Overview
An Income Tax Return (ITR) is the annual statement of your income, deductions and tax paid, filed with the Income Tax Department. Filing on time keeps you compliant, lets you claim refunds of excess TDS, carry forward losses, and gives you the income proof needed for loans, visas and tenders.
From 1 April 2026 the Income-tax Act, 2025 replaces the 1961 Act. Returns for FY 2025-26 (AY 2026-27), due in 2026, are still filed under the old Act; income earned from 1 April 2026 onward ("Tax Year 2026-27") is governed by the new Act. We handle both and keep your filings consistent through the transition.
PADM India prepares and e-files returns for salaried employees, pensioners, freelancers and professionals, proprietors, partnership firms, LLPs and companies, and handles TDS/TCS returns, advance-tax planning, notices and rectifications.
Who needs this service
- Salaried employees and pensioners (ITR-1 / ITR-2), including those with capital gains or more than one house property
- Freelancers, consultants, doctors, lawyers and other professionals (ITR-3 / ITR-4 presumptive)
- Proprietors and small businesses, including presumptive taxation under sections 44AD / 44AE
- Partnership firms, LLPs and private limited companies (ITR-5 / ITR-6), with or without tax audit
- NRIs with Indian income, and residents with foreign income or assets
- Anyone who has received a notice, wants a refund followed up, or needs to file a belated, revised or updated return
Eligibility & legal requirements
Filing is compulsory if any of the following applies to you for the year. If none applies you may still file voluntarily — it is often worth it for refunds and records.
Eligibility rules for ITR Filing & Taxation
| Category | Rule |
|---|
| Income above the basic exemption limit | Gross total income (before deductions) exceeds ₹4,00,000 under the new (default) regime, or ₹2,50,000 under the old regime (₹3,00,000 for residents aged 60–79 and ₹5,00,000 for 80+). |
|---|
| Refund of TDS / TCS | Tax was deducted or collected at source and you want it back — a return is the only way to claim it. |
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| Carry-forward of losses | You want to carry forward a capital loss, business loss or house-property loss to set off in later years. |
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| Specified high-value transactions | Deposited over ₹1 crore in current accounts, spent over ₹2 lakh on foreign travel or over ₹1 lakh on electricity, or crossed the turnover / TDS thresholds notified under the seventh proviso to section 139(1). |
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| Foreign assets or income (residents) | You hold any foreign bank account, shares, property or signing authority abroad — filing is mandatory regardless of income. |
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| Companies, firms and LLPs | Must file every year irrespective of profit or loss. |
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How to apply — step by step
The official procedure, and how PADM India runs it for you.
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01
Share your documents
Send us your Form 16 / 16A, AIS & Form 26AS (we can download these from the portal with your consent), bank statements, capital-gains statements, rent receipts and investment proofs.
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02
We compute and compare
We reconcile every income line with AIS/26AS, compute tax under both the new and old regimes, and tell you which regime saves more before we file. (You can preview this yourself with our Income Tax Calculator.)
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03
Review the draft return
You receive a plain-English summary and the draft ITR for approval. Nothing is filed until you confirm.
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04
E-file and e-verify
We file on the Income Tax e-filing portal and complete e-verification (Aadhaar OTP, net-banking or DSC) within the 30-day window so the return is not treated as invalid.
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05
Refund tracking and after-care
We track the intimation under section 143(1) (section 270 of the 2025 Act), follow up refunds, and respond to any defective-return or mismatch notice at no extra charge for the same return.
Documents required
- PAN and Aadhaar (linked), active mobile number and e-mail
- Form 16 from each employer; Form 16A/16B/16C for other TDS
- Annual Information Statement (AIS) and Form 26AS
- Bank statements / interest certificates for all savings and deposit accounts
- Capital-gains statements from brokers and mutual-fund RTAs (CAMS / KFintech)
- Rent receipts and landlord PAN (for HRA), home-loan interest certificate
- Investment proofs — LIC, PPF, ELSS, NPS, health insurance (old regime only)
- Books of account / P&L and balance sheet for business or professional income
- Details of foreign assets, foreign income and unlisted shares, if any
Key deadlines & penalties
Due dates for FY 2025-26 (AY 2026-27) unless extended by CBDT:
Key deadlines for ITR Filing & Taxation
| Compliance | Due |
|---|
| ITR-1 / ITR-2 — salaried, pensioners, investors (no audit) | 31 July 2026 |
| ITR-3 / ITR-4 — business or profession, no tax audit | 31 August 2026 (new from Budget 2026) |
| Tax-audit report (Form 3CA/3CB-3CD) | 30 September 2026 |
| Audit cases, companies and partners of audited firms | 31 October 2026 |
| Transfer-pricing cases (Form 3CEB) | 30 November 2026 |
| Belated or revised return | 31 December 2026 |
| Updated return (ITR-U) | Up to 48 months from the end of the assessment year (31 March 2031 for AY 2026-27), with additional tax |
| Advance tax instalments | 15 June (15%), 15 September (45%), 15 December (75%), 15 March (100%) |
See every due date in the Tax & Compliance Calendar
If you miss it:
- Late-filing fee under section 234F: ₹5,000 (₹1,000 if total income is up to ₹5 lakh) — for belated returns
- Interest under sections 234A/234B/234C (sections 423–425 of the 2025 Act) for late filing and advance-tax shortfall
- Losses (other than house-property loss) cannot be carried forward if the return is filed late
- Wilful non-filing can attract prosecution under section 276CC in serious cases
Frequently asked questions
The new regime is the default from FY 2023-24. Salaried taxpayers can switch to the old regime each year in the return; taxpayers with business income can opt out only once. We compute both and recommend the lower-tax option.
Yes — filing a return is the only way to get the refund, and it usually takes 2–6 weeks after e-verification.
₹75,000 under the new regime and ₹50,000 under the old regime for salary and pension income, applied automatically.
Yes. We reply to section 139(9) defective-return notices, 143(1) mismatches, 148 reassessment notices and e-proceedings, and represent you before the assessing officer where needed.
Yes — quarterly TDS/TCS statements (24Q, 26Q, 27Q, 27EQ; renumbered Forms 138/140/144/143 under the 2026 Rules), Form 16/16A generation and correction statements.
Sources & official references
Thresholds, forms and due dates on this page reflect the law as verified on 6 September 2026 and may change with Finance Acts, CBDT/CBIC notifications or MCA circulars. This page is general information, not legal or tax advice — please confirm your specific position with us before acting.
Ready to get started with ITR Filing & Taxation?
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