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Statutory Practice Division

Income Tax Return (ITR) Filing — Salaried, Sec 44AD & Capital Gains

End-to-end Income Tax Return (ITR-1 to ITR-7) filing with expert direct tax advisory. Dedicated solutions for Salaried employees (Form 16), Presumptive Business (Section 44AD / 44ADA), and Share / F&O Trading (Capital Gains). 100% AIS/26AS reconciliation and fastest refund processing.

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Direct Tax e-Filing Portal

File Income Tax Return: Salaried, Sec 44AD & Capital Gains

CBDT Portal e-Filing • Senior CA Review
ITR-1 / ITR-2Salaried
Salaried (Form 16)

For corporate & salaried employees. HRA, 80C/80D deductions & regime comparison.

₹999/ All-inclusive
Apply Salaried (₹999)
Zero Audit
ITR-4 SugamSec 44AD
Presumptive Business

For small retailers, freelancers & traders. Declare 6%/8% profit. No balance sheet needed.

₹1,999/ All-inclusive
Apply Sec 44AD (₹1,999)
ITR-2 / ITR-3Trading
Capital Gains & F&O

For equity intraday, F&O derivatives, crypto, property & 8-year loss carry-forward.

₹2,999/ All-inclusive
Apply Trading (₹2,999)
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Direct Tax & Corporate StrategyISO 9001:2015 Compliant Practice

Authoritative Corporate & Individual Income Tax Return Practice

Filing an authoritative income tax return requires complete synchronization between statutory earnings, tax accounting standards (ICDS), and the CBDT digital e-filing portal. Under Section 139 of the Income-tax Act, 2025 (Income-tax Act, 1961), every individual taxpayer, salaried employee, business proprietor, LLP, and corporate enterprise must file a zero-defect return within statutory deadlines. Our direct tax practice delivers streamlined, partner-reviewed filing tracks for Salaried individuals (Form 16 optimization), Small Business proprietors under Section 44AD / 44ADA presumptive taxation, and Stock Market investors with Capital Gains & F&O trading losses.

Contents:§Statutory Authority🏛Official Portals⚙4-Stage Pipeline📊Compliance Matrix📑Required Documents⏱Filing Deadlines❓Statutory FAQs
Statutory Governing Section Quoted
Income-tax Act, 2025 (Income-tax Act, 1961)

Section 139(1) read with Rules 12 & 12A:Statutory Income Tax Return Finalization & E-Filing

End-to-end statutory preparation and e-filing of Income Tax Returns across forms ITR-1 through ITR-7 for corporations, LLPs, partnership firms, trusts, and high-net-worth individuals, incorporating complete capital gains calculations, loss set-offs, Section 80 deductions, and foreign asset disclosures (Schedule FA).

Statutory Scope & ApplicabilityAll Indian companies, firms, LLPs (mandatory filing regardless of profit/loss), and individuals whose total income exceeds the basic exemption threshold or who satisfy Section 139(1) seventh proviso conditions.
Default Consequence & ExposureLate filing fee up to ₹5,000 under Section 234F, forfeiture of carry-forward of business losses under Section 80, interest @ 1% per month under Section 234A, and prosecution risk under Section 276CC.
01

Salaried ITR Filing (Form 16 & New vs Old Regime Optimization)

For salaried employees, corporate executives, and professionals, we parse Form 16 and salary certificates to algorithmically compare tax liability under the New Concessional Tax Regime (Section 115BAC) versus the Old Tax Regime. We maximize eligible deductions including House Rent Allowance (HRA under Section 10(13A)), Home Loan Interest (Section 24(b)), Section 80C provident fund/insurance deductions, Section 80D medical insurance, and NPS contributions under Section 80CCD(1B), ensuring you receive your maximum statutory refund without processing delays.

02

Section 44AD & 44ADA Presumptive Business Scheme (ITR-4 Sugam)

Small business proprietors, retailers, digital freelancers, contractors, and independent consultants can avoid the burden and expense of maintaining extensive statutory books of accounts. Under Section 44AD, eligible businesses with turnover up to ₹2 Crore (enhanced to ₹3 Crore for digital receipts) can declare presumptive taxable profits at 6% on digital turnover and 8% on cash turnover. Under Section 44ADA, professionals with gross receipts up to ₹75 Lakhs can declare a 50% presumptive profit. This grants complete legal exemption from maintaining books under Section 44AA and statutory tax audits under Section 44AB.

03

Capital Gains, Share Market & F&O Trading Returns (ITR-2 / ITR-3)

For equity investors, intraday traders, and derivatives participants, we directly parse broker Tax P&L statements from Zerodha, Groww, AngelOne, Upstox, and ICICI Direct. We compute Short-Term Capital Gains (STCG @ 20%) and Long-Term Capital Gains (LTCG @ 12.5% post Budget 2024 with the statutory ₹1.25 Lakh exemption threshold). For Futures & Options (F&O) traders, we calculate non-speculative business turnover per ICAI guidelines, deduct eligible trading expenses, and ensure proper set-off and mandatory 8-year carry-forward schedules for trading losses.

04

Corporate ITR-6 & Partnership / LLP ITR-5 Returns

For corporate entities, LLPs, and partnership firms, we structure and file Form ITR-5 and ITR-6 returns. We compute partner remuneration deductions under Section 40(b) synchronized with Section 194T TDS filings, calculate Minimum Alternate Tax (MAT under Section 115JB) along with Form 29B certifications, and reconcile balance sheets with MCA21 V3 statutory filings.

05

100% AIS, TIS & Form 26AS Automated Reconciliation

Prior to submission, our team executes automated three-way reconciliations across Annual Information Statements (AIS), Tax Information Summaries (TIS), and Form 26AS. We cross-verify high-value financial transactions (SFT), dividend income, foreign remittances, and advance tax credits, eliminating Section 143(1)(a) computational mismatch notices and Section 139(9) defective return notifications.

Execution Architecture

Statutory Procedural Workflow

A disciplined 4-stage pipeline ensuring zero-defect digital filing

01Days 1–2

Information Aggregation & AIS/TIS Reconciliation

Consolidation of Form 26AS, AIS, TIS, bank statements, foreign income schedules, and investment proofs.

02Days 3–4

Tax Computation & Deduction Optimization

Accurate computation of total income under all 5 heads, capital gains indexing, Chapter VI-A deductions, and MAT/AMT modeling.

03Day 5

JSON Schema Generation & Validation

Drafting the appropriate ITR utility (ITR-5/ITR-6/ITR-7), resolving schema validation errors, and reviewing tax liability or refund due.

04Days 6–7

Filing, DSC Verification & Intimation Tracking

Uploading to CBDT server, e-verification via Class-3 DSC or Aadhaar OTP, and tracking Section 143(1) processing order.

Compliance Matrix & Regulatory Standards Table

Official statutory thresholds, documentation requirements, and non-compliance consequences

ITR FormEligible Taxpayer CategoryMandatory DisclosuresStatutory DeadlineConsequence of Default
ITR-6Domestic & Foreign CompaniesAudited Financials, CARO 2020, Form 3CD, MAT 115JBOctober 31 of AYForfeiture of carry-forward business losses u/s 80
ITR-5Partnership Firms, LLPs, AOPsPartnership Deed, Partner remuneration u/s 40(b)Oct 31 (Audit) / Jul 31 (Non-audit)Late fee u/s 234F + interest u/s 234A @ 1% per month
ITR-7Section 8 Companies, Trusts, NGOsForm 10B/10BB audit report, 80G/12AB registrationsOctober 31 of AYRevocation of tax exemption; taxed at maximum marginal rate
ITR-3 / ITR-4Individual Proprietors & ProfessionalsBooks of accounts or Sec 44AD/44ADA turnover logsJuly 31 / October 31 (Audit)Inability to revise return u/s 139(5) after deadline

Mandatory Statutory Documentation Checklist

Key legal dossiers, resolutions, and KYC documents required from promoters and entities

Tax Credit & Income Statements

  • Form 26AS Tax Credit Statement
  • Comprehensive AIS (Annual Information Statement) & TIS
  • Bank Statements and Interest Certificates for all active accounts

Capital Gains & Investments

  • Capital Gains Statement from Broker / Depository for equity/mutual funds
  • Property Purchase & Sale Deeds with stamp duty valuation (Sec 50C)
  • Schedule FA foreign asset holdings and overseas bank account details

Audit & Statutory Documents

  • Statutory Audit Report (Form 3CA/3CB-3CD) where applicable
  • Form 29B MAT Certification under Section 115JB for companies
  • Class-3 Digital Signature Certificate (DSC) for e-verification

Statutory Deadlines & Penalty Mitigation Schedule

Calendar due dates, prescribed filing forms, and statutory default consequences

Filing EventPrescribed FormStatutory DeadlineLate Fee & Default Rule
Non-Audit Assessees ITRITR-1, ITR-2, ITR-4, ITR-5July 31 of Assessment Year₹5,000 late fee u/s 234F (₹1,000 if income < ₹5L)
Audit Assessees ITR (Companies/Firms)ITR-5, ITR-6, ITR-7October 31 of Assessment YearLosses cannot be carried forward to subsequent years
Belated / Revised ReturnSec 139(4) / 139(5)December 31 of Assessment YearNo return can be filed after Dec 31 except via ITR-U
Direct Answers & Compliance Intelligence

Frequently Asked Regulatory & Compliance Questions

Authoritative insights structured for executive boards, corporate proprietors, and regulatory compliance

1

What happens if a company or firm misses the October 31 ITR filing deadline?

If an audit-mandated entity fails to file its return on or before October 31, it incurs mandatory late fees under Section 234F up to ₹5,000, penal interest under Section 234A @ 1% per month on outstanding tax dues, and crucially, forfeits the statutory right to carry forward business losses (other than unabsorbed depreciation) to future fiscal years under Section 80.
Key Takeaway: Missing the October 31 deadline permanently wipes out the financial value of carry-forward business losses.
2

What is an Updated Return under Section 139(8A) (ITR-U)?

Section 139(8A) allows taxpayers to file an Updated Return (ITR-U) within 24 months from the end of the relevant assessment year to declare previously unreported income. An additional tax of 25% (if filed within 12 months) or 50% (if filed between 12 and 24 months) on aggregate tax and interest must be paid. ITR-U cannot be filed to claim refunds, increase losses, or during ongoing search/survey proceedings.
Key Takeaway: ITR-U provides a 2-year statutory compliance amnesty window to regularize omitted income with additional tax.

Why Work With Kinsmen Corporate Services Partnership Firm?

As an independent multidisciplinary corporate consultancy partnership firm, Kinsmen delivers strategic commercial solutions, business structuring, and compliance facilitation without ICAI advertising constraints. Our partners provide direct, accountable surveillance for your ongoing statutory peace of mind.

Salaried EmployeesITR-1 / ITR-2

Salaried ITR Filing (Form 16)

For corporate executives, IT professionals, teachers, bank employees, and pension recipients.

₹999/ Filing (All-Inclusive)
  • Form 16 & Salary Parsing: Automated salary component reconciliation
  • New vs Old Regime Optimization: Algorithmically picks lowest tax liability
  • Deductions Claim: 80C, 80D Mediclaim, HRA & Home Loan Interest
  • AIS / 26AS Reconciliation: Eliminates tax mismatch demand notices
  • Fast-Track Refund: Direct pre-validated bank account credit tracking
Zero Audit SchemeITR-4 Sugam

Presumptive Business ITR (Sec 44AD)

For retailers, traders, freelancers, contractors, professionals & small business proprietors.

₹1,999/ Filing (All-Inclusive)
  • Sec 44AD Presumptive Profit: Declare 6% digital / 8% cash on turnover up to ₹3 Cr
  • Sec 44ADA for Professionals: 50% deemed profit on receipts up to ₹75 Lakhs
  • No Balance Sheet / Books Required: Statutory relief under Section 44AA
  • Exempt from Sec 44AB Tax Audit: Legal shelter from formal audit fees
  • Bank Loan & Credit Approved: Perfect 3-year computation statement for CC/OD
Traders & InvestorsITR-2 / ITR-3

Capital Gains & F&O Trading ITR

For equity intraday traders, F&O derivatives, mutual funds, crypto & property sellers.

₹2,999/ Filing (All-Inclusive)
  • Broker Tax P&L Parsing: Direct import from Zerodha, Groww, AngelOne & Upstox
  • STCG & LTCG Schedules: Correct rates (STCG 20%, LTCG 12.5% + ₹1.25L exemption)
  • F&O Turnover Calculation: Absolute profit/loss method per ICAI guidance
  • 8-Year Loss Carry Forward: Protect trading losses against future gains
  • Real Estate Sec 54 Exemption: Capital gain reinvestment in residential property
Digital Tax Filing Gateway

Attach Documents & File Your Income Tax Return

Upload your Form 16, Bank Statement, or Broker P&L. Our senior direct tax partners will review your tax computations, maximize eligible exemptions, and file your ITR on the e-filing portal.

1. PAN Card Copy *

Mandatory identity proof

2. Form 16 / Salary Slips

For Salaried ITR applicants

3. Bank Statement / Sales

For Sec 44AD/44ADA Presumptive

4. Broker Tax P&L Sheet

For Capital Gains & F&O Trading

🔒 100% Confidential • Reviewed by Senior Direct Tax Partners