Income Tax Return Filing- Complete Guide

Filing an Income Tax Return (ITR) is a crucial responsibility for individuals and businesses to comply with the Income Tax Act, 1961. This guide provides an in-depth understanding of ITR filing, who is required to file, tax slabs, applicable sections, and due dates for FY 2024-25. If you’re looking for a CA for Income Tax filing or a Tax Expert online, this article will help you navigate the process with ease.

What is Income Tax Return (ITR) Filing?

Income Tax Return (ITR) filing is the process of submitting details of income, deductions, and tax paid to the Income Tax Department of India. It is essential for compliance and helps individuals and businesses claim refunds, carry forward losses, and avoid penalties.

Who is Required to File an Income Tax Return?

1. Individuals

 

• • If total income exceeds the basic exemption limit

• • If an individual has foreign assets or foreign income

• • If TDS has been deducted and refund is required

• • If total electricity bill exceeds ₹1,00,000 per year

• • If bank deposits exceed ₹1 crore in a year

• • If expenses on foreign travel exceed ₹2,00,000 per year

2. HUFs (Hindu Undivided Families)

 

• • If income exceeds the exemption limit or taxable transactions occur

3. Firms & Companies

 

• • All registered firms and companies must file ITR, even if there is no profit

4. Partnership Firms & LLPs

 

• • Compulsory ITR filing, irrespective of profit or loss

5. Societies, Trusts, and AOPs (Association of Persons)

 

• • If registered under Section 12A, 80G, or 10(23C), ITR filing is mandatory

Tax Slabs for FY 2024-25

Tax Slabs for Individuals & HUF (Under Old Regime)

Income Range	Tax Rate
Up to ₹2,50,000	Nil
₹2,50,001 – ₹5,00,000	5%
₹5,00,001 – ₹10,00,000	20%
Above ₹10,00,000	30%

New Tax Regime Slabs (FY 2024-25)

Income Range	Tax Rate
Up to ₹3,00,000	Nil
₹3,00,001 – ₹6,00,000	5%
₹6,00,001 – ₹9,00,000	10%
₹9,00,001 – ₹12,00,000	15%
₹12,00,001 – ₹15,00,000	20%
Above ₹15,00,000	30%

Tax Rates for Firms & Companies

Entity	Tax Rate
Partnership Firms & LLPs	30%
Domestic Companies (Turnover < ₹400 Cr)	25%
Domestic Companies (Turnover > ₹400 Cr)	30%
Foreign Companies	40%
Societies, AOPs, BOIs	30%

Key Income Tax Sections for Tax Filing

 

• • Section 80C – Deductions for investments in LIC, PPF, ELSS, etc.

• • Section 80D – Deductions for medical insurance premium

• • Section 24(b) – Deduction on home loan interest

• • Section 44AD & 44ADA – Presumptive taxation for businesses and professionals

• • Section 87A – Rebate for income up to ₹7,00,000 (under new regime)

Due Dates for Income Tax Filing (FY 2024-25)

Category	Due Date
Individuals & HUF	31st July 2025
Businesses Requiring Audit	31st October 2025
Companies & LLPs	31st October 2025
Tax Audit Report Submission	30th September 2025

Why Choose a CA for Income Tax Filing?

Filing ITR correctly ensures compliance and maximizes deductions. A CA for Income Tax filing helps:

 

• • Avoid penalties and interest

• • Claim deductions and exemptions efficiently

• • Handle tax notices and scrutiny

• • File ITR online accurately

If you’re looking for a Tax Expert online, consulting a professional can simplify your filing process and help you save taxes legally.

Online CA for ITR Filing – Hassle-Free Tax Filing Services

Why Choose Our Online ITR Filing Services?

✅ Expert CA Assistance – Ensure 100% accurate tax filing
✅ Quick & Hassle-Free Process – File your ITR from anywhere
✅ Maximize Tax Savings – Claim deductions & exemptions
✅ Compliance with Tax Laws – Avoid penalties & errors
✅ Secure & Confidential – Your financial data is safe with u

Online CA for ITR Filing – Fast & Hassle-Free Tax Filing Services

File Your ITR Online with Expert Chartered Accountants

Looking for a trusted online CA for ITR filing? Our experienced Chartered Accountants provide seamless and accurate income tax return (ITR) filing services for individuals, businesses, and professionals across India.

Why Choose Our Online ITR Filing Services?

✅ Expert CA Assistance – Get professional tax filing support
✅ 100% Accuracy & Compliance – Avoid errors and penalties
✅ Maximize Tax Savings – Claim eligible deductions & exemptions
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Conclusion

Filing your Income Tax Return on time is essential to avoid penalties and legal complications. Understanding tax slabs, due dates, and deductions can help you file efficiently. Need assistance? Consult a CA for Income Tax filing or a Tax Expert online to ensure a hassle-free experience.

Other Important Article Links:

Types of Income Tax Filing Forms, NRI Taxation and Rules