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📑 ITR Filing

# ITR Filing

Income Tax Return filing for salaried, self-employed, businesses and companies — fast and accurate.

📈 Affordable Flat Fees
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## About ITR Filing

Filing your Income Tax Return (ITR) on time is one of the most important financial responsibilities for every earning individual and business. A timely, accurate ITR filing builds your financial credibility for bank loans and credit cards, enables you to claim tax refunds, and keeps you compliant with the Income Tax Act — avoiding penalties and notices.

Best Financial Services offers professional ITR filing services through our qualified CA team for all types of taxpayers — salaried individuals, self-employed professionals, freelancers, businesses, firms, and companies. We ensure you claim every legitimate deduction and pay the correct tax — not a rupee more, not less.

## ITR Forms We File

- ITR-1 (Sahaj) — Salaried individuals with income from salary, one house property, and interest up to ₹50 lakh total
- ITR-2 — Individuals/HUFs with income from capital gains, multiple properties, or foreign income
- ITR-3 — Individuals and HUFs with income from business or profession (non-presumptive)
- ITR-4 (Sugam) — Individuals, HUFs, and firms under presumptive taxation (Section 44AD, 44ADA, 44AE)
- ITR-5 — Firms, LLPs, AOPs, BOIs, and other non-company non-individual entities
- ITR-6 — Companies (other than those claiming exemption under Section 11)
- ITR-7 — Trusts, political parties, and other entities filing under Sections 139(4A) to 139(4D)

#### 📅 ITR Filing Deadlines (AY 2025–26)

Taxpayer Category | Due Date
--- | ---
Individuals (Salaried / Non-Audit) | 31st July 2025
Businesses requiring Audit | 31st October 2025
Companies | 31st October 2025
Transfer Pricing Cases | 30th November 2025
Belated / Revised Return | 31st December 2025

## Tax Deductions We Help You Claim

- Section 80C — Up to ₹1.5 lakh: PPF, ELSS, NSC, LIC premium, home loan principal, tuition fees
- Section 80D — Health insurance premium for self, family, and parents (up to ₹75,000)
- Section 80E — Interest on education loan (no upper limit)
- Section 24(b) — Home loan interest deduction up to ₹2 lakh for self-occupied property
- Section 80G — Charitable donations to approved organisations
- Section 80TTA/TTB — Interest income from savings account (up to ₹10,000 / ₹50,000 for seniors)
- HRA Exemption — Exempt house rent allowance based on actual rent paid
- Standard Deduction — ₹75,000 flat deduction for salaried individuals

## Why Timely ITR Filing Matters

- Mandatory for claiming tax refunds — refunds are not paid without ITR
- Required for home loan, car loan, and credit card applications (banks ask for 2 years ITR)
- Necessary for visa applications to USA, UK, Canada, and other countries
- Helps carry forward capital losses to offset future gains
- Penalty of ₹5,000 (₹1,000 for income below ₹5 lakh) for late filing
- Interest under Section 234A (1% per month) on unpaid tax for late filing

## Documents Required

PAN Card & Aadhar Card
Form 16 (from employer)
All Bank Account Statements
Investment Proofs (80C, 80D, NPS)
Home Loan Interest Certificate
Capital Gains Statements (if any)
Business P&L and Balance Sheet (for businesses)
Previous Year ITR Acknowledgement

## Frequently Asked Questions

Yes. Even if your employer has deducted full TDS, you are still required to file an ITR if your income exceeds ₹2.5 lakh (₹3 lakh for seniors). Additionally, filing an ITR is the only way to claim a refund if excess TDS has been deducted.
If you don't file by the due date, you can file a belated return by 31st December. A late filing penalty of ₹5,000 applies (₹1,000 if total income is below ₹5 lakh). Additionally, you cannot carry forward losses from capital gains or business if the return is filed late. After 31st December, you cannot file at all — only a revised return can be filed.
The answer depends on your income level and the deductions you are eligible for. The Old Regime with deductions (80C, 80D, HRA, home loan interest) is usually better for individuals with high investments and home loans. The New Regime with lower slab rates is better for those with fewer deductions. Our CA advisors calculate both options and recommend the one that minimises your tax outgo.
Yes. A revised return can be filed to correct any error or omission in the original return. The deadline for filing a revised return is 31st December of the assessment year. We review all returns before submission to minimise errors, and assist with revisions if needed.

#### 📑 Our ITR Filing Promise

Accurate filing, maximum deductions claimed, and timely submission — every time. Our CA team files ITRs for individuals, professionals, and businesses across Maharashtra. We also send proactive reminders before deadlines and keep records of your filing history for future reference.

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