Overview
Businesses file income tax returns based on their constitution: proprietors with business income file as individuals (usually ITR-3, or ITR-4 under presumptive taxation), partnership firms and LLPs file ITR-5, and companies file ITR-6. Businesses that cross the tax audit thresholds must also get their accounts audited by a chartered accountant and file the audit report before the return.
A business return depends on books of account that are complete and reconciled with GST returns, TDS records and the bank. We prepare or review the financial statements, compute taxable income with the allowances and disallowances the law requires, coordinate the audit where one is needed, and file the return after you approve it.
The Income-tax Act, 2025 replaced the Income-tax Act, 1961 from 1 April 2026: it applies to income earned from the tax year 2026-27 onwards, while returns for earlier years follow the 1961 Act. Some form numbers and section references change under the new Act, so we check the current form for each filing.
Who needs it
- Proprietors with business or professional income
- Partnership firms and LLPs
- Private and public companies, including those with no business in the year
- Businesses that need a tax audit because of their turnover or receipts
Documents required
What we usually ask for. Our team confirms the exact list for your case before anything is filed.
- PAN of the business and e-filing portal access
- Books of account, bank statements and the trial balance for the year
- GST returns and TDS returns filed during the year
- Fixed asset register and loan statements
- Previous year's return and audit report, if any
- Partnership deed or LLP agreement (firms and LLPs)
How it works
- 1
Review the books
We review your accounts and reconcile them with GST, TDS and bank records.
- 2
Financial statements
We prepare or review the profit and loss account and balance sheet.
- 3
Audit (if required)
Where the law requires a tax audit, a chartered accountant we work with audits the accounts and files the audit report.
- 4
Compute and approve
We compute taxable income and tax, and share the computation for your approval.
- 5
File and verify
The return is filed and verified with a DSC or EVC as applicable to your entity.
Typical timeline
Businesses that don't need an audit usually have the same due date as individuals (generally 31 July). Businesses that need a tax audit, and companies, usually file by 31 October, with the audit report due before that; cases with transfer pricing have a later date. The government sometimes extends these dates.
Get a free quote
Answer a few questions and our team will contact you. It takes about two minutes.
Official sources
The government portals and laws this page is based on:
Please note