Income Tax

Business ITR Filing

Accurate ITR filing for proprietors and small businesses.

About Business ITR Filing

Business owners and self-employed professionals must file their income tax returns reporting business or professional income, usually in ITR-3 or, under the presumptive scheme, ITR-4. We compute your taxable profits accurately — accounting for revenue, expenses, depreciation and allowable deductions — and advise whether the presumptive taxation scheme under Section 44AD/44ADA benefits you. Correct filing helps you avoid scrutiny, claim eligible business expenses, and carry forward any losses. We also determine whether a tax audit is applicable based on your turnover and profit ratio, and ensure the return is filed within the due date to avoid interest and penalties.

Who needs this

Proprietors, freelancers and professionals with business or professional income.

Documents required

The process — step by step

  1. Compile books, bank statements and expenses
  2. Compute profits or apply presumptive taxation
  3. Check tax-audit applicability
  4. Prepare and file ITR-3/ITR-4
  5. E-verify and pay any balance tax

Timeline & fees

Timelines and government fees are indicative and subject to processing by the relevant authority. Approval and its timing are decided by the authority and cannot be guaranteed.

Frequently asked questions

What is presumptive taxation?

Under Section 44AD/44ADA, eligible businesses/professionals can declare income at a prescribed rate without detailed books.

When is a tax audit required?

Generally when turnover exceeds prescribed limits or profit is below the presumptive rate with total income above the exemption.

Which ITR do proprietors file?

ITR-3 for regular business income, or ITR-4 under the presumptive scheme.

Related services

Tax Guider — A unit of Corpzen Advisors Private Limited, Chennai, Tamil Nadu.

+91 86950 08695 · info@taxguider.in · Mon – Sat · 10:00 AM – 7:00 PM