Income Tax Return filing in Mohali, Kharar & Chandigarh.

Frequently asked

Common questions about ITR filing.

01

What is the last date to file my ITR for AY 2026-27?

For individuals and HUFs not subject to tax audit, the due date is 31 July 2026. For assessees requiring a Section 44AB audit (business turnover above ₹1 crore or professional receipts above ₹50 lakhs), the date extends to 31 October 2026. A belated return can be filed up to 31 December 2026 with a late fee under Section 234F.

02

Do I need to file a return if my employer has already deducted TDS?

Yes, if your gross total income before deductions exceeds the basic exemption limit (₹2.5 lakhs under the old regime, ₹3 lakhs under the new regime), filing is mandatory. TDS deduction by your employer is not a substitute for filing the return — it is a credit against the final tax liability computed at filing.

03

What is the Annual Information Statement (AIS) and why does it matter?

The AIS is a consolidated record the Income Tax Department maintains for every PAN, capturing bank deposits, mutual fund transactions, property registrations, dividends, foreign remittances, and high-value purchases. Your return is automatically cross-checked against AIS data. Any unexplained variance can trigger a defective return notice or scrutiny. We reconcile your return against AIS before submission.

04

Can my return be filed without Form 16?

Yes. If Form 16 is unavailable, we compute salary income from monthly salary slips, the bank credit history, and Form 26AS (which captures every TDS entry). The same return form applies; only the data source changes.

05

What happens if I miss the 31 July 2026 deadline?

A belated return can still be filed up to 31 December 2026, but with a late filing fee under Section 234F (₹1,000 if total income is up to ₹5 lakhs, ₹5,000 above that). You also lose the right to carry forward certain losses (capital losses, business losses) — losses can only be carried forward if the return is filed by the original due date.

06

I am an NRI. Do I need to file an ITR in India?

If you have any income that is earned or accrued in India — rental income, capital gains on Indian shares or mutual funds, interest from NRO accounts, or pension from an Indian employer — filing is required. We determine your residential status, apply DTAA relief where applicable, and file Form 67 for foreign tax credit claims.

07

I trade in equity and F&O. Which ITR form applies?

Equity delivery gains are capital gains; equity intraday is speculative business income; F&O is non-speculative business income. The presence of any business income mandates ITR-3. Where F&O turnover exceeds the Section 44AB threshold, a tax audit becomes applicable. We assess turnover, classify each income head correctly, and determine audit applicability at intake.

08

How do I choose between the old and new tax regime?

The new regime offers lower slab rates but removes most deductions and exemptions (HRA, 80C, 80D, home loan interest, etc.). For filers with significant deductions, the old regime often produces a lower liability; for filers with few structured deductions, the new regime is typically advantageous. We compute the exact liability under both regimes and share a written comparison before filing.

09

I received an income tax notice. Can you help?

Yes. Notices arise most commonly from AIS mismatches, defective return flags under Section 139(9), or intimation under Section 143(1). Each notice has a defined response window and a specific compliance path. Share the notice via WhatsApp — we will review the section, the cause, and the response required.