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Income Tax returns

Filing returns under the Income Tax Act, 1961 is one of the cornerstones of the entire Income Tax laws in India. Filing returns is governed under Section 139 of the Income Tax Act. There are various types of returns under the income tax Act:

  1. Original return
  2. Belated return – Return filed after the due date
  3. Revised return – Return filed after revision of original return

After a preliminary summary assessment, an intimation under section 143 (1) is issued which may either result in no demand or an income tax refund or an income tax demand.

However, if the return filed is defective i.e. certain information is missing or not as per requirements, then a notice for defective return is issued by the jurisdictional income tax officer and the defects have to be corrected by the tax-payer.

Our Direct Tax team at Entrecap has vast experience in the following matters pertaining to income tax returns:

  1. Selection of appropriate form for income tax return under the Income Tax Act/ Rules. This is very much necessary to ensure that returns are processed in time, no notices for defective returns are issued and income tax refunds, if any, are processed quickly.
  2. Ensuring to file all relevant schedules in income tax returns
  3. Ensuring that all available tax credit is taken like TDS on Salaries, TDS on non-Salaries, Other TDS, TCS, Advance tax and self-assessment taxes, brought forward Minimum Alternate Tax (MAT Credit) etc.
  4. Registering the digital signature on income tax site
  5. Completing e-verification of the returns filed.
  6. Other forms to be filled before filing of income tax returns – MAT forms, Tax Audit forms, Transfer pricing returns etc.
Which IT return has to be selected?

Depending on various factors like heads of income, residency status, number of properties, nature and source of income, presumptive business or not etc., individuals should select returns from ITR 1 , ITR 2, ITR 3, ITR 4 etc.

ITR-5 is usually for partnership firms and LLPs.

ITR -6 is usually for Companies.

ITR-7 is generally for non-profit organisations.


The Direct Tax team at Entrecap Business Services has vast experience plus manpower and latest licensed software at its disposal. We shall be happy to assist all entrepreneurs and businessmen for matters pertaining to income tax returns.

For other income tax consultancy, click here.

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