Income Tax Return Filing in Ranihati Howrah West Bengal
File your Income Tax Return accurately and on time with expert guidance from Bharat Tax Consultants in Ranihati, Howrah and West Bengal. We serve salaried individuals, self-employed professionals, traders and businesses across Howrah and West Bengal — ensuring maximum savings and zero penalties.
What is Income Tax Return (ITR) Filing?
An Income Tax Return (ITR) is a form filed with the Income Tax Department of India that declares your income earned during a financial year, the taxes paid on it, and any refund due to you. Filing an ITR is mandatory for individuals, firms, companies, and other entities whose income exceeds the basic exemption limit.
Even if your income is below the taxable limit, filing an ITR voluntarily is highly beneficial — it serves as proof of income, helps in obtaining loans and visas, and allows you to carry forward losses to future years. Bharat Tax Consultants ensures your return is filed correctly, maximising deductions and minimising your tax liability legally.
Which ITR Form Applies to You?
The Income Tax Department prescribes different ITR forms based on the nature and source of your income:
| ITR Form | Applicable To |
|---|---|
| ITR-1 (Sahaj) | Resident individuals with salary, one house property, and other income up to ₹50 lakh |
| ITR-2 | Individuals / HUFs with income from capital gains, foreign assets, or more than one house property |
| ITR-3 | Individuals / HUFs with income from business or profession (non-presumptive) |
| ITR-4 (Sugam) | Individuals, HUFs, and firms opting for presumptive taxation under Sections 44AD, 44ADA, 44AE |
| ITR-5 | Partnership firms, LLPs, AOPs, BOIs, and other entities (not companies or trusts) |
| ITR-6 | Companies other than those claiming exemption under Section 11 |
| ITR-7 | Persons and companies required to file under Sections 139(4A) to 139(4F) — trusts, political parties, etc. |
Who Must File an Income Tax Return?
- Individuals with gross total income exceeding the basic exemption limit (₹2.5 lakh for general / ₹3 lakh for senior citizens / ₹5 lakh for super senior citizens)
- Companies and firms — mandatory irrespective of profit or loss
- Individuals who have deposited more than ₹1 crore in a current bank account during the year
- Individuals who have incurred foreign travel expenses exceeding ₹2 lakh or paid electricity bills over ₹1 lakh
- Individuals claiming refund of TDS / TCS deducted from their income
- Individuals with assets or financial interest outside India
- Anyone who wishes to carry forward losses to subsequent years
Documents Required
- PAN Card and Aadhaar Card
- Form 16 (issued by employer for salaried individuals)
- Form 16A / 16B / 16C (TDS certificates from banks, property buyers, etc.)
- Form 26AS and AIS / TIS (Annual Information Statement) from income tax portal
- Bank account statements for all accounts held during the year
- Interest certificates from banks and post offices
- Investment proofs for deductions — LIC, PPF, ELSS, NSC, home loan certificate, etc.
- Capital gains statements from brokers or mutual fund houses (if applicable)
- Profit & loss account and balance sheet (for business / professional income)
- Rent receipts or rental income details (if applicable)
Key Deductions We Help You Claim
- Section 80C: Up to ₹1.5 lakh — LIC, PPF, ELSS, EPF, NSC, tuition fees, home loan principal
- Section 80D: Health insurance premiums for self, family, and parents (up to ₹75,000)
- Section 80E: Interest on education loan — full deduction for up to 8 years
- Section 80G: Donations to approved charitable institutions (50% or 100% deduction)
- Section 24(b): Interest on home loan — up to ₹2 lakh for self-occupied property
- Section 80TTA / 80TTB: Interest on savings account — up to ₹10,000 (₹50,000 for senior citizens)
- Section 87A Rebate: Full tax rebate for individuals with taxable income up to ₹5 lakh (old regime)
- HRA Exemption: House Rent Allowance exemption for salaried employees paying rent
Our ITR Filing Process
- Document Collection: You share your documents with us — Form 16, bank statements, investment proofs — via email or WhatsApp.
- Income & Deduction Analysis: We review all sources of income, verify TDS credits in Form 26AS, and identify every eligible deduction to minimise your tax.
- ITR Preparation: The correct ITR form is selected and prepared with full accuracy, ensuring all schedules are completed as per your income profile.
- Client Review: We share a detailed computation sheet for your review — showing income, deductions, tax payable or refund due — before filing.
- E-filing & Verification: The return is filed on the Income Tax e-filing portal and e-verified using Aadhaar OTP or net banking. You receive the ITR acknowledgement (ITR-V) immediately.
- Refund Follow-up: If a refund is due, we track its status and follow up with the department on your behalf.
Consequences of Not Filing ITR
- Late Filing Penalty: ₹1,000 if income is up to ₹5 lakh; ₹5,000 for income above ₹5 lakh under Section 234F
- Interest on Tax Due: 1% per month under Section 234A on unpaid tax from the due date
- Loss of Carry Forward: Losses under capital gains, business, etc. cannot be carried forward if return is filed late
- Prosecution: Willful failure to file ITR can attract prosecution under Section 276CC of the Income Tax Act
- Difficulty in Loan / Visa Processing: Banks and embassies routinely ask for ITR copies as income proof
Frequently Asked Questions
Is it mandatory to file ITR if my employer has already deducted TDS?
Yes, if your total income exceeds the basic exemption limit, you must file an ITR even if TDS has been deducted by your employer. Filing also allows you to claim a refund if excess TDS was deducted, and to declare other income sources such as interest, rent, or capital gains.
What is the difference between the Old Tax Regime and the New Tax Regime?
The Old Tax Regime allows you to claim various exemptions and deductions (HRA, 80C, 80D, etc.) but has higher slab rates. The New Tax Regime offers lower slab rates but most exemptions and deductions are not available. We analyse your income profile and recommend the regime that results in lower tax for you.
Can I file a revised return if I made a mistake?
Yes, a revised return can be filed before 31st December of the assessment year if you discover any error or omission in your original return. There is no penalty for filing a revised return. We assist in identifying errors and filing the revised return promptly.
How long does it take to get an ITR refund?
After e-filing and e-verification, refunds are generally processed within 15 to 45 days, provided your bank account is pre-validated on the income tax portal. Delays can occur if there is a mismatch in TDS details or if the return is selected for scrutiny.