Shweta Saboo & Co.

Individual Income Tax Filing

Filing Income Tax Returns (ITR) is a legal obligation for every individual whose income exceeds the basic exemption limit as prescribed under the Income Tax Act, 1961. Filing returns not only ensures compliance with the law but also helps claim refunds, carry forward losses, and build a credible financial record for loan approvals, visa processing, and future investments.

Whether you are a salaried employee, freelancer, professional, or a business owner, timely and accurate income tax filing saves you from penalties and helps optimize your tax liabilities legally.

Our expert-assisted filing services ensure 100% accuracy, maximize eligible deductions, and make the process fast, secure, and hassle-free.

Key Features

Comprehensive ITR Filing

Support for all types of individual ITRs (ITR-1, ITR-2, ITR-3, ITR-4) based on your income sources.

Maximize Deductions and Exemptions

Proper tax planning to claim deductions under Sections 80C, 80D, 80G, and more.

Error-Free Filing

Ensure correct income reporting, deductions, and e-verification to avoid notices from the Income Tax Department.

Quick Refund Claims

Track and assist in getting faster tax refunds directly credited to your bank account.

Handling Multiple Income Sources

Filing for individuals having salary income, house property income, capital gains, freelancing income, or other sources.

Foreign Income & NRI Filing

Specialized assistance for resident individuals with global income or Non-Resident Indians (NRIs).

E-verification and Acknowledgment

Complete filing with online e-verification using Aadhaar OTP, Netbanking, or EVC (Electronic Verification Code).

Information Checklist

Personal Information:

PAN Card
Aadhaar Card
Bank Account Details (for refund credit)

Income Details:

Salary slips/Form 16 from employers
Bank Interest Certificates (Savings, Fixed Deposits)
Rental Income Details (if any)
Capital Gains Details (Shares, Mutual Funds, Property sales)
Freelancing or Business Income (if applicable)

Deduction Documents:

Life Insurance Premium Receipts
Investment Proofs under Section 80C (PF, PPF, ELSS, etc.)
Health Insurance Premium (80D)
Education Loan Interest Certificates (80E)
Home Loan Interest Certificate (Section 24)

FAQs

Who is required to file an Income Tax Return (ITR) in India?

Any individual whose total income exceeds the basic exemption limit (₹2.5 lakh for individuals below 60 years, ₹3 lakh for senior citizens, and ₹5 lakh for super senior citizens) must file an ITR.

What are the different ITR forms for individuals?

ITR-1 (Sahaj) for salaried individuals, ITR-2 for individuals with capital gains or multiple properties, ITR-3 for individuals earning business/professional income, and ITR-4 (Sugam) for presumptive income taxpayers.

Is it mandatory to file ITR if there is no taxable income?

Not mandatory, but advisable if you want to claim a refund, carry forward losses, or maintain a record for visa, loan, or government tender applications.

What happens if I file my ITR after the due date?

Late filing can attract a penalty of up to ₹5,000 under Section 234F. You may also lose the benefit to carry forward certain losses.

What is Form 16?

Form 16 is a TDS certificate issued by an employer detailing the salary paid and TDS deducted. It is a key document for salaried individuals to file their ITR.

What documents are needed to claim deductions under Section 80C?

Proof of investments such as LIC premium receipts, ELSS mutual fund statements, PPF deposit proof, NSC certificates, school fee receipts, and home loan principal payment certificates.

How can I verify my ITR after filing?

You can e-verify your ITR using Aadhaar OTP, Netbanking, Electronic Verification Code (EVC), or by sending a signed ITR-V to the CPC Bengaluru by post.

How long does it take to get an income tax refund?

Generally, refunds are processed within 20-45 days after successful e-verification, depending on the complexity of the return and assessment by the Income Tax Department.

Is Aadhaar linking mandatory for filing ITR?

Yes, it is mandatory to link Aadhaar with PAN for filing Income Tax Returns as per current Income Tax Department regulations.

Can I revise my Income Tax Return after filing?

Yes, if you discover any mistake after filing, you can file a revised return before the end of the relevant assessment year.