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Effortless Business Income Tax Return (ITR) Filing with N D Savla & Associates – Mumbai
Navigating business tax returns can be complex. At N D Savla & Associates, Chartered Accountants in Mumbai, we simplify the process with precision, expertise, and local support—whether you’re a startup or an established enterprise.
What Is a Business Tax Return?
A Business Income Tax Return (ITR) is a formal declaration of a company’s income, expenses, and TDS to the Income Tax Department, submitted annually. It reflects your financial health and includes details like fixed assets, loans, debtors/creditors, and profitability.
Who Needs to File Business ITR in India?
According to tax guidelines:
Sole Proprietorships: Mandatory if total income exceeds:
₹2.5 lakh (below 60 years)
₹3 lakh (60–80 years)
₹5 lakh (above 80 years)
Partnership Firms & LLPs: Must file regardless of profit or loss.
Companies: All private, one-person, or public companies must file annually, even if dormant
Which ITR Form Should You Use?
| Business Type | Applicable ITR Form |
|---|---|
| Proprietors (regular) | ITR‑3 |
| Proprietors (presumptive) | ITR‑4 (Sugam) |
| Partnership Firms / LLPs | ITR‑5 |
| Companies (non-charitable) | ITR‑6 |
| Charities / Trusts | ITR‑7 |
ITR‑3: For proprietors with audited or non-presumptive income
ITR‑4: For small businesses under presumptive taxation (Sections 44AD/ADA/AE)
ITR‑5: LLPs, partnership firms, AOPs, etc.
ITR‑6: Companies not claiming charitable exemption
ITR‑7: Trusts, educational institutions, etc.
Filing Deadlines & Penalties
General Deadline: Filing by September 30 is typical for businesses not requiring audit .
Late Fees & Interest:
Interest under Section 234A: 1% per month on unpaid tax .
Late Fee under Section 234F: ₹5,000 (₹1,000 for income below ₹5 lakh) .
Belated Returns: Permitted until December 31 but may restrict loss carry‑forward
Why Choose Us — N D Savla & Associates?
Expert Guidance in Mumbai: Personalised attention from a reputable CA firm ensures accuracy and confidence.
Form Selection & Compliance Made Easy: We’ll pinpoint the correct ITR form for your business structure.
Deadline Management: Avoid penalties and audits with timely submissions.
Audit Support: In-depth assistance if your business requires tax audit.
Transparent & Local: Experience clarity, proximity, and stellar service tailor-made for Mumbai’s business ecosystem.
What Our Clients Say
“N D Savla is serving all professional services … tax refund … very smoothly.”
“Very helpful … ensured everything was handled efficiently.”
Contact ND Salva Now
Complying with business tax laws can feel overwhelming. With N D Savla & Associates, it’s seamless and strategic. Whether you’re a startup or a growing firm, benefit from precise ITR filing, audit readiness, and stress-free compliance.
Contact us today to get started on accurate, reliable, and timely business income tax filings.
