From ITR-1 for salaried individuals to ITR-7 for trusts, ProSetu connects you with ICAI-verified Chartered Accountants who maximize your deductions, ensure compliance, and file your returns accurately and on time.
Income tax filing is the annual process of declaring your total income, claiming eligible deductions, computing tax liability, and submitting your Income Tax Return (ITR) to the Income Tax Department of India. Every individual, HUF, firm, or company whose income exceeds the basic exemption limit (₹2.5 lakh under the old regime, ₹3 lakh under the new regime) is required to file an ITR.
The Income Tax Act, 1961 provides various deductions and exemptions — under Sections 80C, 80D, 80E, 80G, 80TTA, and others — that can significantly reduce your tax liability when properly utilized. Additionally, choosing between the old and new tax regimes requires careful analysis of your income structure and investment portfolio. A qualified CA ensures you pay the minimum legal tax while remaining fully compliant.
Choosing the correct ITR form is critical. Filing the wrong form can result in your return being treated as defective.
For resident individuals with salary, one house property, other sources (interest, etc.), and agricultural income up to ₹5,000. Total income must not exceed ₹50 lakh.
For individuals and HUFs with income from capital gains, foreign assets/income, multiple house properties, or income exceeding ₹50 lakh.
For individuals and HUFs with income from business or profession (including freelancers, consultants, and partners in a firm).
For individuals, HUFs, and firms (other than LLP) opting for presumptive taxation under Sections 44AD, 44ADA, or 44AE with income up to ₹50 lakh.
ITR-5 for LLPs and firms, ITR-6 for companies, and ITR-7 for trusts, political parties, and institutions claiming exemption. Full compliance handled by ProSetu CAs.
Expert CA Assistance
From ITR-1 to ITR-7, our verified CAs file your return with accurate income computation, deduction optimization, and timely e-verification.
Proactive tax planning across both regimes — 80C investments, 80D health insurance, HRA optimization, NPS, and capital gains strategies.
TDS reconciliation with Form 26AS and AIS, advance tax computation, and follow-up on pending refunds with the CPC.
Accurate computation of short-term and long-term capital gains from stocks, mutual funds, property, and cryptocurrency transactions.
Specialized filing for freelancers under 44ADA, business owners under 44AD, and professionals with complex income structures.
Expert representation for income tax notices under Sections 143(1), 143(3), 148, and other departmental communications.
For salaried individuals and non-audit cases, the due date is 31st July of the assessment year. For businesses requiring audit, it is 31st October. For transfer pricing cases, it extends to 30th November. Late filing after the due date attracts penalties under Section 234F of up to ₹5,000.
ITR-1 (Sahaj) is for salaried individuals with income up to ₹50 lakh. ITR-2 is for individuals with capital gains or foreign income. ITR-3 is for individuals with business/professional income. ITR-4 (Sugam) is for presumptive taxation. ITR-5 to ITR-7 are for firms, companies, and trusts respectively.
The new regime (Section 115BAC) offers lower tax rates but eliminates most deductions (80C, 80D, HRA, etc.). The old regime retains all deductions and exemptions. A ProSetu CA can compare both regimes for your specific income structure and recommend the one that minimizes your tax liability.
Non-filing attracts a late fee of up to ₹5,000 under Section 234F, interest on unpaid tax under Sections 234A/234B/234C, inability to carry forward losses, and potential prosecution under Section 276CC for tax evasion if income exceeds the basic exemption limit.
Yes. Under Section 139(5), you can file a revised return before 31st December of the assessment year or before the completion of assessment, whichever is earlier. A revised return replaces the original and can be filed multiple times within the allowed period.
If TDS deducted exceeds your actual tax liability, the excess is automatically refunded after you file your ITR. Ensure your bank account (with IFSC) is pre-validated on the income tax portal. Refunds are typically processed within 20–45 days of e-verification.
Maximize deductions, avoid penalties, and get your refund faster with ProSetu's ICAI-verified Chartered Accountants.