Income Tax Return (ITR)

Income Tax Return (ITR) filing is the process of reporting your income, expenses, tax payments, and deductions to the Income Tax Department as per Indian tax laws. It’s a legal obligation and essential for compliance, securing loans, refunds, and avoiding penalties. Filing your Income Tax Return (ITR) is more than just a legal requirement—it forms the foundation of your relationship with the Income Tax Department.

The ITR is the basis for

• Scrutiny and Assessment Proceedings: Tax authorities use your filed return to verify the accuracy of your reported income and claims. Any mismatch, inconsistency, or anomaly can trigger a scrutiny assessment.
• Refund Processing: A properly filed ITR ensures timely processing of refunds, if any, based on TDS/TCS and advance tax paid.
• Loan & Visa Applications: Financial institutions and foreign embassies often require ITRs for the past 2–3 years to assess your creditworthiness and financial stability.
• Evidence in Legal and Financial Matters: ITRs serve as proof of income and are often needed for tender bidding, government registrations, or legal matters involving financial disclosure.

We at Anuj Desai & Associates, make this process seamless by

• Collecting & analyzing income and financial data (salary, business income, capital gains, etc.)
• Identifying eligible deductions under sections like 80C, 80D, etc.
• Computing accurate tax liability or refund
• Filing the return correctly and on time using the appropriate ITR form
• Providing guidance on tax-saving strategies for future years
• Assisting in case of scrutiny or notice from the department

With constant changes in tax laws, forms, and digital systems, a CA firm ensures your ITR is accurate, compliant, and optimized—without the stress.