Income Tax Return (ITR) Filing & Tax Advisory Services

Filing an annual Income Tax Return (ITR) is a statutory obligation under Section 139(1) of the Income Tax Act, 1961 for every individual, HUF, and corporate entity whose total income exceeds the basic exemption limit. Beyond mere compliance, timely ITR filing is vital for securing home loans, business financing, VISA processing, carrying forward business and capital losses, and claiming tax refunds deducted as TDS/TCS.

With the introduction of the Annual Information Statement (AIS) and Taxpayer Information Summary (TIS), the Income Tax Department automatically tracks high-value banking transactions, share trading, mutual fund redemptions, property deals, and foreign remittances. Any mismatch between your declared income and AIS records can trigger automated defective notices under Section 139(9) or demand notices under Section 143(1).

Madhav Consultancy provides meticulous tax return computation. Our tax professionals perform 3-point reconciliation between Form 16/16A, 26AS, and AIS/TIS data. We compare your tax liability under both the Old and New Tax Regimes to determine which framework maximizes your take-home tax savings while ensuring full statutory compliance.