Tax & Accounting

Income Tax Return (ITR)

An Income Tax Return (ITR) is filed annually on the Income Tax e-filing portal by individuals, firms, LLPs, companies and other taxpayers. The form depends on the taxpayer: ITR-1 and ITR-2 for individuals, ITR-3 and ITR-4 for business or professional income, ITR-5 for firms and LLPs, ITR-6 for companies and ITR-7 for those claiming Section 11 exemption. For AY 2026-27, sources give due dates of 31 July (ITR-1 and 2), 31 August (non-audit ITR-3 and 4) and 31 October (companies and audit cases). A belated return can be filed up to 31 December 2026 with a Section 234F fee and Section 234A interest.

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Service Overview

What is Income Tax Return (ITR)?

An income tax return is the statement of income, deductions and tax paid that a person furnishes to the Income Tax Department under Section 139 of the Income Tax Act, 1961 for an assessment year. It is used to compute the tax payable or refund, carry forward losses and serve as income proof for loans and visas. Filing in the wrong form can make the return defective under Section 139(9).

ITR-1 (Sahaj) is for resident individuals with income up to Rs 50 lakh, one house property and limited long-term capital gains. ITR-3 and ITR-4 are for business or professional income, with ITR-4 for presumptive taxation. ITR-5 is for partnership firms and LLPs, and ITR-6 for companies.

Income Tax Return (ITR)

Who Needs This Service

Individuals, HUFs, proprietors, partnership firms, LLPs and companies whose income exceeds the exemption limit need to file. People with losses to carry forward, foreign assets or refund claims should also file.

Businesses and professionals should keep books and, where required, tax audit reports, before filing.

Salaried individuals with simple income can use ITR-1, while those with capital gains or business income need other forms.

If you missed the due date, a belated return can still be filed, with fees and interest.

Key Benefits

Right ITR form and deadline for your category
Accurate computation and deductions
E-verification and refund tracking
Support for audit cases and belated returns
Notice response

Next Steps & Related Services

After filing, track refunds and respond to notices.

Related services: TDS Return, GST Return, Accounting and PAN Registration.

Common Mistakes

Choosing the wrong ITR form.
Missing tax audit deadlines.
Not reconciling AIS and Form 26AS.
Forgetting e-verification.
Ignoring notices.

Timeline, Costs & Practical Tips

Key dates include 31 July, 31 August and 31 October depending on the taxpayer.

Practical tip: reconcile AIS and Form 26AS before filing.

Additional Information

Section 139 of the Income Tax Act requires returns, and Sections 234A and 234F provide interest and fee for delays.

Practical Scenarios

Scenario 1:

A salaried person files ITR-1.

Scenario 2:

A freelancer files ITR-4.

Scenario 3:

A company files ITR-6 with audit.

Practical Guidance

Choosing and filing the correct ITR form is half the work of tax compliance. Match your income sources to the form: salary and limited other income for ITR-1, capital gains or multiple properties for ITR-2, business or profession for ITR-3 or ITR-4, firms and LLPs for ITR-5 and companies for ITR-6. Reconcile your return with AIS and Form 26AS, keep proof of deductions, and e-verify promptly. Audit cases have an earlier audit report deadline and a later return deadline, so plan the timeline backwards from 31 October.

Written By

Raghav Sharma

Operations Executive

10+ Years Experience

As seen on

Raghav Sharma has 10+ years of experience covering Company Registration - Operation, MCA Services - Operation, Corporate Operation, Import Export Services - Operation, Goverment Licence Services - Operation, FSSAI - Operation, SEBI - Operation, Labour Compliance - Operation, Fund Raising - Operation, Licence & Certificate - Operations.

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Frequently asked questions

Need clarity?

Which form is for companies?

ITR-6.

What is the late fee?

Rs 1,000 or Rs 5,000 depending on income, plus interest.

Until when can I file a belated return?

Up to 31 December of the assessment year.

Do I need to e-verify?

Yes, to complete filing.

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