Overview
What Is Income Tax Return Filing?
An income tax return is your annual statement to the Income Tax Department of what you earned, the deductions you claim and the tax you have paid. Whether you are an individual, professional, firm or company, filing the correct return — with the right form and accurate figures — is both a legal obligation and a practical necessity.
Timely, accurate filing avoids late fees and interest, lets you carry forward losses, ensures you claim every eligible deduction, and produces the return records lenders, embassies and tender authorities routinely ask for. We select the correct ITR form, reconcile your data (including Form 26AS and AIS), maximise legitimate deductions and file on time.
Who Needs This Service
- Salaried individuals and professionals
- Businesses, firms, LLPs and companies
- Individuals with capital gains or multiple income sources
- Anyone needing return records for loans, visas or tenders
Key Benefits
- Correct ITR form and accurate computation
- Maximum eligible deductions claimed
- On-time filing — no late fees or interest
- Loss carry-forward preserved
- Records ready for loans, visas and tenders
Which ITR Form Suits Which Taxpayer
The form depends on the taxpayer and the income. Confirm forms for the year.
| Form | Typical taxpayer |
|---|---|
| ITR-1 | Resident individual with salary, one house property and other simple income |
| ITR-2 | Individual or HUF with capital gains and no business income |
| ITR-3 | Individual or HUF with business or professional income |
| ITR-4 | Taxpayer opting for presumptive taxation |
| ITR-5 | Firms and LLPs |
| ITR-6 | Companies |
| ITR-7 | Trusts and institutions |
Documents & Eligibility
| Item | Details |
|---|---|
| Income | Salary/Form 16, business financials, capital-gains and other income details. |
| Tax & deductions | Form 26AS, AIS, TDS certificates and investment/deduction proofs. |
| Eligibility | For all taxpayers; the correct form depends on income type and taxpayer status. |
Our Process — Step by Step
- Data collection — Gather income, deduction and tax-paid details.
- Reconciliation — Match with Form 26AS and the Annual Information Statement (AIS).
- Computation — Compute income and tax, applying all eligible deductions.
- Filing & verification — File the correct ITR and complete e-verification.
- Acknowledgement — Provide the filed return and acknowledgement for your records.
Original, Belated, Revised and Updated Returns Compared
Different returns fit different situations.
| Return | When it is filed |
|---|---|
| Original | By the due date |
| Belated | After the due date, within the allowed window |
| Revised | To correct an earlier return |
| Updated | To report income that was missed, within the prescribed window |
How KVA Handles Income Tax Return Filing
Karthick Vijayakumar & Associates, Company Secretaries, supports you through each stage with a single point of contact and a clear record of what has been done.
| Step | Stage | What KVA does |
|---|---|---|
| 1 | Requirement review | We understand your entity, objective and timeline, and confirm what Income Tax Return Filing involves for your specific facts. |
| 2 | Document checklist | You receive a clear list of documents, particulars and approvals needed, with gaps flagged early. |
| 3 | Preparation and filing | Our team prepares, reviews and files the required forms and records, and tracks each acknowledgement. |
| 4 | Completion and follow-up | We hand over final records and explain the compliance that follows, so nothing is missed afterwards. |
Why Karthick Vijayakumar & Associates
The right form, reconciled to 26AS and AIS, with every legitimate deduction claimed — filed on time so losses carry forward and no late fee ever applies.
Work is handled by company secretaries who deal with statutory filings and governance every day.
Timelines for Income Tax Return Filing are tracked so that approvals and filings do not slip.
Plain-language updates at each stage, with no guesswork about what is pending.
Organised, decision-ready documentation that supports audits, banks and future filings.
Frequently Asked Questions
Filing is required if your income exceeds the basic exemption limit, and in various other cases (such as certain high-value transactions), regardless of income. Companies and firms must file regardless of profit or loss.
Late filing can attract a late fee and interest, and you may lose the ability to carry forward certain losses. Filing within the due date avoids these consequences.
The correct form depends on your taxpayer type and income sources — salary, business, capital gains, and so on. Using the wrong form can make a return defective, so correct selection matters.
Form 26AS and the Annual Information Statement (AIS) are records maintained by the tax department of your TDS, taxes paid and reported financial transactions. Your return should reconcile with them to avoid mismatches and notices.
Yes. Karthick Vijayakumar & Associates is a firm of Company Secretaries based in Chennai, Tamil Nadu, serving clients across India. We handle income tax return filing for businesses in Chennai, throughout Tamil Nadu, and pan-India — with filings done online with the MCA, ROC and other authorities, so your location is no barrier.
It depends on the category of taxpayer and the audit requirement, and the Government may extend the dates. We confirm the date for each client before the filing season.
Not always, but returns are mandatory in some cases such as high-value transactions, foreign assets or when claiming refunds or carrying forward losses.
Usually ITR-1 or ITR-2, depending on the sources of income, such as capital gains, foreign assets or more than one house property.
ITR-3 or ITR-4 for individuals and HUFs with business income, ITR-5 for firms and LLPs and ITR-6 for companies, depending on the case.
Yes, within the time allowed by law, if an error or omission is found in the original return, and an updated return facility also exists in some cases.
The process of confirming the return after filing, through Aadhaar OTP, net banking, EVC or a signed copy sent to the department within the time limit.
An unverified return is treated as not filed, which can lead to penalties, loss of carry-forward benefits and difficulty in claiming a refund.
By filing the return with correct bank details, which must be pre-validated, and e-verifying it. The refund is then processed after verification.
PAN, Aadhaar, Form 16 or salary details, bank statements, TDS certificates, investment proofs, capital gains statements, and details of foreign assets where relevant.
Residents who hold foreign assets or income must disclose them in the return as required, even if no tax arises, and non-disclosure can attract penalties.
Certain losses can be carried forward to later years only if the return is filed on time and the other statutory conditions are satisfied.
Late filing is allowed within the time limit in the law, with fees and interest, and old defaults should be assessed individually.
Through the capital gains schedule, using the broker or fund statements, with the holding period and cost details.
Yes. Companies and LLPs must file returns every year, irrespective of profit or loss.
A report by a chartered accountant on the accounts of a taxpayer who meets the audit conditions, filed before the due date of the return.
Talk to a Company Secretary today.
File your ITR accurately and on time.
Contact UsSpeak with Karthick Vijayakumar & Associates
Third Floor, New No. 599, Old No. 230, Konnur High Road, Ayanavaram, Chennai, Tamil Nadu, 600023, India
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