Income Tax Returns

Every Individual / HUF assessees having a gross total income of more than Rs. 2, 50,000 during the year are compulsorily required to file Income Tax Returns. However, a person may voluntarily file income tax returns to avail various benefits. The due date to file income tax returns for individuals and HUF is 31 st July. It is advisable to file income tax returns within the due date to avoid late filing fees and penalties.

If you want to carry forward your losses it is necessary to file the income tax within the due date. Income tax return for a particular assessment year cannot be filed after the end of the assessment year. It is beneficial to file income tax returns to get a refund of the TDS deducted. There is no separate income tax return for the proprietary business.

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Benefits of filing for IT returns

Loans

Bank loans like education loans, vehicle loans, and personal loans, can be easily availed as they require the past three years IT returns.

Avoid late Filing Fees

Heavy amounts would be charged for non-filing of income tax returns, and hence, it is always better to file it to avoid legal repercussions.

Visa

As immigration centers scrutinize many documents and IT returns, proofs are a mandatory document for visa applicants.

Process to file Income Tax Returns for individual / HUF /Proprietor

Information Collection

The first step is the collection of all the necessary information you will need to file your ITR.

Tax Computation

After the information is collected, we will compute your total taxable income and tax liability.

Computation Review

We shall send the draft
computation for your
review.

Frequently Asked Questions

What documents do I need to submit?

A document checklist will be emailed to you after you’ve purchased a plan. You can upload them on our 128-bit SSL encrypted document vault on your ClearTax Account.

I have purchased a business tax filing plan. What do I do next?

Once your purchase a tax filing plan, you will receive an email requesting documents to help us with your return. We will assign you a tax expert. You need to login to your ClearTax Account and upload the required documents.

Can I expense the cost of the ClearTax Plan?

Yes, you can deduct this expense from your Business Income in your income return

I have filed my own returns but need help to file for my spouse/friend. How can you help?

No sweat. You can use our plan selector to determine the right plan for your spouse or friend and recommend them to purchase the same. Alternatively, you can pay on their behalf.