ITR Filing in Gwalior — Expert CA Files Your Income Tax Return

For AY 2026-27 (FY 2025-26), the ITR deadline for individuals is July 31, 2026. For businesses requiring audit, it is October 31, 2026. Late filing attracts a penalty of ₹5,000 (if filed before December 31) or ₹10,000 after that.

ITR-1 (Sahaj) is for salaried individuals with income up to ₹50 lakhs from salary, one house property, and other sources. If you have capital gains, two house properties, or foreign income, ITR-2 is applicable. Our CA will select the correct form.

It is not mandatory if your income is below the basic exemption limit. However, ITR filing is required if you have foreign assets, deposits above ₹1 crore, foreign travel expenses above ₹2 lakhs, or to claim a refund on TDS deducted.

Yes. You can file a Belated Return for up to 2 previous assessment years. For older years, you need to file an Updated Return (ITR-U). Our Gwalior CA team handles belated and updated returns regularly.

The new tax regime (default from FY 2023-24) offers lower tax rates but removes most deductions (80C, HRA, etc.). The old regime has higher rates but allows all deductions. Our CA calculates both and files under whichever saves you more tax.

If you have business or professional income along with salary, you need ITR-3 (if not opting for presumptive taxation) or ITR-4 (if opting for 44AD/44ADA/44AE presumptive scheme with business income up to ₹2 crore).