From individual ITR filing to corporate tax returns, TDS compliance to income tax notices — Diwan Consultancy handles every income tax obligation for individuals, businesses, and organisations, accurately and on time.
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Income Tax e-Filing is the mandatory online submission of the Income Tax Return (ITR) to the Income Tax Department through the official portal at incometax.gov.in. Every Individual/HUF whose Gross Total Income exceeds ₹4 Lakhs (basic exemption limit) will be liable for tax — but if Net Taxable Income is ₹12 Lakhs or below then, final tax payable will be NIL, because of Rebate u/s 87A of ₹60,000, which will be available to all taxpayers opting for the New Tax Regime must file an ITR annually for F.Y.2025-26.
Due Date (Non-Audit) (ITR 1 & 2)
July 31st
Due Date (Non-Audit) (ITR 3 & 4)
Aug 31st
Belated Return
Till December 31 st (with penalty)
Late Fees
U/s.234F (Sec.428 as per New Act)
A sole proprietorship has no separate legal identity — the proprietor and business are taxed as one. Business income is declared in the proprietor’s personal ITR using ITR-3 (books maintained) or ITR-4 Sugam (presumptive taxation u/s 44AD (businesses) and 44ADA (Professionals) (Sec.158 as per new act), provided income ≤ ₹50 Lakhs). Tax audit u/s 44AB is mandatory if turnover exceeds ₹1 Crore (or ₹10 Crore if cash transactions are within 5% of total receipts/payments), with a due date of 31st October.
✦ Presumptive Taxation:
Under Section 44AD (Sec.158 as per new act), small businesses with turnover up to ₹2 Crore (or ₹3 Crore if 95%+ receipts are digital) can declare 8% of turnover (or 6% for digital receipts) as deemed profit — no books needed. Under Section 44ADA (Sec.158 as per new act), professionals (doctors, CAs, lawyers) can declare 50% of gross receipts as profit if receipts are ≤ ₹50 Lakh (or ≤ ₹75 Lakh if 95%+receipts are digital).
ITR Form
ITR-3 (books) or ITR-4 (presumptive)
Audit Due Date
September 30 st (Tax Audit Report)
Both Partnership Firms and LLPs are indeed taxed as separate legal entities under the Income Tax Act, distinct from their partners. The firm/LLP pays tax on its income, and the partners’ share of profit from the firm/LLP is exempt from tax in their hands. Both Partnership Firms and LLPs are required to file ITR-5 to report their income and are taxed at a flat rate of 30% on taxable income, plus applicable surcharge & Health & Education Cess. Both must file an income tax return irrespective of profit or loss.
ITR Form
ITR-5
Tax Rate
30% flat
Non Audit Return Due Date
July 31
Audit Return Due Date
October 31 of assessment year
Private Limited, OPC, Public Limited companies must file ITR-6 annually, regardless of turnover or activity level. All companies under the Companies Act 2013 must undergo a statutory audit before ITR filing this applies irrespective of turnover. Since companies are subject to audit, the ITR-6 duedate is 31st October. Domestic companies need to pay Tax 25% (turnover ≤ ₹400 crore) or 22% under Section 115BAA (Sec.200 as per new act).
ITR Form
ITR-6
Return Due Date
October 31 st (audit mandatory)
Advance Tax
Quarterly — June, Sep, Dec, March
Tax Rate
25% or 22%
Due Date
Change to return due date
Advance Tax
Quarterly — June, Sep, Dec, March
Charitable trusts, religious institutions, NGOs, Section 8 companies, political parties, research associations, and educational institutions registered under the Income Tax Act file their annual returns using Form ITR-7. Entities registered under Section 12A/12AB (sec.332 as per new act) enjoy complete exemption from income tax if at least 85% of income is applied to charitable or religious purposes. The remaining 15% can be accumulated. However, they must file ITR-7 by October 31 every year and maintain detailed records of income, receipts, and expenditure
ITR Form
ITR-7
Due Date
October 31 annually
Exemption
Under Section 12A / 12AB
Form 15CA (Form 145 as per new act) is an online declaration filed by the remitter before making any payment to a non-resident, confirming TDS compliance under Section 195 (Sec-393 as per new act). The form has four parts — Part A for remittances up to ₹5 lakh; Part B when an Assessing Officer certificate is obtained; Part C when remittance exceeds ₹5 lakh and no AO certificate exists (requiring CA-certified Form 15CB Form 146 as per new act); and Part D when the payment is not chargeable to tax. Form 15CB ( Form 146 as per new act) is a CA certificate confirming applicable tax rates under the Income Tax Act or DTAA, and must be obtained before uploading Form 15CA (Form 146 as per new act). Both forms must be filed prior to the actual remittance, and the Authorised Dealer (AD) bank verifies them before processing the transfer. From 1st April 2026, under the new Income Tax Act, 2025, Form 15CA and 15CB stand replaced by Form 145 and Form 146 respectively, with enhanced disclosures including UDIN, non-resident’s TIN, and 65 remittance categories.
15CA
Declaration by remitter (online)
15CB
CA certificate (remittance >₹5 lakh, taxable)
Withdrawal
Form 15CA can be withdrawn within 7 days
Governed By
Section 195 + Rule 37BB
Tax Deduction and Collection Account Number (TAN) is a mandatory 10-digit alphanumeric number issued by the Income Tax Department to all individuals and entities responsible for deducting or collecting Tax at Source (TDS/TCS). Under Section 203A (Now Sec.397) of the Income Tax Act, every employer, business, or individual making specified payments (salaries, rent, contractor fees, interest, commission) must obtain a TAN and quote it on all TDS returns, challans, and certificates. Non-compliance attracts a penalty of ₹10,000. Notably, individuals paying under Section 194-IA (new Sec 392 as per new act) (property purchase) or Section 194-IB (Now Sec-393(3) as per new act) (rent by individuals/HUF) are exempt from obtaining TAN and use PAN instead.
Form
Form 49B (offline) or online at NSDL/UTIITSL
Validity
Lifetime (no renewal required)
Penalty Without TAN
₹10,000 under Section 272BB
Every deductor holding a valid TAN is required to file quarterly TDS returns summarising all TDS deductions made during the quarter — the deductee’s PAN, nature of payment, amount paid, and TDS deducted and deposited. TDS returns must be filed quarterly: Q1 (April–June) by July 31, Q2 (July–September) by October 31, Q3 (October–December) by January 31, and Q4 (January March) by May 31. Accurate filing ensures that TDS credits reflect correctly in the deductee’s Form 26AS (now form 168 as per new act).
⚠️ Late filing penalty: ₹200 per day under Section 234E from the due date until filing (capped at the total TDS amount). Additionally, ₹10,000 to ₹1,00,000 penalty under Section 271H may apply if return is not filed within 1 year of due date. 1% interest per month for late deduction, 1.5% for late deposit.
Q1 (Apr–Jun)
Due by July 31
Q2 (Jul–Sep)
Due by October 31
Q3 (Oct–Dec)
Due by January 31
Q4 (Jan–Mar)
Due by May 31
An Income Tax notice is a formal communication from the Income Tax Department asking a taxpayer to clarify discrepancies, submit documents, or respond to scrutiny — common triggers include mismatches between ITR and Form 26AS/AIS (Now Form 168 as per new act), under-reporting of income, non-filing of returns, high-value transactions, or random scrutiny selection.Every notice carries a strict response deadline and must never be ignored, as failure to respond can lead to ex-parte assessment, tax demands with interest, heavy penalties up to 200% of tax, and even prosecution for wilful evasion. If a taxpayer disagrees with an assessment order, a first appeal lies before CIT(A)/NFAC within 30 days, followed by a second appeal before ITAT within 60 days — with further recourse to the High Court and Supreme Court on questions of law.
⚠️Every notice has a specific deadline — typically 15 to 30 days. Missing the response window can result in the AO passing an ex-parte order confirming the demand in full, plus interest and penalty. Notices under Section 148 (reassessment) have particularly serious consequences if ignored.
Section 143(1)
Intimation — data mismatch / demand
Section 143(2)
Scrutiny notice — detailed examination
Section 148
Reassessment — escaped income
Response Deadline
Typically 15–30 days from notice date
Form ITR-U (Updated Return) under Section 139(8A) (Now Sec.263(8A) as per new act) allows taxpayers to voluntarily correct errors, declare missed income, or file previously unfiled returns — without waiting for the Income Tax Department to initiate scrutiny or notice proceedings. Budget 2025 extended the filing window from 2 years to 4 years from the end of the relevant Assessment Year, but filing ITR-U comes at a cost — an additional tax of 25%, 50%, 60%, or 70% of tax and interest is payable depending on whether it is filed in the 1st, 2nd, 3rd, or 4th year respectively. ITR-U can only be used to increase tax liability — it cannot be filed to claim refunds, reduce existing liability, or when assessment/reassessment proceedings are pending or search/survey has been initiated against the taxpayer. Only one ITR-U is permitted per Assessment Year with no second revision allowed, making it essential to ensure accuracy before filing. The key benefit is that voluntary disclosure through ITR-U reduces exposure to scrutiny, heavy penalties up to 200% of tax, and prosecution — making early filing always more advisable than delay.
⚠️ ITR-U cannot be filed if: an assessment/reassessment is already initiated, if it would result in a refund or reduced liability, or if there’s an ongoing search/seizure operation. Only ONE ITR-U can be filed per assessment year — there is no revision.
Window
Up to 4 years from end of assessment year (Budget 2025)
Additional Tax (Year 1–2)
25% on tax + interest payable
Additional Tax (Year 3–4)
50% on tax + interest payable
Limitation
Cannot reduce liability or claim refund
The Permanent Account Number (PAN) is a 10-digit alphanumeric identifier issued by the Income Tax Department that serves as the primary financial identity for all individuals, firms, companies, trusts, and NGOs in India. PAN is mandatory for income tax filing, bank account opening, high-value financial transactions, GST registration, and all business registrations. Diwan Professional Team will assists with fresh PAN applications (Form 49A (now Form 93 as per new act) for Indian entities, Form 49AA (Now From 95 as per new act) for foreign nationals), corrections/alterations to existing PAN data, and PAN-Aadhaar linking.
✦ Note: From July 1, 2025, Aadhaar number is mandatory for all fresh PAN applications. Inoperative PAN (not linked to Aadhaar) results in higher TDS deduction at 20% instead of the normal rate, and return processing may be held up until PAN is reactivated.
New PAN Form
Form 49A (Indian) / 49AA (Foreign)
Correction Form
Request for Change/Correction in PAN
Processing Fee
₹91 (Indian address) / ₹862 (foreign address)
Delivery Time
Physical card in 15 days; e-PAN in 48 hrs
A Tax Audit under Section 44AB of the Income Tax Act, 1961 (now Section 63 of the income Tax Act, 2025) is the examination of a taxpayer’s books of accounts by a practising Chartered Accountant. It ensures that income, deductions, and tax computations are correctly reported as per the provisions of the Income Tax Act. The audit report is filed in Form 3CA/3CB along with Form 3CD — now proposed to be replaced by Form 26 under the new Income Tax Rules, 2026
Assurance services go beyond compliance auditing and provide stakeholders with independent verification and confidence over financial and tax information. Key assurance services in a tax practice include:
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