Income Tax Return Service in India
The right form, the right regime and every eligible deduction, filed within the due date.
Filing Is Easy. Filing Correctly Is a Different Matter
The mechanics of filing a return have become straightforward. The judgement calls have not. Which form applies once you have capital gains or foreign assets, whether the old or new regime leaves you better off, how to treat a house property that was let for part of the year, and whether what your employer reported matches what the department already knows.
The Income Tax Department now pre-populates a great deal from annual and information statements. That helps, but it also means any divergence between your return and the department’s records is visible immediately – and mismatches are among the most common reasons returns are picked up.
MPVD & Associates provides an income tax return service covering salaried individuals, professionals, businesses, firms and companies, with the return reviewed by a Chartered Accountant before it is filed.
Returns We Prepare and File
The correct form depends on the nature of your income and your status, and using the wrong one can render a return defective.
- Salaried individuals – including those with income from more than one employer, house property, or income from other sources.
- Individuals with capital gains – shares, mutual funds, property and other assets, with holding periods and indexation applied as the law provides.
- Professionals and freelancers – including those eligible to declare income on a presumptive basis.
- Businesses and proprietorships – with business income computed from books, and tax audit particulars incorporated where applicable.
- Partnership firms, LLPs and companies – entity returns with the associated computations, disallowances and schedules.
- Non-residents – see our NRI tax consultant services for treaty positions and non-resident specifics.
Every return is reconciled against the annual tax statement and information statements before filing, so credits claimed match what has actually been reported against your PAN. This single step prevents a large share of the notices that follow filing.
What Our Return Service Includes
Form Selection
The correct return form identified for your income profile, so the return is not treated as defective and returned to you weeks later.
Regime Comparison
Old and new regime computed side by side on your actual numbers, so the choice is made on arithmetic rather than assumption.
Statement Reconciliation
Income and tax credits reconciled against the annual tax statement and information statements before filing, so mismatches are resolved in advance.
Deductions and Exemptions
Every eligible deduction and exemption identified and supported, rather than only those your employer happened to account for.
Capital Gains Computation
Gains computed with correct holding periods, cost of acquisition and available exemptions, including reinvestment reliefs where they apply.
Filing and Verification
The return filed within the due date and verification completed – an unverified return is treated as never having been filed at all.
Our Income Tax Return Process
Step 1 – Collecting Your Information
Salary particulars, deduction certificates, capital gains statements, bank interest, rental income and investment proofs. We send a checklist tailored to your situation rather than a generic list.
Step 2 – Reconciling With Department Records
We pull your annual tax statement and information statements and reconcile them against what you have given us. Differences are investigated before filing, not after a notice arrives.
Step 3 – Computation and Regime Choice
Income is computed under both regimes where the choice is available, and you are shown the outcome of each so the decision is informed.
Step 4 – Review and Filing
A Chartered Accountant reviews the return, you approve the computation, and the return is filed within the due date applicable to you.
Step 5 – Verification and Follow-Up
Verification is completed, refunds are tracked, and any subsequent intimation or notice is reviewed and responded to.
Who Needs to File a Return
Filing is required where total income before deductions exceeds the basic exemption limit, and in a number of other situations regardless of income level – including where you hold foreign assets or signing authority over a foreign account, and where certain high-value transactions or deposits have taken place during the year.
It is often worth filing even when not strictly required. A return is the only way to claim a refund of tax deducted in excess, it is needed to carry losses forward, and it is routinely requested for visa applications and loan approvals.
What Happens If You File Late
- Late filing fee – levied under the Income Tax Act where the return is filed after the due date, with the amount depending on total income.
- Interest – charged on tax remaining unpaid, running from the due date.
- Losses cannot be carried forward – most losses other than house property loss are lost if the return is filed after the due date.
- Refunds delayed – processing starts later, and interest on the refund may be reduced.
- Belated and updated returns – filing after the due date remains possible within the periods the Act allows, subject to conditions and additional tax in some cases.
Why Choose MPVD & Associates
Returns are prepared by a Chartered Accountancy firm that also handles assessments and notices, so they are prepared with an eye on how they will be read by the department.
- Reconciled before filing. Mismatches with department records are the leading cause of post-filing notices, and we resolve them first.
- Regime decided on numbers. Both computed, both shown to you.
- Qualified review. Every return is reviewed by a Chartered Accountant before submission.
- Notices covered. If an intimation or notice follows, we deal with it rather than treating it as new work.
- Filed nationwide. Fully online, wherever you are.
Frequently Asked Questions
Our experienced company audit and taxation professionals help you navigate complex tax laws and regulatory requirements. Contact us today to schedule a consultation.
File Your Income Tax Return With Confidence
Tell us your income sources for the year and we will send a tailored checklist, reconcile against department records and file the correct return within the due date.