AOPs.
- ITR 6: For companies excluding charitable ones.
- ITR 7: For trusts, political parties, and other specified entities.
Selecting the correct form ensures smooth processing and compliance.
Key documents needed include PAN and Aadhaar cards, Form 16 from employers, salary slips, Form 26AS reflecting TDS details, Annual Information Statement, bank interest certificates, proofs of investments eligible for deductions (like PPF, ELSS, LIC), capital gains statements, rental income proofs, and business financials if applicable. Keeping these organized eases accurate reporting and supports any future scrutiny or assessment by tax authorities.
Yes, salaried individuals can file ITR without Form 16 by referring to Form 26AS for TDS details and salary slips for income information. Online platforms often provide guided filing even without Form 16. However, obtaining Form 16 from your employer helps ensure accuracy and completeness, minimizing errors in your return.
The due date depends on your taxpayer category and whether your accounts require an audit. We help you file your return before the applicable deadline.
The basic exemption limit is the income threshold below which no tax is payable. Under the new tax regime (FY 2025-26), individuals under 60 years have an exemption up to Rs 4 lakh, with progressive slabs thereafter. Under the old regime, it is Rs 2.5 lakh for individuals under 60. Senior citizens enjoy higher exemption limits. Choosing between regimes depends on your income and deductions claimed.
The usual deadline is 31st July of the assessment year. Filing after this date is possible but treated as a belated return, subject to penalties. The last date for belated filing is 31st December of the same assessment year. Early filing avoids penalties and expedites refunds.
Missing the deadline means you must file a belated return by 31st December with a late fee under Section 234F (up to Rs 5,000). Interest on outstanding tax liability may also apply. Filing late may delay refunds and increase scrutiny risk. It’s best to file as soon as possible after the deadline.
Yes, if you notice errors or omissions, you can file a revised return before 31st December of the assessment year to correct mistakes. This ensures your tax records are accurate and prevents penalties for misreporting.