India Tax FAQs

Yes. E-filing is the official method mandated by the Income Tax Department, and EvoTax files directly on the government portal with secure, encrypted document handling. Online filing is fully legal and is now the standard for almost all taxpayers.

Not for simple returns, but expert help prevents costly errors, missed deductions and notices — especially for capital gains, F&O, business income or NRI cases. EvoTax pairs you with experienced professionals at affordable, transparent prices.

The financial year (FY) is the year you earn income (e.g., 1 April 2024 to 31 March 2025). The assessment year (AY) is the following year in which you file and your income is assessed (AY 2025-26 for FY 2024-25). You file the FY just ended in the current AY.

Simple ITR-1 returns are often completed within 24 hours of receiving your documents. More complex returns involving capital gains, F&O or business income typically take 2-3 working days.

You must e-verify your return (via Aadhaar OTP, net banking or other methods) within the allowed window for it to be valid. The department then processes it and issues any refund. EvoTax helps you e-verify and tracks your refund.

For most individuals not requiring audit, the due date is 31 July of the assessment year. Belated and revised returns can usually be filed until 31 December, and an updated return (ITR-U) up to 24 months later with additional tax. We help you file on time and avoid late fees under Section 234F.

It depends on your income sources. ITR-1 suits salaried individuals with one house property; ITR-2 covers capital gains and multiple properties; ITR-3 is for business and F&O income; ITR-4 is for presumptive income. EvoTax selects the correct form for you automatically.

Yes. If your employer or bank deducted more TDS than your actual liability, filing your ITR is how you claim the refund. We reconcile your TDS via Form 26AS and ensure the refund is correctly claimed and tracked.

Typically your PAN, Aadhaar, Form 16, bank statements, interest certificates, investment proofs (80C/80D), and capital gains or business statements where applicable. We send you a simple checklist based on your profile.

You can still file a belated return until 31 December, usually with a late fee of ₹1,000–₹5,000 and interest on unpaid tax. Filing late may also restrict carry-forward of certain losses. We help you file quickly to limit the impact.

A 143(1) intimation is the most common and usually routine — it compares your return with the department's computation and may show a refund, a demand or no change. If there is a mismatch or demand, it needs a timely response or rectification, which we handle.

It means the department found an error or omission in your filed return (such as a missing schedule or mismatch). You typically have 15 days to correct and re-submit. We fix the defect and respond before the deadline.

A 148 notice proposes reassessment because the department believes income escaped assessment. These are serious and time-bound. Do not ignore it — we analyse the basis, gather evidence and file a proper response and representation.

Common triggers are mismatches between your return and AIS/Form 26AS, unreported high-value transactions, TDS mismatches or claimed deductions needing proof. We reconcile the data and respond with supporting evidence.

Ignoring a notice can lead to best-judgement assessment, demands, penalties and even prosecution in serious cases. Responding correctly and on time almost always resolves the matter — which is exactly what we manage for you.

It depends entirely on your deductions. The new regime has lower rates but few deductions; the old regime rewards those with large 80C, HRA and home loan claims. We model both on your actual income and recommend the one that minimises your tax.

At the start of the financial year, not at the end. Early planning lets you spread investments, time capital gains and pay advance tax correctly. We provide year-round advisory rather than a March rush.

Through deductions (80C, 80D, NPS 80CCD(1B)), HRA and home loan benefits in the old regime, efficient salary structuring, and choosing the right regime. We tailor these to your situation for maximum legal saving.

If your tax liability after TDS exceeds ₹10,000 in a year, you must pay advance tax in instalments, or face interest under Sections 234B and 234C. We compute and schedule your advance tax to avoid this.

Yes. Timing your redemptions, harvesting losses to offset gains, and using exemptions like Section 54 on property can significantly reduce capital gains tax. We build this into your plan.

Businesses with turnover above ₹40 lakh (goods) or ₹20 lakh (services) in most states must register, as must inter-state suppliers, e-commerce sellers and those wanting to claim input tax credit. Voluntary registration is also allowed and often beneficial for B2B businesses.

With complete documents, a GSTIN is typically issued within 3–7 working days. If the officer raises a clarification, it can take longer — we handle the response promptly to minimise delays.

PAN, Aadhaar, a passport-size photo, proof of business address (rent agreement or ownership), bank account proof, and for companies/LLPs the incorporation documents and board resolution. We provide a tailored checklist.

The regular scheme allows input tax credit and is suited to most B2B businesses. The composition scheme offers lower compliance and a flat tax rate for small businesses under ₹1.5 crore turnover but does not allow input credit. We help you choose the right one.

The government does not charge a fee for registration; our charge is a professional fee for end-to-end handling, document verification and query response so your application succeeds without rejections.

Most regular taxpayers file GSTR-1 (outward supplies) and GSTR-3B (summary and payment) monthly or quarterly under QRMP, plus the annual GSTR-9. Composition dealers file CMP-08 and GSTR-4. We determine your exact filing schedule.

Late filing attracts a late fee (₹50/day, ₹20/day for nil returns) plus 18% annual interest on unpaid tax. Continued non-filing can block your e-way bills and suspend your GSTIN. Timely filing with us avoids all of this.

Your eligible ITC must match what suppliers report in GSTR-2B. We reconcile your purchase register against GSTR-2B every period so you claim all valid credit and avoid claiming ineligible credit that could trigger a notice.

Yes. We handle GST filing for sellers on Amazon, Flipkart and other platforms, including TCS reconciliation and the specific reporting these businesses require.

The Quarterly Return Monthly Payment scheme lets small taxpayers (under ₹5 crore turnover) file GSTR-1 and GSTR-3B quarterly while paying tax monthly. We manage both the monthly payments and quarterly returns for you.

For F&O, turnover is generally the absolute sum of profits and losses on each trade (plus premium on options sold, per ICAI guidance). This is not the same as your total contract value. Getting it right matters because it determines whether a tax audit applies. We compute it precisely from your broker data.

Not always. An audit under Section 44AB depends on your turnover and whether you declare profits below the presumptive rate. With turnover under ₹10 crore and most transactions digital, many traders avoid audit. We assess your specific case and advise clearly.

Yes. F&O losses are non-speculative business losses and can be carried forward for up to 8 years to set off against future business income — but only if you file your ITR before the due date. Intraday (speculative) losses carry forward for 4 years against speculative income.

F&O and intraday income is business income, so it is reported in ITR-3 (or ITR-4 under presumptive taxation in limited cases). We file ITR-3 and combine it correctly with your salary and capital gains.

Yes. We work directly from the tax P&L statements provided by Zerodha, Upstox, Groww, Angel One, Dhan and other brokers, so you do not have to compile anything manually.

Listed equity shares and equity mutual funds held over 12 months are long-term. LTCG above the annual exemption limit is taxed at the prescribed LTCG rate without indexation. We apply the current rates and the grandfathering rule for pre-2018 holdings to compute your exact liability.

You can claim exemption under Section 54 by reinvesting gains in another residential property, under 54F by investing net sale proceeds, or under 54EC by investing up to ₹50 lakh in specified bonds. We assess which exemption fits and structure it correctly.

Indexation adjusts your purchase cost for inflation using the Cost Inflation Index, reducing taxable long-term gains on assets like property. Rules have changed recently for certain assets — we apply the correct method for your sale year.

Yes. Buyers must deduct TDS on property purchases above the threshold (and a higher rate for NRI sellers). We reconcile this TDS in your return and claim any refund of excess deduction.

Capital gains are reported in ITR-2 (or ITR-3 if you also have business income). We select and file the correct form with complete capital gains schedules.

NRIs must file an Indian ITR if their India-sourced income (rent, capital gains, interest, dividends) exceeds the basic exemption limit, or to claim a refund of excess TDS. Filing is also useful for repatriation and record-keeping. We assess your obligation and file accordingly.

TDS on property sold by an NRI is deducted at a much higher rate than for residents (on the full sale value, plus surcharge and cess). You can reduce this by obtaining a lower-deduction certificate under Section 197 before the sale — a service we provide.

A Double Taxation Avoidance Agreement between India and your country of residence ensures the same income is not taxed twice. Depending on the treaty, you claim relief either by exemption or by crediting tax paid in one country against the other. We apply the correct method using a Tax Residency Certificate.

Yes. NRIs frequently have TDS deducted far above their actual liability, especially on property and capital gains. Filing an ITR is how you claim the refund — we compute the real liability and reclaim the excess.

Absolutely. Our NRI service is fully remote — secure document upload, online consultations and e-filing — so you never need to be physically present in India.

TDS returns are filed quarterly — generally 31 July, 31 October, 31 January and 31 May for the four quarters. TDS deducted must be deposited by the 7th of the following month. We track every deadline for you.

Form 24Q is for TDS on salaries, 26Q for other domestic payments (rent, professional fees, contractors), and 27Q for payments to non-residents. We file the correct form based on your deductions.

A late filing fee of ₹200 per day applies under Section 234E (capped at the TDS amount), plus possible penalties under Section 271H. Late deposit of TDS also attracts interest. Timely filing with us avoids these.

Form 16 is generated from the TRACES portal after your Q4 24Q return is processed. We file your returns and download and deliver Form 16/16A so your employees and vendors can file their own returns.

Yes. We analyse the default (short deduction, short payment, PAN errors or late filing) and file a correction statement on TRACES to resolve it and stop further demands.

A Pvt Ltd company must file AOC-4 (financial statements) and MGT-7 (annual return) with the ROC, hold board meetings and an AGM, complete director KYC, file its income tax return, and maintain statutory registers. We manage all of these.

Late ROC filings attract an additional fee of ₹100 per day per form with no upper cap, and persistent default can disqualify directors and mark the company as non-compliant. Timely filing with us avoids these compounding penalties.

An LLP files Form 11 (annual return) and Form 8 (statement of accounts and solvency) with the MCA each year, plus its income tax return — even if there is no business activity. We handle the full LLP compliance cycle.

Every person holding a Director Identification Number must complete annual KYC via DIR-3 KYC, or the DIN is deactivated with a ₹5,000 reactivation penalty. We file director KYC for you on time.

Yes. Even companies and LLPs with no transactions must complete annual ROC and income tax filings. Non-filing leads to penalties and eventual strike-off. We keep dormant entities compliant affordably.