Income Tax Return (ITR Filing) – Sharma & Associates

Income Tax Return (ITR Filing)

Filing Income Tax Return (ITR) is a legal obligation for individuals and businesses earning taxable income. Sharma & Associates provides accurate, timely, and hassle-free ITR filing services with complete compliance.

What is Income Tax Return (ITR)?

Income Tax Return (ITR) is a form used to declare income, expenses, tax deductions, and tax liability to the Income Tax Department of India for a financial year.

Filing ITR not only fulfills legal requirements but also serves as proof of income and financial credibility.

Important: Even if no tax is payable, filing ITR may still be mandatory in certain cases.

Who Should File Income Tax Return?

  • Individuals earning income above basic exemption limit
  • Salaried employees and pensioners
  • Self-employed professionals and freelancers
  • Business owners and entrepreneurs
  • Companies, LLPs, and partnership firms
  • Individuals claiming tax refunds

Types of Income Tax Returns

ITR-1 (Sahaj)

For salaried individuals having income up to ₹50 lakh from salary, one house property, and other sources.

ITR-2

For individuals and HUFs having income from capital gains but not from business or profession.

ITR-3

For individuals and HUFs earning income from business or profession.

ITR-4 (Presumptive)

For taxpayers opting for presumptive taxation scheme under sections 44AD, 44ADA, or 44AE.

Benefits of Filing ITR

  • Compliance with Income Tax laws
  • Easy loan and credit card approvals
  • Claim tax refunds smoothly
  • Proof of income for visa applications
  • Carry forward of losses

ITR Filing Process at Sharma & Associates

Our structured process ensures accuracy, transparency, and timely filing of your income tax return.

  • Understanding income sources and tax applicability
  • Collection and verification of financial documents
  • Computation of tax liability or refund
  • Preparation and filing of ITR
  • Verification of filed return

Documents Required for ITR Filing

  • PAN Card and Aadhaar Card
  • Form 16 / Salary slips
  • Bank statements
  • Investment proofs and deductions
  • Capital gains details, if any

Why Choose Sharma & Associates?

Sharma & Associates is a trusted name in taxation and compliance services, offering personalized solutions for individuals and businesses.

Our experts ensure error-free filing, tax optimization, and complete confidentiality of your financial data.

File Your Income Tax Return with Confidence

Avoid penalties and ensure compliance by filing your Income Tax Return accurately and on time with Sharma & Associates.

File ITR Now