Casela Advisors

Business Enquiries +91-9654 229 988 | HR +91-9819 000 862 / +91-9819 000 147

Get in Touch

Salaried Person ITR

Home > Services > Salaried Person ITR

Salaried Person ITR

ITR Filing for Salaried Individuals by Casela Advisors

Filing your Income Tax Return (ITR) as a salaried employee has never been easier. At Casela Advisors, our team of expert Chartered Accountants (CAs) specializes in ITR filing for salaried persons, ensuring accuracy, compliance, and maximum tax savings. Whether you have income from salary, interest, dividends, or capital gains, we handle every aspect of your tax return filing end-to-end.

Overview

An Income Tax Return (ITR) is a prescribed form through which you report your total income for a financial year and declare the tax payable or paid to the Income Tax Department. For salaried employees, salary is typically the primary income source, but you may also earn interest on bank deposits, capital gains, or dividends.

Under Section 139(1) of the Income Tax Act, if your gross total income exceeds the basic exemption limit (currently ₹2.5 lakh), you must file an ITR. Even if your employer deducts TDS (Tax Deducted at Source), filing a return helps you:

  • Claim deductions under Sections 80C, 80D, 80TTA, etc.
  • Obtain refunds for excess TDS or advance tax paid.
  • Carry forward losses (capital losses or business losses, if any).
  • Comply with visa, loan, and financial documentation requirements.

Documents Required for ITR Filing of a Salaried Person

To file your ITR accurately, gather the following essential documents and information:

  1. Form 16
    • Issued by your employer, it summarizes your salary, allowances, deductions, and TDS details.
  2. Form 26AS (Tax Credit Statement)
    • Available on the Income Tax e-filing portal or via net banking (if your PAN is linked). It shows TDS/TCS, advance tax, and self-assessment tax credits.
  3. Bank Statements / Passbooks
    • For interest income on savings or fixed deposits. Also provide TDS certificates (Form 16A/16B) for interest-bearing instruments.
  4. PAN & Aadhaar
    • Scanned copies of your PAN card and Aadhaar card (for e-verification).
  5. Investment & Deduction Proofs
    • Evidence for Section 80C (PPF, ELSS, life insurance), Section 80D (medical insurance), Section 80TTA (savings account interest), Section 80E (education loan), Section 80G (donations), etc.
  6. Capital Gains Statements (if applicable)
    • Sale deeds, purchase agreements, share transaction statements, and proof of indexation for long-term capital gains.
  7. Other Income Proofs
    • Rental income (rental agreements, municipal tax receipts), freelance income (invoices, client statements), or any other miscellaneous income.
  8. Previous Year’s ITR & ITR-V Acknowledgment (if you’ve filed before)
    • Helps with pre-filling details and reconciliation.

Procedure for Online ITR Filing for Salaried Employees

Our streamlined online ITR filing process ensures your return is filed accurately and on time. Follow these simple steps:

  1. Submit Your Documents & Data
    • Email your Form 16, Form 26AS, bank statements, and investment proofs to Casela Advisors via our secure client portal or email.
  2. Initial Consultation & Verification
    • A Compliance Manager (CA) from Casela Advisors reviews your documents and contacts you to resolve any queries—salary components, allowance breakdown, or other income sources.
  3. Income & Tax Computation
    • Our tax professional prepares a detailed Income Computation & Tax Calculation worksheet, reconciling your TDS credit (Form 26AS) with your salary and other income, and verifying eligible deductions.
  4. ITR Form Preparation
    • Based on your income profile, we select the correct ITR Form (e.g., ITR-1/Sahaj for salary + one house property + other sources; ITR-2 if you have capital gains or foreign income).
    • We prefill your personal details (PAN, Aadhaar, bank account for refund, etc.) and upload schedules for salary, interest, and deductions.
  5. Review & Approval
    • We share the draft ITR form and computation details with you. You review to confirm accuracy—verify TDS amounts, deduction claims, and bank account details for refund.
  6. E-Filing & E-Verification
    • Once approved, Casela Advisors files your return on the Income Tax e-filing portal.
    • You receive an ITR-V Acknowledgment via email. If you’ve e-verified through Aadhaar OTP, net banking, or DSC (Digital Signature Certificate), your filing is complete. Otherwise, you can physically send a signed ITR-V within 120 days.
  7. Post-Filing Documents Provided
    • You’ll receive:
      • Final Income Computation & Tax Summary (in PDF)
      • ITR Acknowledgment (ITR-V) PDF
      • Reconciled Form 26AS (TDS/TCS statement)
      • Balance Sheet & Profit & Loss Statement (if any business income)
      • All relevant schedules and proofs used for filing

Features & Benefits of Filing ITR with Casela Advisors

Filing your ITR through Casela Advisors delivers tangible advantages:

  1. Full Compliance & Peace of Mind
    • Stay compliant with the Income Tax Act. Avoid penalties under Section 234A (1% per month on tax due) and Section 234F (late filing fee up to ₹10,000) by filing before the due date (typically July 31).
  2. Maximize Tax Savings
    • Our CAs identify every eligible deduction—Section 80C (UP to ₹1.5 lakh), Section 80D (medical insurance premium), Section 80TTA (₹10,000 interest on savings), Section 80G (charitable donations), and more—reducing your taxable income.
  3. Faster Refunds
    • If excess TDS or advance tax was paid, we ensure your refund claim is processed quickly. Accurate bank account and IFSC details ensure direct credit to your account.
  4. Carry Forward Losses
    • If you have a capital loss (e.g., sale of shares or property), file your ITR timely to carry forward losses for up to eight years, offsetting future capital gains.
  5. Loan & Visa Documentation
    • A filed and acknowledged ITR is mandatory when applying for home loans, personal loans, or credit cards.
    • For visa applications, embassies often require ITR copies for the last 2–3 years as proof of stable income.
  6. Avoid Notices & Penalties
    • We reconcile TDS entries in Form 26AS and adjust any discrepancies before filing—minimizing the risk of Income Tax notices for mismatched TDS or underreporting.
  7. Professional Representation
    • If you receive an Income Tax notice—for TDS mismatch, defective return (Section 139(1)), or scrutiny (Section 143(2))—our team prepares the response, attaches supporting documents, and follows up on your behalf.
  8. Personalized Tax Planning
    • Beyond filing, Casela Advisors advises on tax-saving investments (ELSS, PPF, NPS), retirement planning, and optimal salary structuring to reduce your annual tax outgo.
  9. Dedicated Year-Round Support
    • Our experts stay updated on tax law amendments, ensuring you benefit from new deductions, rebates, and government notifications.

Why Filing ITR Matters for Salaried Individuals

  • Legal Compliance: Filing ITR demonstrates that you’re a law-abiding citizen, meeting all statutory requirements.
  • Proof of Income: ITR serves as proof of your income for visa applications, loan approvals, credit card issuance, or professional registrations.
  • Claiming Refunds: Excess TDS deducted by your employer or banks can only be refunded after ITR filing.
  • Accurate Tax Planning: Helps track yearly income growth, plan investments, and optimize tax liability for future years.
  • Avoid Penalties: Late filing or non-filing invites penalties and interest on unpaid taxes, increasing your financial burden.

Get Started with Casela Advisors Today

Contact Us

Hi, How Can We Help You?
ITR Filing Of Salaried Person - Casela Advisors