Business ITR Filing
Business ITR Filing made easy with CASYST expert assistance.
Business owners and professionals must report income from business or profession and pay tax on their profits. Correct bookkeeping and the right presumptive scheme can save you tax. CASYST prepares and files your business ITR with full support.
What is Business ITR Filing?
A business ITR reports income from business or profession, along with other sources. Proprietors, freelancers and professionals commonly file ITR-3, or ITR-4 if they opt for presumptive taxation under the relevant sections.
Depending on turnover and profit, accounts may need to be maintained and audited, so early planning is valuable.
Who needs Business ITR Filing?
- Proprietors and small traders
- Freelancers, consultants and professionals
- Businesses using presumptive taxation
- Owners whose accounts require audit
Benefits of Business ITR Filing
Tax optimisation
Choose between actual and presumptive taxation.
Compliance
Meet audit and reporting requirements.
Loan and tender ready
Filed returns support credit applications.
Loss carry forward
Preserve business losses for future years.
Clean records
Well-organised books simplify future filings.
Eligibility
- Proprietors, freelancers and professionals with business income
- Businesses that want to use presumptive taxation, where eligible
- Books and records for the year
- A valid PAN and bank account details
Documents required
- PAN and Aadhaar
- Profit and loss statement and balance sheet
- Sales and expense records
- Bank statements
- GST returns where applicable
- Details of assets, loans and capital
Business ITR Filing process
- 1Step 1
Gather records
You share accounts and bank statements.
- 2Step 2
Assess audit and scheme
We check audit applicability and presumptive options.
- 3Step 3
Prepare financials
We prepare or verify the profit and loss statement and balance sheet.
- 4Step 4
Compute tax
We calculate business income and tax.
- 5Step 5
Review and approve
You review the return.
- 6Step 6
File and verify
We file the ITR and help you verify.
After you file
- E-verify the return
- Pay any balance tax and interest
- Keep books and records for the required period
- Plan advance tax for the next year
- File the audit report where required
ITR-3 vs ITR-4
| Point | ITR-3 | ITR-4 |
|---|---|---|
| Income basis | Actual books | Presumptive |
| Books | Required | Not required |
Presumptive taxation
| Section | Applies to |
|---|---|
| 44AD | Small businesses within the turnover limit |
| 44ADA | Specified professionals within the receipts limit |
Tax audit
A tax audit is required when turnover or profits cross the limits set by the Income Tax Act. The limits change from time to time, so we confirm them for you.
Related services
Business ITR Filing cost
Our Business ITR Filing package starts from ₹2,499. Government fees, stamp duty and other statutory charges are separate and depend on your state and the exact filing involved. We give you a clear, itemised quote before we start, with no hidden charges.
Get a QuoteBusiness ITR Filing checklist
- Gather records
- Assess audit and scheme
- Prepare financials
- Compute tax
- Review and approve
- File and verify
Frequently asked questions
ITR-3 for regular business or profession, ITR-4 for presumptive taxation. We select the correct one.
When turnover or profits cross the prescribed limits. We check for you.
A simplified scheme where income is deemed at a set percentage of turnover for eligible taxpayers.
Certain professionals can opt for a similar scheme up to a limit.
Depends on your income and scheme. We guide you.
Ready to register Business ITR Filing?
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