Income Tax Services

ITR Filing, TDS Compliance, and Legal Tax Optimization

Overview

Income tax filing is a mandatory annual legal requirement for all qualifying individuals, partnerships, HUFs, and corporate entities in India. At Dhalkari & Bhawalkar, we act as your personal tax advisor and filing consultant, helping you file accurate returns while maximizing eligible deductions under the law.

Whether you need assistance choosing between the New and Old Tax Regimes, filing TDS returns, or managing assessment notices from the Income Tax department, our experienced CAs provide strategic, compliance-backed advisory services.

Key Income Tax Verticals
  • Income Tax Return (ITR) Filing: Verification of documents and precise e-filing for ITR-1 to ITR-7.
  • Strategic Tax Planning: Advising on legal investment routes to minimize tax liability.
  • TDS Return Filing: Ensuring accurate calculations, deductions, and quarterly filing of TDS returns.
  • Representation & Assessment: Formulating legal drafts and representing clients before tax authorities.

Benefits

  • Tax Liability Reduction: Discover legal deductions under Chapter VI-A (Sections 80C, 80D, HRA, home loan interest, NPS, etc.) to minimize liability.
  • Zero Penalty Assurance: Avoid late fees (under Section 234F) and interest charges by filing accurately within statutory due dates.
  • Faster Refund Auditing: Ensure bank validations are complete so that excess TDS is refunded directly into your account without delays.
  • Financial Health & Verification: Filed ITR receipts are crucial for securing bank loans, visa applications, and establishing financial credibility.

Process

  1. Document Collection & Analysis: We collect salary proofs (Form 16), investment receipts, bank interests, and reconcile them with your AIS (Annual Information Statement) and TIS.
  2. Tax Computation: We calculate your income under standard heads, apply eligible exemptions and deductions, and compute tax under both regimes to identify the most beneficial option.
  3. Filing & E-verification: We upload your return via the income tax portal and assist you in completing the mandatory e-verification process within the 30-day window.

Required Documents

  • PAN and Aadhaar card details.
  • Form 16 (for salaried individuals) or Form 16A (for non-salary income).
  • Annual Information Statement (AIS) & Taxpayer Information Summary (TIS).
  • Bank statements showing interest income.
  • Details of capital gains (mutual fund statements, property sale agreements).
  • Investment proofs (ELSS, insurance premium, home loan interest certificate, tuition fees).

Timelines

  • Salaried Individuals & Non-Audit Cases: ITR filing due date is July 31 of the assessment year.
  • Audit Cases (Businesses/Partnerships): Due date is October 31 of the assessment year.
  • Quarterly TDS Returns: Due by July 31 (Q1), October 31 (Q2), January 31 (Q3), and May 31 (Q4).

Frequently Asked Questions

The choice depends on your eligible exemptions and deductions. The New Tax Regime offers lower slab rates but does not allow common deductions like Section 80C, 80D, HRA, and home loan interest. The Old Tax Regime allows these deductions but has higher tax rates. As a rule of thumb, if your total deductions exceed ₹3.75 lakhs, the Old Tax Regime may be more beneficial. We run a dual-computation check for every client to confirm the best option.

The AIS is a detailed statement compiled by the Income Tax Department that tracks your entire financial history during the year, including TDS, TCS, high-value cash transactions, dividend income, mutual fund transactions, and bank interest. Reconciling your ITR with the AIS is mandatory because any mismatch between your declared income and the AIS data will trigger automated notices from the department.

If you discover an omission or error in your filed ITR, you can rectify it by filing a Revised Return under Section 139(5). A revised return must be filed before December 31 of the relevant assessment year, and it completely overrides the original filing.
Optimize Your Taxes Today

Schedule an online or offline tax consultation with our CAs in Nashik or Pune to plan your tax savings and file your returns seamlessly.

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