Talk to a specialist about income tax filing.
WhatsApp for a Free ConsultationUnderstanding Income Tax Filing
Income Tax Return (ITR) filing is the annual process by which taxpayers declare their income, deductions, and tax liability to the Income Tax Department of India. It is mandatory for individuals, Hindu Undivided Families (HUFs), companies, LLPs, trusts, and other entities whose income exceeds the basic exemption limit — and in many cases, even when it does not.
India's income tax framework covers a wide range of income heads: salary, house property, capital gains, business or profession, and other sources. Each taxpayer's situation is unique — salaried employees have different obligations from business owners, and an NRI faces additional complexities around foreign income, DTAA benefits, and repatriation rules.
At Pixelex, we don't just upload your Form 16 to a portal. We review your complete financial picture, identify every deduction and exemption available to you, ensure accurate computation across all income heads, and file your return on time — every year.
Why This Matters
- Legal Obligation: ITR filing is mandatory for anyone whose income exceeds the basic exemption limit, or who meets certain other criteria (foreign travel, high-value transactions, etc.).
- Refund Claims: Accurate filing ensures you receive any TDS refund you are entitled to.
- Loan & Visa Applications: Banks and visa authorities routinely ask for ITR acknowledgements as proof of income.
- Carry Forward Losses: Filing on time allows you to carry forward capital losses and business losses to offset future income.
- Avoid Penalties: Late filing attracts fees under Section 234F. Non-filing can result in notices, penalties, and prosecution in serious cases.
- Clean Tax Record: A consistent filing history builds your creditworthiness and standing with the Income Tax Department.
Who Needs This Service?
- Salaried individuals (with or without Form 16)
- Freelancers, consultants, and gig workers
- Business owners — proprietors, partners, directors
- High-net-worth individuals with capital gains, rental income, or multiple income sources
- Non-Resident Indians (NRIs) with India-source income
- Companies, LLPs, and other corporate entities
- Trusts, NGOs, and societies with tax obligations
Why Choose Pixelex
- We go beyond Form 16: Many CA firms simply auto-fill Form 16 data. We review your entire income picture — including investments, savings account interest, rental income, and capital gains — to ensure nothing is missed and nothing is over-reported.
- Deduction optimisation: We identify every deduction you are legitimately entitled to — from 80C to 80D to 80TTA and beyond — so you pay no more tax than you legally must.
- Notice handling: If you receive a tax notice (Section 139(9) defective return, Section 143(1) intimation, Section 148 etc.), we handle the response on your behalf.
Our Process
- 01
Document Collection
We provide a simple checklist of required documents: Form 16, bank statements, capital gain statements (from broker/demat), rent receipts, investment proofs, and any other relevant documents.
- 02
Income Computation
We compute your total income across all heads — salary, business, capital gains, property, and other sources — applying applicable deductions under Chapter VI-A (80C, 80D, 80G, etc.) and exemptions.
- 03
Review & Explanation
Before filing, we present a summary of your income, deductions, and tax payable. You know exactly what we are filing and why.
- 04
Filing
We file your ITR on the Income Tax e-filing portal and share the acknowledgement (ITR-V) with you immediately.
- 05
Verification & Refund Tracking
We guide you on e-verification of your return and track your refund status, if applicable.
Frequently Asked Questions
Which ITR form should I file?
The applicable form depends on your income type and sources. ITR-1 is for salaried individuals with simple income; ITR-2 covers capital gains; ITR-3 is for business/professional income; ITR-4 is for presumptive income; ITR-5, 6, and 7 are for firms, companies, and trusts respectively. We determine the correct form for you.
What is the due date for filing an ITR?
For individuals (non-audit cases): 31st July of the assessment year. For businesses requiring audit: 31st October. For companies and other entities: as notified. Due dates may be extended by the government — we track and notify you.
What happens if I miss the filing deadline?
A belated return can be filed up to 31st December of the assessment year with a late fee under Section 234F (₹1,000 if total income ≤ ₹5 lakhs; ₹5,000 otherwise). Interest under Section 234A also applies on any tax due.
I received a notice from the Income Tax Department. What should I do?
Do not panic and do not ignore it. Contact us immediately with a copy of the notice. We assess the nature of the notice and prepare a comprehensive, accurate response. Many notices are routine — they simply require you to confirm information already on record.
Can I file returns for previous years?
Updated returns (ITR-U) can be filed up to two years from the end of the relevant assessment year in certain cases. We advise on eligibility and process.
What documents do I need for ITR filing?
Common documents include Form 16, Form 26AS (TDS credit statement), AIS (Annual Information Statement), bank statements, capital gains statements, rent receipts, investment proofs (PPF, LIC, ELSS, etc.), and loan statements for home/education loan deductions.