Income tax filing & planning

Return preparation & filing

Returns are prepared for salaried individuals, professionals, proprietors, partnership firms, LLPs and companies. Income under each head - salary, house property, business or profession, capital gains, other sources - is computed from source documents and matched against Form 26AS and the Annual Information Statement before filing.

Typically covered

• ITR selection and preparation for all heads of income
• Capital gains workings for shares, mutual funds and property
• Reconciliation with Form 26AS / AIS / TIS
• Belated and revised returns where the situation calls for them

Planning, within the law

Planning at this firm means arranging one's affairs lawfully and documenting the choice - comparing the old and new regimes, timing capital gains sensibly, and using the deductions the statute actually provides. It does not mean aggressive positions that will not survive scrutiny.

Typically covered

• Old vs new regime comparison for each year
• Deduction and exemption review (80C, 80D, HRA and others, as applicable)
• Remuneration and drawings structure for partners and directors
• Presumptive taxation evaluation under sections 44AD / 44ADA

Advance tax & TDS

Where tax for the year is expected to exceed the threshold, advance tax is computed and revised at each instalment date. For deductors, the firm prepares and files quarterly TDS returns and generates the certificates that follow.

Typically covered

• Advance tax estimates at 15 June, 15 September, 15 December and 15 March
• TDS returns - 24Q (salary) and 26Q (other payments)
• Form 16 and Form 16A generation
• Lower-deduction certificate applications, where justified

Notices, rectifications & refunds

Intimations under section 143(1), defective-return notices, rectification requests and refund follow-ups are handled from the record. Where a matter proceeds further, the client is advised on the options at each stage.

Due dates and thresholds mentioned on this page are general in nature and change by notification. Please confirm the current position before acting on them.