Introduction
Income tax filing season is here, and if the thought of navigating tax forms, deadlines, and compliance stresses you out, you’re not alone. But the good news is, SSJ GST Suvidha Kendra is here to make ITR filing and audits effortless, affordable, and completely hassle-free. Our team of experts helps you choose the right ITR form, prepare documents, respond to notices, and even correct errors in previously filed returns. We serve individuals, businesses, and professionals across India through our comprehensive ITR and audit solutions. Whether you earn from salary, business, capital gains, or rental income, we’ve got you covered. Let’s dive into everything you need to know to make your tax filing stress-free this year.
What is Income Tax Return (ITR)?
An Income Tax Return (ITR) is a form that taxpayers in India must file annually to report their income, expenses, deductions, and tax liability to the Income Tax Department. Filing an ITR is not just a compliance requirement—it’s a crucial step to claim refunds, avoid penalties, and maintain a clear financial record for purposes like applying for loans, visas, or business tenders. Different taxpayers—from salaried individuals and pensioners to businesses and trusts—are required to file different ITR forms based on their income sources and thresholds. Filing your ITR accurately ensures that your taxes are calculated correctly, and you stay compliant with Indian tax laws.
ITR filing is now fully digital, which means you can file your returns from the comfort of your home. However, understanding which form to use and what documents are needed can be confusing, especially if you have multiple income sources or complex financial transactions. This is where professional services like SSJ GST Suvidha Kendra come in, making the process smooth, fast, and error-free. Remember: an incorrect or late ITR can lead to hefty fines, loss of refunds, or even prosecution in extreme cases. That’s why knowing your obligations and getting them right on time is essential.
Types of ITR Forms
Choosing the right ITR form is the first and most important step in filing your taxes accurately. Each form caters to specific income types and taxpayer categories. Filing the wrong form can make your return invalid. Let’s break down each form:
ITR-1: For Salaried Individuals
ITR-1 (Sahaj) is the simplest ITR form designed for resident individuals earning:
- Salary or pension income,
- One house property income,
- Other sources (like interest, dividends) where total income is under ₹50 lakhs.
If you meet these criteria, ITR-1 is your best choice. It’s quick, easy, and perfect for straightforward incomes.
ITR-2: For Capital Gains and House Property
ITR-2 is for individuals and Hindu Undivided Families (HUFs) with:
- Income from capital gains,
- More than one house property,
- Foreign income/assets,
- Total income exceeding ₹50 lakhs.
Salaried individuals with significant investments or rental properties should use ITR-2 to disclose capital gains and comply with tax rules.
ITR-3: For Business or Profession
ITR-3 is meant for:
- Individuals/HUFs with income from proprietary business or profession,
- Partners in firms,
- Those earning commissions or income exceeding ₹50 lakhs.
It’s best suited for professionals like doctors, lawyers, freelancers, and entrepreneurs with more complex financial transactions.
ITR-4: For Small Businesses & Professionals
ITR-4 (Sugam) is a simplified return for:
- Residents, HUFs, and firms (other than LLPs),
- Businesses/professions opting for presumptive income scheme (sections 44AD, 44ADA, 44AE),
- Annual income up to ₹50 lakhs.
ITR-4 saves time by allowing taxpayers to declare income at a fixed percentage of turnover, avoiding the need to maintain detailed books.
ITR-5: For Firms & LLPs
ITR-5 is designed for:
- Partnerships,
- Limited liability partnerships (LLPs),
- Association of persons (AOPs),
- Body of individuals (BOIs).
It accommodates complex income and expenses structures unique to firms and partnerships, ensuring accurate tax liability calculations.
ITR-6: For Companies
ITR-6 is mandatory for companies registered under the Companies Act that do not claim exemption under Section 11 (income from property held for charitable or religious purposes). This form is filed electronically and requires detailed disclosures of:
- Income,
- Expenditure,
- Tax computation,
- Balance sheet,
- Profit and loss statements,
- Audit reports (if applicable).
Businesses with high turnovers or those needing statutory audits must use ITR-6. Filing errors can attract intense scrutiny from tax authorities, so it’s wise to get professional help like what we offer at SSJ GST Suvidha Kendra.
ITR-7: For Trusts & Institutions
ITR-7 is for entities required to file returns under sections 139(4A) to 139(4F) of the Income Tax Act, including:
- Charitable/religious trusts,
- Political parties,
- Scientific research institutions,
- Universities or colleges.
These organizations must provide extensive details on income, expenditures, donations received, and application of funds. Compliance mistakes can jeopardize tax exemptions, so expert support is essential.
ITR-U: For Updated Returns
ITR-U is a recent addition allowing taxpayers to update or correct ITRs for previously filed years within 24 months of the end of the relevant assessment year. It’s meant for individuals or HUFs who missed disclosing income or made errors in earlier returns. It promotes voluntary compliance and helps avoid prosecution. Filing an ITR-U correctly can reduce penalties and interest liabilities. Our experts can help you file ITR-U seamlessly, ensuring all discrepancies are fixed.
How to Correct an ITR
Mistakes happen. From typos in your PAN number to omitting income details, errors in your ITR can lead to notices, penalties, or even prosecution in severe cases. Thankfully, the Income Tax Department allows taxpayers to rectify mistakes by filing a revised return. Here’s how it works:
- Eligibility: If you filed your original return on or before the due date, you can file a revised return anytime before the completion of the assessment or before 31st December of the relevant assessment year.
- Process:
- Log in to your income tax e-filing account,
- Choose “Revised Return”,
- Provide details of your original ITR filing (acknowledgement number & date),
- Make necessary corrections,
- Submit revised ITR online.
Key things to remember:
- Multiple revisions are allowed before the deadline.
- If your revised return still has mistakes, you can submit another revision.
- Always verify your revised ITR within the deadline to make it valid.
At SSJ GST Suvidha Kendra, we assist you through every step, helping you amend mistakes quickly and avoid legal hassles.
Responding to Income Tax Notices
Receiving a notice from the Income Tax Department can be nerve-wracking, but don’t panic—it doesn’t always mean something is wrong. Notices can be issued for various reasons:
- Mismatch in income details,
- Discrepancies between TDS/TCS and reported income,
- Failure to file ITR,
- Selection for scrutiny or reassessment.
Ignoring a notice can lead to severe consequences, including hefty fines or prosecution. Here’s what you should do:
- Read carefully: Check the section under which the notice was issued (e.g., 139(9) for defective return, 143(1) for intimation, 143(2) for scrutiny).
- Respond on time: Each notice has a deadline for response. Missing it can escalate matters.
- Provide supporting documents: Upload proof like bank statements, Form 16, TDS certificates, or transaction records.
- Consult an expert: Some notices, like scrutiny under Section 143(2), require a detailed explanation and representation before the assessing officer.
Our tax professionals at SSJ GST Suvidha Kendra specialize in handling notices and drafting precise, timely responses, saving you from unnecessary stress.
Required Documents for Different ITR Forms
Proper documentation is key to a smooth filing process. Missing or incorrect documents can delay filing or lead to rejection of your return. Here’s a detailed list based on ITR forms:
Documents for ITR-1 (Salaried/1 House Property/Other Sources)
- PAN Card and Aadhaar Card,
- Form 16 from employers,
- Details of deductions under Chapter VI-A (80C, 80D, etc.),
- Bank statement/passbook for interest income,
- Income details from other sources (e.g., FD interest),
- User ID & password for income tax portal (if registered).
Documents for ITR-2 (Capital Gains/Multiple Properties)
- PAN & Aadhaar Card,
- Mobile number & email ID,
- Bank statement/canceled cheque,
- Capital gains statements (shares, mutual funds, property sales),
- Details of income from other sources (lottery, horse racing, puzzles),
- Deduction proofs (insurance, investments),
- User ID & password for income tax portal.
Documents for ITR-3/4 (Proprietor Business & Professionals)
- PAN Card (personal & business),
- Aadhaar Card,
- Income statement (profit & loss account),
- Balance sheet,
- 26AS form (for TDS verification),
- Details of expenditures (including bills, rent receipts, invoices),
- Fixed assets and depreciation schedules,
- Salary details of employees, if any,
- Personal & business loan statements,
- Bank statements for all business accounts.
Documents for ITR-5 (Firms/LLPs)
- Firm’s PAN Card,
- Aadhaar & PAN Cards of partners,
- Partnership deed copy,
- Balance sheet & profit & loss account,
- Bank statements/passbooks,
- GST login credentials,
- Income tax login credentials.
Understanding DRC-03 Filing
DRC-03 is a voluntary payment form used under GST law when a taxpayer wishes to pay tax, interest, penalty, or any other dues either:
- Before the issuance of show-cause notice (SCN) under Section 73 or 74,
- Or after noticing an error in GST returns or transactions.
Essentially, DRC-03 enables businesses to proactively rectify mistakes like underreported sales or tax liabilities without waiting for GST department action. It helps you stay compliant and avoid heavier penalties or litigations.
To file DRC-03, you need:
- GST portal login credentials,
- Calculation of tax or interest amount payable,
- Selection of the relevant reason for payment (e.g., voluntary payment, audit findings, annual reconciliation),
- Payment through the electronic cash or credit ledger.
The process can be tricky if you’re not familiar with GST rules. That’s why at SSJ GST Suvidha Kendra, we assist you step-by-step—from assessing liabilities accurately to submitting DRC-03—so you stay in the good books of the tax authorities.
Income Tax and GST Audit Assistance
Audits can be stressful for any taxpayer—be it a small firm or a large enterprise. The Income Tax Act and GST Act require taxpayers crossing certain turnover limits to undergo audits and submit detailed reports. Here’s what you need to know:
- Income Tax Audit: Mandated under Section 44AB for individuals, firms, or companies if turnover exceeds ₹1 crore (or ₹50 lakhs for professionals). Auditors verify accounts, books, and compliance with tax rules.
- GST Audit: Required if annual aggregate turnover crosses ₹5 crore. A GST auditor examines returns, reconciliations, and ensures adherence to GST law.
Audits involve:
- Detailed scrutiny of financial statements,
- Verification of invoices, vouchers, and records,
- Reconciliation of tax liabilities with payments,
- Preparation of audit reports like Form 3CD (for income tax) or GSTR-9C (for GST).
At SSJ GST Suvidha Kendra, we offer comprehensive audit support—from preparing records, liaising with Chartered Accountants, to filing final reports—so you can focus on your business without worrying about tax hassles.
Pricing for ITR Filing Services at SSJ GST Suvidha Kendra
We understand that every taxpayer has unique needs. That’s why we offer transparent, affordable pricing for all types of ITR filing—now at double the listed rates as per your request. Here’s our updated pricing list:
| Service | ETA | Price (INR) |
|---|---|---|
| ITR-U FY 2022-2023 (Govt. Fee Extra) | 5 Days | ₹1,600 |
| Advance Tax | 4 Days | ₹600 |
| ITR-U FY 2023-2024 (Govt. Fee Extra) | 4 Days | ₹1,600 |
| ITR (Salaried/1 Property/Other Source) – ITR-1 | 5 Days | ₹690 |
| ITR (Capital Gain/House Property/Other Source) – ITR-2 | 5 Days | ₹984 |
| ITR (Proprietor Business & Profession) – ITR-3/4 | 5 Days | ₹984 |
| ITR-5 (Firms/LLP) | 5 Days | ₹3,600 |
| ITR Correction | 5 Days | ₹1,354 |
| ITR (Response to Notice) | 5 Days | ₹500 |
| CA Certification of ITR | 6 Days | ₹2,000 |
| ITR (Form 10E) | 5 Days | ₹1,200 |
| ITR Certification Up to 20 Lakhs | 5 Days | ₹2,000 |
Our prices are designed to keep high-quality tax services within your reach—so you never have to choose between accuracy and affordability.
Pricing for Audit Services at SSJ GST Suvidha Kendra
For businesses and professionals subject to audits, here’s our revised pricing—doubled from original rates as requested:
| Audit Service | ETA | Price (INR) |
|---|---|---|
| Income Tax Audit (1-2 Cr Turnover) Delhi/NCR | 22 Days | ₹25,000 |
| Income Tax Audit (2-5 Cr Turnover) Delhi/NCR | 22 Days | ₹34,000 |
| Income Tax Audit (5-10 Cr Turnover) Delhi/NCR | 22 Days | ₹50,100 |
| GST Audit Up to 5 Cr | 22 Days | ₹24,838.16 |
| GST Audit (5-10 Cr Turnover) | 22 Days | ₹33,118.16 |
For specialized cases or turnovers beyond ₹10 crores, we offer customized pricing. Reach out for a personalized consultation.
Benefits of Filing ITR with SSJ GST Suvidha Kendra
Filing your ITR through SSJ GST Suvidha Kendra comes with several benefits:
- Accurate Filings: Avoid mistakes that can lead to notices or penalties.
- Expert Support: Our team of tax professionals guides you through each step.
- Timely Submission: We help you meet deadlines, so you avoid late fees.
- Affordability: Transparent pricing with no hidden costs.
- One-Stop Solution: From choosing the right form to responding to notices and audits, we handle everything under one roof.
Whether you’re a salaried individual, freelancer, business owner, or a large firm, our services are designed to cater to your unique needs with ease.
Why Timely Filing of ITR Matters
Procrastinating on ITR filing can have serious repercussions:
- Penalties: Up to ₹10,000 if you file after the due date.
- Interest: Delays attract interest on unpaid taxes under Section 234A.
- Loss of Refunds: Missed deadlines mean you lose your chance to claim TDS refunds.
- Legal Troubles: Continuous non-compliance can result in prosecution.
- Loan & Visa Applications: Financial institutions and embassies often require ITRs from the last 2-3 years as proof of income.
Filing on time is not just about avoiding fines—it’s about securing your financial credibility.
Common Mistakes to Avoid During ITR Filing
Even small errors can derail your filing. Watch out for:
- Choosing the wrong ITR form,
- Missing income sources (e.g., bank interest, side gigs),
- Entering incorrect PAN or bank details,
- Skipping deductions you’re eligible for,
- Failing to reconcile Form 26AS with your declared income,
- Not verifying your ITR after filing—unverified returns are treated as not filed.
Working with professionals ensures you sidestep these costly mistakes.
How to Choose the Right ITR Form
Choosing the right ITR form depends on:
- Income Sources: Salary, house property, business, capital gains, or foreign income.
- Total Income: Income thresholds determine whether you should file ITR-1, ITR-2, or others.
- Residential Status: NRIs have specific rules impacting the choice of form.
- Type of Entity: Individuals, HUFs, firms, and companies use different forms.
Still confused? Our team at SSJ GST Suvidha Kendra will analyze your income details and recommend the right ITR form to ensure your filing is accurate and compliant.
Conclusion
Navigating income tax returns and audits can feel overwhelming, but it doesn’t have to be. With the right partner, you can transform a stressful process into a smooth, straightforward experience. At SSJ GST Suvidha Kendra, we’re committed to simplifying tax compliance for individuals, professionals, and businesses—no matter how simple or complex your financial situation is. Let our experts handle your ITR filings and audits with accuracy, transparency, and care. Book your service today at www.gst.ssjdeveloper.com and experience peace of mind this tax season.