Returns that reconcile to your books and survive scrutiny
A return is easy to file and expensive to file badly. We compute from the books rather than from last year's figures, keep the working, and file with the schedules that make a later query straightforward to answer.
What this covers
- Return preparation and filing
- Advance tax
- Capital gains
- Revised and belated returns
What this covers
Return preparation and filing
Every return type, computed from the books and reconciled to the department's own annual statement and the AIS before anything is filed.
Advance tax
Quarterly estimates and challans, so you are not paying interest under s.424 and s.425 for a shortfall nobody tracked.
Capital gains
Property, shares and mutual funds — computation, indexation, and planning around the residential-property and investment exemptions.
Revised and belated returns
Corrections and late filings, including an updated return where it still helps — the window is long, the additional tax rises the later you use it.
Annual statement and AIS reconciliation
Differences between what the department already knows and what you are declaring, resolved before filing rather than after a notice.
Working paper file
The computation, its basis and its supporting documents kept, so a query three years later is answerable.
Two things worth checking yourself
- the compliance calendar
Advance tax falls on 15 June, September, December and March. Missing an instalment is not a filing failure — it is interest under s.425, charged quietly until someone notices, and it runs whether or not anyone told you the instalment was due.
- the residential status calculator
If you spent part of the year outside India, your residential status decides whether foreign income belongs on the return at all. The Finance Act 2020 moved that line for higher-income NRIs, and most calculators still apply the old test.