What is Income Tax Return (ITR)?
📌 TL;DR - Income Tax Return Filing Services at a Glance
An Income Tax Return (ITR) is a prescribed form through which a taxpayer declares their total income earned during a financial year, deductions claimed, taxes paid, and any tax refund due. Filing an ITR is a compliance obligation under Section 139 of the Income Tax Act. As of 1 April 2026, the Income Tax Act, 2025 replaces the Income Tax Act, 1961, introducing a unified 'Tax Year' replacing the earlier Financial Year and Assessment Year terminology.
For income earned in FY 2025-26 (April 2025 to March 2026), the ITR will be filed under the Income Tax Act, 1961 provisions. Income earned from FY 2026-27 onwards will be governed by the Income Tax Act, 2025.
| Parameter | Details |
|---|---|
| Service | ITR Filing - Income Tax Return Filing |
| Who Files | Individuals, HUF, Firms, Companies, LLP with taxable income |
| Due Date (FY 2025-26) | ITR-1/2: 31 July 2026 | ITR-3/4: 31 Aug 2026 | Audit: 31 Oct 2026 |
| Late Filing Fee | Up to Rs. 5,000 (Rs. 1,000 if income below Rs. 5 lakh) under Section 234F |
| Patron Accounting Fee | Starting from INR 499 (Exl GST and Govt. Charges) |
| Applicable Law | Income Tax Act, 1961 (replaced by Income Tax Act, 2025 from 1 Apr 2026) |
| E-Filing Portal | https://www.incometax.gov.in |
Patron Accounting provides end-to-end CA-assisted ITR filing for salaried individuals, business owners, freelancers, NRIs, and companies. Our team of qualified Chartered Accountants ensures accurate computation, maximum deduction optimization, and timely e-filing on the Income Tax portal.
Content is reviewed quarterly for accuracy.