Rated 4.9/5 by 312+ Chennai clientsZero penalty record across all filings24-hour response · WhatsApp-first supportOffices: Alapakkam, Maduravoyal & Nerkundram15+ years of expert tax consulting in Chennai500+ active clients across 540+ Chennai areasRated 4.9/5 by 312+ Chennai clientsZero penalty record across all filings24-hour response · WhatsApp-first supportOffices: Alapakkam, Maduravoyal & Nerkundram15+ years of expert tax consulting in Chennai500+ active clients across 540+ Chennai areas
Professional Income Tax Advisory in Korattur, Chennai by qualified experts. 15+ years experience, zero-penalty track record. Offices at Alapakkam, Maduravoyal & Nerkundram. Call 9566-068-468 for free consultation.
SectionSection 148 Income Tax Act 1961 — Reassessment — IT officer can reopen assessment within 3 years (above ₹50L — 10 years) if income escaped
SectionSection 115BAC Income Tax Act — New tax regime — no deductions except standard deduction ₹75,000, but lower slab rates. Default from AY 2024-2
NotificationCBDT Notification dated 22-Apr-2024 — AIS (Annual Information Statement) scope expanded — now includes savings account interest, dividend, MF transa
Relevant Court Rulings
Supreme Court (2022)
Checkmate Services v. CIT (2022) 448 ITR 518 (SC)... — Employees PF deposited after PF statutory due date not deductible under Section 36(1)(va) — even if deposited before ITR due date. Statutory deadline of PF Act
Bombay HC (2022)
PCIT v. HDFC Bank Ltd (2022) 444 ITR 76... — Bad debt written off in books is allowable under Section 36(1)(vii) — proof of irrecoverability not required if debt was offered as income earlier and written o
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Income Tax Advisory in Korattur — Plans & Pricing
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Korattur is an industrial and residential area in north-west Chennai with small and medium manufacturing units.
FilingPro serves Korattur clients for Income Tax Advisory completely remotely — share documents via WhatsApp to 9566-068-468. Our team understands the specific compliance and business environment of Korattur, Chennai. Call for a free consultation today.
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Income Tax Advisory in Korattur — Complete Guide
Income Tax Advisory in Korattur by qualified professionals — FilingPro Korattur provides expert Tax Advisory services for businesses and individuals across Chennai. Accurate, on-time service with 15+ years of experience, zero-error track record, and WhatsApp-first support. Starting from Advisory from ₹1,500. Korattur is an industrial and residential area in north-west Chennai with small and medium manufacturing units — making Korattur a key market for professional Tax Advisory services in Chennai.
Income Tax Advisory in Korattur
Income Tax Advisory in Korattur delivers expert Tax Advisory service with qualified professionals and zero-error track record.
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A qualified Tax Advisory consultant in Korattur handles every aspect of your tax advisory requirement efficiently.
Expert Tax Advisory Service in Korattur
Professional Tax Advisory service in Korattur with 15+ years of experience and 4.9★ client rating.
Tax Advisory Professional in Korattur, Chennai
A certified Tax Advisory expert in Korattur ensures complete compliance, accurate filing, and maximum benefit for your business.
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Qualified professionals handle your Tax Advisory in Korattur. WhatsApp documents — we begin within 24 hours. Advisory from ₹1,500. Free consultation.
Section 24(b) allows deduction of home loan interest — up to ₹2 lakh per year for self-occupied property (construction completed within 5 years of loan).
Home loan interest under Section 24(b) — ₹2 lakh deduction for self-occupied
Dividend income from shares and MF — tax at slab rate correctly declared
Form 26AS verified — TDS entries matched with employer and bank certificates
Freelancer income under 44ADA — 50% presumptive deduction for professionals
ITR-3 filed for business income — profit and loss account and balance sheet
Foreign income and assets — Schedule FA correctly filled for FEMA compliance
Log in to incometax.gov.in → e-File → View Filed Returns → select the assessment year → check processing status.
ITR filed before July 31 deadline — refund received within 30-45 days
Income tax notices include: 139(9) defective return, 143(1)(a) intimation for adjustments, 143(2) scrutiny selection, 148 reassessment and 271(1)(c) penalty. Each has a specific response timeline. FilingPro responds to all notices within 48 hours wit
What is capital gains tax and how is it calculated?
Capital gains arise when you sell assets at a profit. Short-term capital gains (STCG) on equity/MF (holding < 1 year) are taxed at 20% from FY 2024-25. Long-term capital gains (LTCG) on equity above ₹1.25 lakh are taxed at 12.5% without indexation. P
Which ITR form should I use?
ITR-1 (Sahaj): Salary + one house property + other sources, income below ₹50 lakh. ITR-2: Salary + capital gains + multiple properties, income above ₹50 lakh, or foreign income. ITR-3: Business/professional income + any of above. ITR-4 (Sugam): Presu
What is the difference between old and new tax regime?
Old regime allows deductions (80C, 80D, HRA, home loan interest) but has higher slab rates. New regime (default from FY 2023-24) has lower rates with limited deductions (only standard deduction ₹75,000 and employer NPS). FilingPro computes both and r
How is the income tax refund processed?
After ITR filing and e-verification, CPC (Centralized Processing Centre) Bengaluru processes the return. If excess TDS has been deducted, the refund is directly credited to the bank account registered on the IT portal (IFSC, account number verified).
What is the tax on dividends received?
Dividends are taxable in the hands of the recipient at applicable slab rates from FY 2020-21. TDS of 10% is deducted on dividends above ₹5,000 from Indian companies. Foreign dividends are taxable at slab rate. FilingPro ensures all dividend income is
“NRI with rental income in India. FilingPro filed NRI ITR with DTAA benefits applied correctly. Refund processed within 30 days. Professional service for complex case.”
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“My ITR had capital gains, rental income and salary. FilingPro sorted everything — correct ITR form, correct capital gains computation, all deductions. Clean, notice-free filing.”
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Common questions from Korattur clients. Call 9566-068-468 for specific queries.
Dividends are taxable in the hands of the recipient at applicable slab rates from FY 2020-21. TDS of 10% is deducted on dividends above ₹5,000 from Indian companies. Foreign dividends are taxable at slab rate. FilingPro ensures all dividend income is correctly reported with TDS credit in the ITR.
Income tax notices include: 139(9) defective return, 143(1)(a) intimation for adjustments, 143(2) scrutiny selection, 148 reassessment and 271(1)(c) penalty. Each has a specific response timeline. FilingPro responds to all notices within 48 hours with complete documentary support and legal arguments.
Capital gains arise when you sell assets at a profit. Short-term capital gains (STCG) on equity/MF (holding < 1 year) are taxed at 20% from FY 2024-25. Long-term capital gains (LTCG) on equity above ₹1.25 lakh are taxed at 12.5% without indexation. Property LTCG is taxed at 12.5% without indexation or 20% with indexation.
Form 10E is mandatory when claiming Section 89(1) relief on salary arrears received in the current year. This relief prevents paying excess tax on lump-sum arrear receipts by spreading the income over the years to which it relates. Form 10E must be filed on the IT portal BEFORE filing the ITR, otherwise the claim is disallowed.
Section 24(b) allows deduction of home loan interest — up to ₹2 lakh per year for self-occupied property (construction completed within 5 years of loan). For let-out property, full interest is allowed as deduction. Pre-EMI interest is deductible in 5 equal instalments after construction completion.
TDS deducted by employer is not the final tax. It is an advance payment. If your employer has deducted correct TDS based on your declarations, your tax liability may be nil at filing. But you must still file ITR (if income exceeds basic exemption limit) to claim refund of any excess TDS or other unclaimed deductions.
FilingPro reconciles every item in AIS and Form 26AS against documents provided, discloses all income correctly, claims only verified deductions with supporting documents, files using the correct ITR form and e-verifies immediately. This multi-layer review virtually eliminates post-filing notice risk.
You can file belated returns (within the assessment year) and updated returns (ITR-U within 2 years from end of AY) for previous years. Updated returns require payment of 25% (within 1 year) or 50% (within 2 years) additional tax on incremental tax amount. FilingPro helps clients regularise all pending years.
The due date for filing ITR for individuals (non-audit cases) is July 31 of the Assessment Year. For audit cases, it is October 31. Filing after July 31 but before December 31 attracts a late fee of ₹5,000 under Section 234F (₹1,000 if income ≤ ₹5 lakh). After December 31, only ITR-U (updated return) is available.
Section 80C allows deductions up to ₹1.5 lakh per year for: EPF/PPF contributions, LIC premium, ELSS (equity mutual funds), NSC, 5-year tax-saving FD, home loan principal repayment, Sukanya Samriddhi, ULIP and tuition fees for 2 children. FilingPro identifies all eligible 80C investments for each client.
Section 44AD allows small businesses (turnover up to ₹3 crore with 95%+ digital receipts or ₹2 crore otherwise) to declare 8% (6% for digital receipts) of turnover as income without maintaining books. Section 44ADA allows professionals (receipts up to ₹75 lakh) to declare 50% of receipts as income.
ITR-1 (Sahaj): Salary + one house property + other sources, income below ₹50 lakh. ITR-2: Salary + capital gains + multiple properties, income above ₹50 lakh, or foreign income. ITR-3: Business/professional income + any of above. ITR-4 (Sugam): Presumptive income under 44AD/44ADA/44AE.
Log in to incometax.gov.in → e-File → View Filed Returns → select the assessment year → check processing status. Alternatively, check on tin.tin.nsdl.com with PAN and assessment year. FilingPro tracks refund status for all clients and escalates if refund is delayed beyond 45 days.
Yes — you can pay rent to parents and claim HRA exemption. The rent must be actually paid (preferably by bank transfer), a rent agreement must exist, and your parents must declare the rental income in their ITR. If annual rent exceeds ₹1 lakh, parent's PAN must be quoted. FilingPro structures this correctly.
Filing ITR after July 31 (before December 31) attracts Section 234F late fee of ₹5,000 (income above ₹5 lakh) or ₹1,000 (income ≤ ₹5 lakh). Additionally, you lose the right to carry forward losses (except house property loss). After December 31, only updated return (ITR-U) is available with 25-50% additional tax.
Professional Income Tax Advisory in Korattur, Chennai. Call @ 9566-068-468. Offices at Alapakkam, Maduravoyal & Nerkundram. 15+ years experience, 4.9★ rated.
FilingPro Chennai — 15+ Years of Expert Tax & Business Consulting. Offices at Alapakkam, Maduravoyal & Nerkundram, Chennai. Call @ 9566-068-468. Disclaimer: Information on this page is for general guidance only and does not constitute legal, financial or tax advice. Consult a qualified professional for specific advice.