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INCOME TAX · ITR · NOTICES

Your ITR, filed right and on time, with tax planned in advance.

Salaried, business owner, professional, investor or NRI, Finfox prepares your return after matching AIS, TIS and Form 26AS, compares old and new regimes, and handles notices. Updated for the new Income-tax Act, 2025 and the “tax year” concept.

CA-reviewed work · Clear scope, document checklist and fees shared before we start.

LATEST UPDATES · 2025–26

What changed recently, and what it means for you.

NEW ACT

Income-tax Act, 2025 from 1 April 2026

The 1961 Act has been replaced. “Tax year” replaces previous year/assessment year, and forms are renumbered (Form 16 is now Form 130, 26AS is Form 168). Returns for FY 2025-26 still follow the old Act.

NEW REGIME

No tax up to ₹12 lakh income

Under the default new regime, rebate makes income up to ₹12 lakh tax-free. For salaried taxpayers with the ₹75,000 standard deduction, that is ₹12.75 lakh.

DUE DATES

31 August for non-audit business

ITR-1 and ITR-2 are due by 31 July, ITR-3 and ITR-4 (non-audit) by 31 August and tax audit cases by 31 October.

REVISED & ITR-U

More time to correct mistakes

Revised returns can now be filed up to 12 months from the end of the tax year (a fee applies after 31 December). Updated returns (ITR-U) can be filed up to 48 months.

WHO WE FILE FOR

The right ITR, for every type of income.

ITR-1 / ITR-2Salaried & pensioners

Salary & House Property

Form 130 (Form 16) check, HRA, deductions, two house properties, regime comparison and refund tracking.

ITR-2Investors

Capital Gains

Shares, mutual funds, property and crypto/VDA gains, with grandfathering and exemption planning.

ITR-3Business & professionals

Books-based Return

Business or professional income with P&L, balance sheet and, where needed, tax audit.

ITR-4Small businesses

Presumptive Taxation

Simplified presumptive income scheme for eligible small businesses and professionals.

NRINon-residents

NRI Taxation

Residential status, Indian income, DTAA relief, TDS refund on property sale and lower-TDS certificates.

NoticesIntimations & scrutiny

Notice Replies

Replies to intimations, defective return notices, AIS mismatches, demands and rectification requests.

KEY DUE DATES

The income tax calendar we track for you.

Dates as currently notified. Government extensions, if any, are applied as announced.

15 JunAdvance tax

15% of estimated annual tax

15 SepAdvance tax

45% cumulative

15 DecAdvance tax

75% cumulative

15 MarAdvance tax

100% cumulative

31 Jul / 31 AugITR due date

31 July for ITR-1/2 · 31 August for non-audit ITR-3/4

31 Octaudit cases

Tax audit report and ITR for audit cases

SERVICE SCOPE

Complete income tax support, start to finish.

We start from your AIS and TIS, so nothing the department already knows is missed, and we plan tax before the year ends instead of after.

✓ITR preparation and filing for individuals, HUFs, firms, LLPs and companies
✓Old vs new regime comparison and year-round tax planning
✓AIS / TIS / Form 26AS reconciliation before filing
✓Capital gains computation for shares, mutual funds and property
✓Advance tax estimation and quarterly reminders
✓Tax audit and audit report filing for eligible businesses
✓Revised, belated and updated return (ITR-U) filing
✓Refund follow-up and rectification requests
✓Replies to income tax notices, demands and scrutiny
DOCUMENTS WE NEED

A short, clear checklist.

01

Basic details

PAN, Aadhaar, e-filing login (or we help reset it) and bank account details for refund.

02

Income proofs

Form 130/16, salary slips, interest certificates, capital gains statements, rent details and business books.

03

Deductions & investments

Only for old regime: 80C, 80D, home loan interest certificate, donations and other proofs.

Finfox fox advisor
Got an income tax notice?

Send us the notice on WhatsApp. We will explain what it means and the deadline for reply.

WhatsApp +91 94689 33915
HOW IT WORKS

Your ITR in three simple steps.

01

Share documents

Send PAN, AIS and income proofs by WhatsApp or email. We share a checklist if anything is missing.

02

We compute & compare

Income is matched with AIS/26AS, both regimes are compared and a draft computation is shared for approval.

03

File & verify

The return is filed, e-verified and tracked until processing and refund.

FAQs

Common income tax questions.

Have a situation that isn't covered here? Share the details and we'll explain the next steps.

Ask Finfox ↗
Old or new tax regime: which is better for me?+

The new regime is the default and has lower slab rates with income up to ₹12 lakh effectively tax-free. The old regime may still be better if you claim large deductions such as home loan interest, HRA and 80C. We compute both before filing.

What are the new tax slabs?+

Under the new regime: nil up to ₹4 lakh, 5% for ₹4–8 lakh, 10% for ₹8–12 lakh, 15% for ₹12–16 lakh, 20% for ₹16–20 lakh, 25% for ₹20–24 lakh and 30% above ₹24 lakh, plus cess. Rebate makes income up to ₹12 lakh tax-free.

What is the penalty for filing ITR late?+

A late fee of ₹1,000 applies if income is up to ₹5 lakh and ₹5,000 above that, plus interest on unpaid tax. A belated return also locks you into the new regime and some losses cannot be carried forward.

What does the new Income-tax Act, 2025 change for me?+

From 1 April 2026, “tax year” replaces previous year and assessment year, sections and forms are renumbered and the law is simplified. Tax rates and most benefits continue. Returns for FY 2025-26 are still filed under the old Act.

I missed reporting some income. Can I correct it?+

Yes. You can file a revised return within the allowed time, or an updated return (ITR-U) within 48 months by paying additional tax. Correcting early costs less than waiting for a notice.

Do you handle income tax notices?+

Yes. We handle intimations, defective return notices, AIS mismatch communications, demands, rectifications and scrutiny assessments.

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