What is Individual Income Tax Filing?

Income Tax Filing is the process through which an individual declares their income, deductions, and tax liability to the Income Tax Department of India. It applies to salaried employees, freelancers, business owners, professionals, and even pensioners with taxable income.

Under the Income Tax Act, 1961, individuals must file returns using appropriate forms such as ITR-1 (Sahaj), ITR-2, ITR-3, or ITR-4, based on the income sources. Filing not only ensures legal compliance but also allows you to claim tax refunds, carry forward losses, and prove income for loans, visas, or investments.

Whether your income is from salary, house property, capital gains, or business—our expert service ensures your ITR is filed accurately, on time, and with maximum benefits.

✅ Benefits of Individual Income Tax Filing
🎯 Provide 7 strong benefit points, written from the client’s perspective.

1️⃣ Stay compliant and avoid penalties for non-filing
2️⃣ Claim your TDS refund quickly and accurately
3️⃣ Maximize savings with all eligible deductions (80C, 80D, etc.)
4️⃣ Establish income proof for loans, visas, and financial credibility
5️⃣ Carry forward business or capital losses legally
6️⃣ Get personalized tax planning to reduce future liabilities
7️⃣ Peace of mind with professional support and documentation

📑 Documents Required for Individual Income Tax Filing
📂 List all required documents with relevant emojis and brief explanations.

1️⃣ 🧾 Form 16 – Issued by employer for salaried individuals
2️⃣ 🧾 Form 26AS – Annual consolidated TDS statement
3️⃣ 📊 Salary Slips or Business Income Details – Based on income type
4️⃣ 🏠 Rent Receipts/Home Loan Certificate – For HRA or Section 24(b)
5️⃣ 💼 Investment Proofs – LIC, PPF, ELSS, health insurance, etc.
6️⃣ 🏦 Bank Account & Capital Gain Statements – For interest/dividend/investment income

👤 Eligibility for Individual Income Tax Filing
🧾 Explain in detail who is eligible or required to avail of this service.

You must file an ITR if:

• Your total income exceeds ₹2.5 lakh (below 60 years), ₹3 lakh (60–80 years), or ₹5 lakh (above 80 years)

• You have foreign income or foreign assets

• You are a freelancer, professional, or business owner earning taxable income

• You want to claim a refund on excess TDS

• You have capital gains from shares, property, or crypto

• You're applying for a loan, visa, or subsidy

• You're required to file under the Presumptive Tax Scheme (44ADA/44AE)

Filing an ITR is not just a legal duty, but a smart financial move for all income earners.

🔄 Process of Filing Individual Income Tax Return
🔁 Provide a step-by-step explanation of how the service is executed from start to finish.

1️⃣ Consultation & Profile Review – Understand income sources and filing requirements
2️⃣ Document Collection – Gather Form 16, TDS, investment, and expense proofs
3️⃣ Income Computation – Calculate gross income, exemptions, and deductions
4️⃣ Form Selection – Choose correct ITR form (ITR-1 to ITR-4) as per profile
5️⃣ Return Filing & Submission – File return online and submit to IT portal
6️⃣ Acknowledgement & Follow-up – Share ITR-V/acknowledgment and assist in refund tracking

⏱️ Timeline for Individual Income Tax Filing
⏳ Mention the approximate time it takes to complete the service.

Filing an individual ITR typically takes 2–4 working days, provided all documents are ready.
The last date for filing individual ITR is 31st July of the assessment year. For audit cases, it is extended to 31st October.
Delays can lead to penalties up to ₹5,000, so early filing is recommended.

❓ Frequently Asked Questions (FAQs) about Individual Income Tax Filing

1️⃣ Is ITR filing mandatory for salaried individuals?
Yes, if your annual income exceeds the exemption limit (₹2.5 lakh), you must file an ITR.

2️⃣ Which ITR form should I use?
ITR-1 for salaried individuals, ITR-2 for capital gains, ITR-3 for professionals, and ITR-4 for presumptive income.

3️⃣ Can I file an ITR if I have no taxable income?
Yes. You can file a Nil Return voluntarily for financial proof, loan applications, or record keeping.

4️⃣ What happens if I miss the ITR deadline?
You can still file a belated return, but with penalties and without the option to carry forward losses.

5️⃣ Can I revise my return if I make a mistake?
Yes, revised returns can be filed within the time allowed (currently till 31st December of the assessment year).

6️⃣ Do I need to link Aadhaar with PAN before filing?
Yes, Aadhaar-PAN linking is mandatory for successful ITR filing.

7️⃣ How long does it take to get a tax refund?
Usually, within 7–30 days after successful verification, subject to Income Tax processing.

8️⃣ Can freelancers and gig workers file ITR?
Yes. They must file under ITR-3 or ITR-4, depending on their income method.

9️⃣ Is digital signature required for ITR filing?
No, not for most individuals. Aadhaar OTP or EVC via bank is sufficient.

🔟 Do you offer support for notices or mismatches?
Yes. We help respond to income tax notices, rectify mismatches, and guide on future compliance.