Income Tax Return Filing involves the accurate computation of total income, determination of tax liability and submission of the prescribed return forms within the statutory due dates. The process covers individuals, Hindu Undivided Families, firms, LLPs, companies, trusts and other entities.
Scope of Services
The engagement includes:
Compilation of income under various heads
Computation of deductions, exemptions and tax liability
Reconciliation with Form 26AS, AIS and TIS
Preparation and e-filing of applicable ITR forms
Support for revised and belated returns where required
Key Considerations
Attention is given to:
Correct classification of income and claims
Carry forward of losses and set-off provisions
Reporting of foreign assets and income where applicable
Compliance with disclosure requirements under the Act
Documentation
Supporting records such as Form 16, bank statements, investment proofs and financial statements are reviewed to ensure consistency between the return and underlying data.