Overview
ITR filing requires accurate reporting of income, deductions, and taxes paid. FinTax Network reviews your documents, prepares the return, checks for refunds or liabilities, and files electronically with acknowledgement. We also provide audit support and rectify notices if any arise.
Which ITR should I file? (ITR-1 to ITR-7)
ITR-1 (Sahaj)
For resident individuals with salary/pension, one house property, interests, and other sources (not eligible for business income).
ITR-2
For individuals/HUFs not having income from business or profession; include capital gains, foreign assets, etc.
ITR-3
For individuals and HUFs having income from proprietary business or profession.
ITR-4 (Sugam)
For presumptive income taxpayers (small businesses/professionals) opting for presumptive taxation.
ITR-5
For firms, LLPs, AOPs, BOIs, and other entities (not companies).
ITR-6
For companies other than companies claiming exemption under Section 11 (charitable).
ITR-7
For persons including companies required to furnish return under sections 139(4A), 139(4B), 139(4C), or 139(4D) (e.g., charitable trusts, political parties).
Benefits of Filing ITR
- Ensures legal compliance and avoids late-filing penalties.
- Facilitates easy visa processing and financial credibility.
- Required for loan approvals, tenders, and credit evaluations.
- Enables refund of excess TDS / advance tax paid.
- Acts as official income proof for business and personal finance.
- Helps maintain a continuous tax record for government benefits.
Documents Required
Form 16 / Salary Slip / Income details
PAN and Aadhaar Card
Bank Statements or Passbook for interest income
Investment Proofs (80C, 80D, NPS, donations etc.)
TDS Certificates / Form 26AS / AIS download
Rent receipts for HRA claim (if applicable)
Books of accounts / profit & loss statement (for business or professionals)
Due Dates & Turnaround Time
- Individuals / HUF / Firms not requiring audit: 31 July of the assessment year.
- Tax Audit cases: 31 October of the assessment year.
- Transfer pricing cases: 30 November of the assessment year.
- FinTax Processing Time: 2 – 3 business days post document submission.
Why Choose FinTax Network
- ✔ Filed over 30,000 returns with 99.7% on-time rate.
- ✔ Team of CA & tax experts review each return manually.
- ✔ Automated document checklist and secure upload link.
- ✔ One-click WhatsApp support with dedicated manager.
- ✔ Post-filing notice handling and rectification included.
Frequently Asked Questions
1️⃣ Who should file ITR?
Any individual, HUF or entity whose income exceeds the basic exemption limit (₹2.5 lakh for individuals below 60) or who wants to claim a refund or carry forward losses must file ITR.
2️⃣ What happens if I miss the due date?
Late filing attracts a penalty under Section 234F and interest on tax due. Belated returns can be filed till 31 December of the assessment year.
3️⃣ Can I file ITR without Form 16?
Yes, by collecting your salary details, bank statements, and Form 26AS/AIS download from the Income Tax portal.
4️⃣ Do I need to report all bank accounts?
Yes, all active bank accounts except dormant ones must be reported for refund processing and verification.
5️⃣ Can NRIs file through FinTax Network?
Absolutely — we support NRI returns including foreign income, DTAA benefits and refund processing to Indian accounts.
6️⃣ Is e-verification mandatory?
Yes, ITR must be verified within 30 days via Aadhaar OTP, net-banking, or by sending signed ITR-V to CPC Bengaluru.
7️⃣ How long does refund take?
Refunds are generally credited within 20 working days after processing by CPC, subject to bank validation and accurate filing.
8️⃣ Can I revise my return?
Yes, revised returns can be filed before 31 December of the assessment year if errors are noticed after original filing.
9️⃣ Is ITR filing different for freelancers or YouTubers?
Yes, freelancers and content creators must report income as business or professional income under Sections 44ADA/44AD, with books or presumptive records.
🔟 What if I receive an IT notice?
FinTax handles notice response, rectification and re-filing with complete CA support to resolve queries promptly.
11️⃣ Are digital signatures required for ITR?
DSC is mandatory only for companies and audited cases; others can e-verify using Aadhaar OTP or bank account.
12️⃣ Can I carry forward losses?
Yes, losses must be declared before the due date to carry forward and set-off against future income (Section 80).
13️⃣ Does FinTax provide bulk or corporate filing?
Yes, we offer corporate packages for bulk employee filing, monthly TDS returns and compliance dashboards.
14️⃣ Is my data safe with FinTax?
All files are encrypted in-transit and at-rest on secure servers. We adhere to data-privacy and confidentiality best practices.
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