Tax Compliance
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Direct Tax · Income Tax
Income Tax Return (ITR) Filing
Income tax return (ITR) filing is the annual report of your income, deductions and taxes paid that you submit to the Income Tax Department through its e-filing portal. It is needed by individuals whose income exceeds the basic exemption limit or who meet other filing conditions, and by every firm, LLP and company. Cosomtax Solution prepares and files returns for salaried individuals, professionals, business owners and corporate entities, and helps plan taxes within the law.
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What's included
What is included in our ITR filing service?
Choosing the right ITR form
Identifying the correct form (ITR-1 to ITR-7) for your income sources and type of taxpayer.
Income and tax computation
Computing income under each head, set-off of losses and the final tax payable or refund due.
Old vs new regime comparison
Comparing tax under both regimes, where you are allowed to choose, so you can opt for the one that suits you.
AIS, TIS and Form 26AS reconciliation
Checking that income and TDS reported by others match your records before the return is filed.
Capital gains and business income
Computation for shares, mutual funds and property, and for business or professional income, including presumptive taxation where eligible.
Advance tax estimates
Estimating advance tax instalments for the current year so you avoid interest.
Filing and e-verification
Uploading the return and completing e-verification within the time allowed, so the return is treated as valid.
Refunds and notices
Tracking refunds and helping you respond to intimations, defective return notices and other communications.
Who needs to file an income tax return?
- Salaried individuals and pensioners, including those with income from house property, capital gains or foreign assets.
- Doctors, consultants, freelancers and other professionals.
- Proprietors and small businesses, including those eligible for presumptive taxation.
- Partnership firms, LLPs and companies, which must file a return every year irrespective of profit or loss.
- Anyone who wants to claim a refund of excess TDS or carry forward losses.
What documents do I need for ITR filing?
- PAN and Aadhaar (linked)
- Form 16 from your employer and Form 16A or TDS certificates from others
- Bank statements and interest certificates for savings and deposits
- Capital gains statements from brokers or mutual fund registrars, and property sale or purchase deeds
- Proof of deductions you plan to claim under the old regime, such as investments, insurance, home loan interest certificates or rent receipts
- Books of account or financial statements for business and professional income
- Previous year's return and acknowledgement, if available
We also download your AIS, TIS and Form 26AS (with your consent) to cross-check every figure.
What are the key due dates?
| Requirement | Due date |
|---|---|
| Individuals and others not requiring audit | 31 July after the end of the financial year |
| Taxpayers whose accounts must be audited | 31 October after the end of the financial year |
| Taxpayers with transfer pricing reports | 30 November after the end of the financial year |
Due dates are subject to extensions notified by CBDT. Belated and revised returns can be filed only within the time limits set by the law.
Our process
How does our ITR filing process work?
- 01
Consult
A short call to understand your income sources, past filings and any open issues.
- 02
Document
You share documents securely; we reconcile them with AIS, TIS and Form 26AS.
- 03
Process
We prepare the computation, take you through it and file only after your approval.
- 04
Done
You receive the filed return, computation and acknowledgement, and we track the refund or intimation.
FAQ
Income tax return filing: frequently asked questions
Straight answers to the questions we hear most often. Need something specific? Ask us directly.
You must file a return if your total income before certain deductions exceeds the basic exemption limit, or if you meet other conditions set by the law, such as specified high-value transactions or foreign assets. Firms, LLPs and companies must file every year even if they have a loss or no income.
For individuals and others who do not need an audit, the due date is generally 31 July after the end of the financial year. Taxpayers whose accounts must be audited generally have until 31 October. These dates are subject to extensions notified by CBDT.
It depends on your income and taxpayer type. Broadly, ITR-1 and ITR-2 are for individuals without business income, ITR-3 is for individuals with business or professional income, ITR-4 is for eligible presumptive income, ITR-5 is for firms and LLPs, ITR-6 is for companies and ITR-7 is for trusts and similar entities. We confirm the right form before filing.
The new regime is the default and offers lower slab rates with fewer deductions. The old regime may suit people with large eligible deductions. Individuals without business income can generally choose each year, while those with business income have limited options to switch, so we compare both before you decide.
The Annual Information Statement and Form 26AS show the income and taxes that banks, employers and others have reported against your PAN. If your return does not match them, you may receive a notice or a lower refund, so we reconcile them before filing.
You can usually still file a belated return within the time allowed by law, but a late fee and interest may apply, and certain losses cannot be carried forward. Filing on time is the simplest way to avoid these costs.
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