Income Tax Return (ITR) filing is a legal obligation for individuals and businesses earning above the basic exemption limit. Filing your ITR on time not only ensures compliance but also helps you claim refunds, carry forward losses, and maintain a clean financial record for loans and visas.
SPOTON's tax team handles ITR filing for salaried individuals, freelancers, proprietors, partnership firms, LLPs, private limited companies, and NRIs. We ensure accurate computation of income, maximum deductions under Sections 80C, 80D, HRA, LTA and more, and timely e-filing before the due date.
Key Benefits
Accurate FilingWe review all income sources — salary, business, capital gains, rental — for accurate reporting.
Maximum RefundsWe identify every eligible deduction to minimise your tax liability and maximise refunds.
Avoid PenaltiesLate ITR filing attracts penalties up to ₹5,000 under Section 234F — we prevent that.
Income ProofITR serves as income proof for loans, visa applications, and tenders.
Carry Forward LossesTimely ITR filing allows you to carry forward capital losses and business losses to future years.
NRI FilingWe handle ITR for NRIs including foreign income disclosure, DTAA benefits and TRC.
Eligibility & Requirements
Individuals with gross income above ₹2.5 lakh (₹3 lakh for 60-80 yrs; ₹5 lakh for 80+ yrs)
All companies and LLPs (regardless of profit or loss)
Partnership firms and proprietorships with business income
Persons with foreign assets or foreign income
Persons claiming treaty benefits under DTAA
Anyone who wants to carry forward a loss
Step-by-Step Process
1
Income Assessment
We assess all your income sources — salary, business, capital gains, rental, other sources.
2
Deduction Planning
We identify all eligible deductions (80C, 80D, 80G, HRA, LTA, home loan interest etc.).
3
Tax Computation
We compute your total tax liability including TDS credit and advance tax paid.
4
Form 26AS Verification
We reconcile your Form 26AS / AIS to ensure TDS is correctly reflected.
5
E-Filing
We prepare and e-file your ITR on the Income Tax portal and obtain acknowledgment (ITR-V).
6
Refund Tracking
We monitor and update you on your refund status.
Documents Required
PAN card and Aadhaar card
Form 16 (for salaried) or Form 16A (for TDS certificates)
Bank statements for the financial year
Investment proof (LIC, ELSS, PPF, home loan statement etc.)
Capital gains statement (for property, shares, mutual funds sold)
Rent receipts (if claiming HRA)
Profit & Loss statement (for business income)
Need help gathering documents? Our team will send you a personalised checklist and guide you through document preparation — just WhatsApp or call us.
Frequently Asked Questions
For individuals (non-audit cases): 31 July. For businesses requiring tax audit: 31 October. For transfer pricing cases: 30 November. Belated returns can be filed up to 31 December with a penalty.
Yes — a belated return can be filed by 31 December of the same assessment year with a late fee of ₹5,000 (₹1,000 if income is below ₹5 lakh). Losses cannot be carried forward in a belated return.
ITR-1 (Sahaj) is for individuals with salary income, one house property, and other income up to ₹50 lakh. ITR-2 is used if you have capital gains. ITR-3 or ITR-4 if you have business income.
Yes, if your gross income exceeds the basic exemption limit. Filing allows you to claim a refund if excess TDS was deducted and also maintains your compliance record.
NRIs must file ITR in India if their Indian income (salary, rent, capital gains) exceeds ₹2.5 lakh, if they have a TDS refund claim, or if they have Indian assets. SPOTON handles NRI ITR filing.
