Income Tax Return Help

Free Income Tax Return Help For First Time Tax Payers:

We provide free online consultation. If you have any questions related to income tax return filing in India, ask our experts.

You can also avail our tax return filing service. Our charges for Salary return filing is Rs.500. For others we charge Rs.1000.

First, let's see for what purpose, we are filing tax return?

Income Tax Return Help Income Tax Return Help

Under the Income Tax Act, an assessment is required to be made for determining the tax liability of an assessee or the loss incurred by him for carry forward and set-off.

Assessment, under the Act, would therefore involve computing the total income of the assessee. The Assessing Officer cannot on his own compute the total income of each and every person falling within his jurisdiction.

Hence, the duty has been cast on certain classes of persons to declare their income, by filing the return of income.

On this page:

Normal Return

The following persons are required to file the return of income under section 139: -

Having Taxable Income

  1. A company or firm, irrespective of whether they earn income or loss,

  2. A person (other than company or firm), whose total income during the previous year exceeds exemption limit, ,

  3. Every person, being an Individual, or a HUF, or an AOP or BOI, or an AJP, shall if his total income before giving effect to provisions under sections 10A, 10B or 10BA or Chapter VI-A, exceeds the exemption limit.

Having Losses

Any person who has incurred loss under the head 'Profits and Gains of Business of Profession' or 'Capital Gains' in the previous year and claims that the loss should be carried forward under,

  1. Business Losses, or

  2. Speculation Business Losses, or

  3. Capital Loss, or

  4. Activity of Owning and Maintaining Race Horses.

Charitable Or Religious Trust

Every charitable or religious trust/institution, if its total income before claiming exemption under sections 11 or 12, exceeds the exemption limit.

Political Party

Every political party, if its total income before claiming exemption under sections 13A, exceeds the exemption limit.

Trusts, Institutions, Agencies

Every trust, institution, agency, etc., if its total income exceeds the maximum amount not chargeable to income-tax before claiming exemption under,

  1. Section 10(21) - Scientific Research Association, or

  2. Section 10(22B) - News Agency, or

  3. Section 10(23A) - Trade or Professional Associations/Institutions, or

  4. Section 10(23B) - Trust/Society for promotion of Khadi/Village Industries, or

  5. Section 10(23C) - Educational or Medical Institution or certain other Charitable Institution, or

  6. Section 10(24) - Trade Union/Associations, or

  7. Section 10(46) - Any Body or Authority or Board or Trust or Commission (by whatever name called) referred therein, or

  8. Section 10(47) - Infrastructure Debt Fund.

Universities And Colleges

Every university, college or other institution referred to in section 35(1)(ii) or section 35(1)(iii), which is not required to file return of income or loss under any of the categories above.

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Income Tax Return Help - Belated Return

The due date for filing 'Normal Return' is as under: -

Assessee Type Due Date
Any assessee required to furnish report referred to in section 92E November 30
Company September 30
Person, other than a company, whose accounts are required to be audited under this Act, or under any other law for the time being in force. (Tax Audit Cases) September 30
A working partner of a firm, where the firm's accounts are required to be audited under this Act, or under any other law for the time being in force. September 30
Others July 31

Any person who has not furnished his return, within the time allowed to him mentioned above, or in response to a notice under section 142(1), may furnish the return at any time before the expiry of one year from the end of the relevant assessment year or the completion of assessment whichever is earlier.

For example, if you failed to file your return for the AY 2012-13, on or before 31st July-2012, you can file your belated return on or before, 31st March, 2014.

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Income Tax Return Help - Revised Return

  • In case if you filed your tax return within the time allowed to you as mentioned above, or

  • if you filed your return in response to a notice under section 142(1),

and if you realised any omission or any wrong statement therein, you may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or the completion of assessment whichever is earlier.

A loss return can be revised, as it is treated as a normal return filed under section 139(1).

Belated returns filed, cannot be revised.

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Income Tax Return Help Returns In Response To Notices

When you failed to furnish your return of income within the time allowed, the Assessing Officer may serve a notice under section 142(1) requiring you to furnish the return of your total income or the total income of any other person in respect of whom you are assessable.

Where the assessing officer is in the process of making assessment, he shall before making any assessment/reassessment serve a notice under section 148(1) requiring you to furnish a return of income.

Similarly, where a search has been initiated under section 132, or requisition under section 132A has been made on a person, before making any assessment, the assessing officer shall issue a notice under section 153A(a) requiring him to furnish the return of income.

While making an assessment under section 153C on a person, other than the person who had been searched, a similar notice is to be issued requiring such other person to furnish the return of income.

All these returns are required to be furnished within the date specified on the respective notices.

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Income Tax Return Help Defective Return

What is defective return?

Where the Assessing Officer considers that the return of income furnished by you is defective, he may intimate the defect to you and give you an opportunity to rectify the defect within a period of fifteen days from the date of such intimation.

And if the defect is not rectified within fifteen days, then, the return shall be treated as an invalid return and the provisions of this Act shall apply as if you have failed to furnish the return.

Provided that where you rectify the defect after the expiry of the said period of fifteen days or the further period allowed, but before the assessment is made, the Assessing Officer may condone the delay and treat the return as a valid return.

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Return Forms

We have already posted a detailed article on "Which ITR forms should be used"? to file your return.

There are no specific forms prescribed for belated and revised returns. However, these are provisions enabling the assessees to furnish the return after due date or to rectify the defects found in the returns filed within due date. Hence, it can be taken that the same forms can be used for belated and revised tax return filing.

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