Income Tax Return (ITR) Filing (₹799) | Mazco Corporate Services

Professional Income Tax Return Filing

Filing an Income Tax Return (ITR) is a legal obligation under the Income-tax Act, 1961 for every individual, professional, and corporate entity whose total income exceeds the basic exemption limit or who meets specific statutory criteria.

Our tax advisory team evaluates your Form 26AS, Annual Information Statement (AIS), and Taxpayer Information Summary (TIS), compares your liability under both Old and New Tax Regimes, and ensures you claim all legitimate exemptions to maximize your refunds.

Key Statutory Benefits & Business Advantages

Holding a verified, compliant registration delivers substantial commercial and legal protections:

Old vs. New Regime Comparison

Detailed comparative tax calculation to ensure you choose the regime that minimizes your tax liability.

Fast-Track Tax Refunds

Accurate e-verification and pre-validated bank account mapping to expedite tax refunds directly to your bank account.

Essential for Visa & Immigration

Embassies and consulates require the last 3 years' verified ITR-V acknowledgments for travel and work visas.

Easy Loan & Mortgage Approval

Financial institutions mandate 2-3 years of verified ITR statements to approve home, auto, and commercial business loans.

AIS & Form 26AS Cross-Check

Eliminate tax demand notices by matching interest, dividend, and capital gain transactions with department records.

Zero Late Filing Penalty

Filing before statutory deadlines protects you from mandatory late fees up to ₹5,000 under Section 234F.

Income Tax Return Forms Classification

Identifying the correct ITR form for your financial profile:

ITR Form	Target Taxpayer Profile	Income Sources
ITR-1 (Sahaj)	Salaried Individuals (Income up to ₹50L)	Salary, one house property, other sources (interest)
ITR-2	Individuals & HUF with Capital Gains	Capital gains (stocks/crypto/property), foreign assets
ITR-3	Proprietors & Professionals	Business profits, freelance income, partnership share
ITR-4 (Sugam)	Presumptive Taxation (Sec 44AD/44ADA)	Small businesses (turnover < ₹2Cr) & professionals (< ₹50L)
ITR-5 / ITR-6	Firms, LLPs & Private Limited Companies	Commercial entity income subject to audit/non-audit

Compliance Note: Presumptive Taxation (Section 44ADA): Professionals (freelancers, doctors, consultants) can declare 50% of gross receipts as taxable profit without maintaining detailed books of accounts.

Mandatory Documents Required

Our team verifies every document prior to portal submission to prevent officer clarification delays:

Form 16 / Form 16A

Salary TDS certificate from employer or dedcutor

PAN & Aadhaar Card

Mandatory linked tax identification credentials

Bank Account Statements

All active bank accounts held during the financial year

AIS / TIS Statement

Downloaded from the Income Tax e-filing portal

Capital Gains Statement

From Zerodha, Groww, CAMS, or mutual fund houses

Tax Saving Investment Receipts

PPF, ELSS, Insurance (80C), Health Insurance (80D)

Our 4-Step Filing & Registration Process

We ensure accuracy and speedy turnaround with complete milestone visibility:

1

Data Gathering

Collection of Form 16, bank statements, and downloading portal AIS/TIS reports.

2

Tax Computation

Income computation with dual-regime tax comparison to select the lowest liability.

3

Draft Verification

Sharing computation sheet with client for approval before final submission.

4

E-Filing & E-Verify

Submitting on the IT portal, generating ITR-V, and instant Aadhaar OTP e-verification.

Frequently Asked Questions

The New Tax Regime offers lower slab rates but disallows common deductions like 80C (PPF, ELSS), 80D (health insurance), and HRA. The Old Regime has higher slab rates but allows full deduction claims. We calculate both to determine which saves you more.

Under Section 234F, a late fee of ₹5,000 (reduced to ₹1,000 for income up to ₹5 Lakhs) is charged if filed by December 31st. You may also be charged 1% monthly interest on unpaid tax under Section 234A.

Filing is optional if income is below basic exemption (₹2.5L Old / ₹3L New), but mandatory if you deposited >₹1Cr in current accounts, spent >₹2L on foreign travel, paid >₹1L in electricity bills, or wish to claim a tax refund.

Once your return is e-verified, the Centralized Processing Center (CPC) processes it within 2 to 6 weeks, and refunds are credited directly to your pre-validated bank account.

Short-term and long-term capital gains must be reported under ITR-2 or ITR-3. We import and parse your broker tax P&L statements (Zerodha, Groww, Upstox) directly into the computation.

Under Section 44ADA, professionals (engineers, consultants, designers) with gross receipts up to ₹75 Lakhs can declare 50% of receipts as profit and pay tax without maintaining cumbersome accounting ledgers.

Income Tax Return (ITR) Filing