What is the AIS and how is it used in ITR filing?

AIS consolidates salary, TDS, interest, dividends, capital gains, property, and remittance data from reporting entities. All AIS entries must be reconciled and included in the ITR to avoid Section 143(1)(a) mismatch notices.

What happens if an income tax return is not filed?

Late fee up to ₹5,000, interest under Sections 234A/B/C, loss of carry-forward of losses, risk of best judgement assessment, and potential prosecution for wilful non-filing above ₹25,000 tax evaded.

Is advance tax required and what happens if not paid?

Required when estimated tax liability exceeds ₹10,000. Four instalments: June, September, December, March. Shortfall attracts 1% per month interest under Sections 234B and 234C.

Income Tax E-Filing Services in India

Q: Which ITR form should I use?

ITR-1: salaried individuals ≤₹50 lakh. ITR-2: capital gains/foreign income. ITR-3: business/professional income. ITR-4: presumptive taxation. ITR-5: firms/LLPs. ITR-6: companies. ITR-7: trusts and institutions.

Q: Can an ITR be revised after filing?

Yes, under Section 139(5), up to 31 March of the assessment year or completion of assessment, whichever is earlier. The latest revised return supersedes all earlier filings.

Complete Guide to Online Income Tax Return Filing for Individuals, Companies, Firms, Trusts, and NRIs Under the Income Tax Act, 1961

Income tax e-filing is the process of submitting your annual income tax return (ITR) electronically through the Income Tax Department's e-filing portal at incometax.gov.in. Every person whose total income exceeds the basic exemption limit — or who satisfies specific criteria such as having foreign assets, TDS deducted, or being a company or firm — is required to file an income tax return for each financial year. E-filing is mandatory for most categories of taxpayers, including all companies, firms, and individuals with income above the threshold.

The income tax return form applicable depends on the taxpayer's category and the nature of income — ITR-1 for simple salaried income, ITR-2 for capital gains and foreign income, ITR-3 for business and professional income, ITR-4 for presumptive taxation, ITR-5 for firms and LLPs, ITR-6 for companies, and ITR-7 for trusts and institutions. Our income tax e-filing services cover all categories of taxpayers — from salaried individuals and NRIs to companies, trusts, and HUFs — with complete accuracy, timely filing, and full AIS/TDS reconciliation.

Our Income Tax E-Filing Services

Individual & HUF ITR Filing

End-to-end ITR filing for salaried individuals, HUFs, freelancers, and those with rental income, capital gains, or multiple income sources — with Form 16 review, AIS reconciliation, and deduction optimisation.

Business & Professional ITR

Filing of ITR-3 for individuals and HUFs with business or professional income — including Profit and Loss Account preparation, Balance Sheet finalisation, and audit report attachment where required.

Company ITR Filing

Filing of ITR-6 for companies — including reconciliation with financial statements, minimum alternate tax (MAT) computation under Section 115JB, and Schedule AL-1/AL-2 asset and liability disclosure.

NRI Income Tax Filing

Filing of income tax returns for NRIs with Indian-sourced income — salary earned in India, NRO interest, rental income from Indian property, capital gains on Indian assets — with DTAA benefit claims and Schedule FA disclosures.

Trust and Institution ITR

Filing of ITR-7 for charitable trusts, religious institutions, political parties, and educational institutions — with Form 10B or 10BB audit report filing and exemption claims under Sections 11, 12, or 10(23C).

Revised and Belated Returns

Filing of revised returns to correct errors or omissions in previously filed ITRs, and filing of belated returns for taxpayers who missed the original due date — with penalty mitigation advisory.

Key Facts About Income Tax E-Filing

Income tax e-filing is mandatory for all companies, firms, LLPs, and individuals whose income exceeds the basic exemption limit (₹2.5 lakh for below 60, ₹3 lakh for senior citizens)
The due date for most individuals and non-audit cases is 31 July of the assessment year; for audit cases it is 31 October
The Income Tax portal pre-fills ITR data from AIS (Annual Information Statement) — taxpayers should verify and reconcile before filing
The ITR must be e-verified within 30 days of filing — through Aadhaar OTP, net banking, or DSC — without which it is treated as not filed
Interest under Section 234A (1% per month on unpaid tax) applies for late filing; Section 234B/234C applies for shortfall in advance tax payments
A late filing fee of ₹1,000 or ₹5,000 under Section 234F applies for returns filed after the due date but before 31 December of the assessment year
Taxpayers with specified foreign assets or foreign income must file ITR mandatorily — even if total income is below the exemption limit

Frequently Asked Questions

Which ITR form should I use?

The correct ITR form depends on your taxpayer category and income type. ITR-1 (Sahaj) is for resident individuals with income up to ₹50 lakh from salary, one house property, and other sources. ITR-2 is for individuals and HUFs with capital gains, foreign income, or more than one house property. ITR-3 is for individuals and HUFs with business or professional income. ITR-4 (Sugam) is for those opting for the presumptive taxation scheme under Sections 44AD, 44ADA, or 44AE. ITR-5 is for firms, LLPs, and AOPs. ITR-6 is for companies. ITR-7 is for trusts, political parties, and institutions filing under Sections 139(4A) to 139(4F).

What is the Annual Information Statement (AIS) and how is it used in ITR filing?

The Annual Information Statement (AIS), available on the Income Tax e-filing portal, consolidates all financial data reported about a taxpayer — salary, TDS, interest income, dividends, capital gains from securities, property transactions, foreign remittances, and other high-value transactions. The data is sourced from employers, banks, mutual funds, stock exchanges, property registries, and other reporting entities. Before filing an ITR, taxpayers must review their AIS, reconcile it with their own records, and ensure all income reported in AIS is reflected in the return. Discrepancies between AIS and the ITR can trigger automated mismatch notices under Section 143(1)(a).

What is the consequence of not filing an income tax return?

Non-filing of an income tax return when required attracts: (1) a late filing fee of up to ₹5,000 under Section 234F; (2) interest on unpaid tax under Sections 234A, 234B, and 234C; (3) inability to carry forward losses (other than house property losses); (4) risk of a best judgement assessment by the Income Tax Officer under Section 144; and (5) potential prosecution under Section 276CC for wilful non-filing where the tax evaded exceeds ₹25,000. Additionally, non-filing affects loan processing, visa applications, and other financial transactions where ITR acknowledgement is required.

Can an ITR be revised after filing?

Yes. Under Section 139(5), an individual or other taxpayer can file a revised return to correct any error or omission in the original return. A revised return can be filed at any time before the end of the relevant assessment year or before the completion of assessment, whichever is earlier. For example, for FY 2024-25 (AY 2025-26), a revised return can be filed up to 31 March 2026. There is no limit on the number of times a return can be revised within this period. The latest revised return supersedes all earlier returns — including the original — and is treated as the return filed for that year.

Is advance tax payment required and what happens if it is not paid?

Advance tax is the tax paid in instalments during the financial year rather than in a lump sum at year-end. It is required when the estimated tax liability for the year exceeds ₹10,000 (after deducting TDS). Advance tax is payable in four instalments: 15% by 15 June, 45% by 15 September, 75% by 15 December, and 100% by 15 March. Failure to pay advance tax or shortfall in any instalment attracts interest at 1% per month under Section 234B (overall shortfall) and Section 234C (instalment shortfall). Salaried individuals whose TDS covers the full tax liability are generally not required to pay advance tax separately.

File Your Income Tax Return — Accurately, On Time

Expert ITR filing services for individuals, companies, NRIs, trusts, and firms — with complete AIS reconciliation and deduction optimisation.