ITR Preparation Services the computation behind every accurate return.
Complete income tax return preparation — AIS reconciliation, income computation across all five heads, capital gains workings, deduction optimisation, old vs new regime comparison, and full schedule preparation — delivering a verified, notice-proof ITR ready for your review before submission, by qualified Chartered Accountants in Mumbai.
ITR preparation is the intellectual foundation of accurate tax compliance. Before a single schedule is populated or a rupee of tax is declared, a correctly prepared ITR demands a thorough review of the Annual Information Statement, cross-verification of every income source against source documents, challenge of incorrect pre-filled data, and a structured income computation that correctly applies set-offs, deductions, and carry-forwards under the Income Tax Act. Filing speed is irrelevant if the underlying computation is wrong.
The income tax department's AI-driven scrutiny tools increasingly compare the income declared in ITRs with the financial trail visible in AIS, GST returns, TDS data, and banking transactions. A capital gain unreported because the broker's capital gains statement was not reviewed, an FD interest income missed because the bank did not issue Form 16A, or a property sale reported in AIS at stamp duty value while the ITR uses a different consideration — each of these is a mismatch that invites a Section 143(1) adjustment notice or a Section 148 reassessment.
Our ITR preparation service is offered as a standalone engagement for those who wish to review the computation before filing, or as an integrated part of our full ITR filing service. Every engagement includes a written income computation statement — with head-wise income, deductions claimed, regime comparison, tax computation, and TDS credit reconciliation — shared for the client's review and approval before the ITR is submitted. You see exactly what is being filed and why before we file it.
What ITR Preparation Covers
AIS & Form 26AS Reconciliation
Every AIS entry reviewed, feedback submitted for incorrect data, and all income verified against source documents — before any schedule is populated in the ITR.
Five-Head Income Computation
Salaries, house property, business or profession, capital gains, and other sources — each computed independently with correct exemptions, deductions, and set-off rules applied.
Capital Gains Workings
Full Schedule CG preparation — STCG and LTCG on equity, debt, mutual funds, and property — with correct holding periods, indexed or unindexed cost, Section 50C analysis, and exemption computation.
Old vs New Regime Comparison
Side-by-side tax computation under both regimes — with all eligible deductions applied under the old regime — to identify which regime results in lower net tax outflow before the return is locked.
Deduction & Exemption Optimisation
Every eligible deduction identified and correctly quantified — HRA, LTA, standard deduction, 80C, 80D, 80G, 80TTA, 24(b) home loan interest, and all other applicable sections.
TDS Credit & Advance Tax Reconciliation
TDS credits in Form 26AS matched against income declared in the ITR — advance tax and self-assessment tax reconciled — to arrive at the correct tax payable or refund due.
Our ITR Preparation Process
Document Review
All income documents collected and reviewed — Form 16, AIS, broker statements, bank interest certificates, rent receipts, investment proofs — against a tailored checklist.
AIS Verification & Feedback
AIS reviewed entry by entry — incorrect or duplicate entries challenged through the AIS feedback mechanism before the computation begins.
Income Computation
Head-wise income computed, set-offs applied, deductions optimised, regime compared — producing a complete, written income tax computation statement for your review.
Schedule Preparation
All ITR schedules populated — Schedule CG, Schedule HP, Schedule S, Schedule OS, Schedule AL, Schedule FSI where applicable — fully verified against the computation.
Client Review & Approval
Complete computation and draft ITR shared for your review — with a clear explanation of every income item, deduction claimed, and tax liability — before the return is filed.
Why Professional ITR Preparation Matters
Frequently Asked Questions
ITR preparation is the process of computing total income, verifying all income sources against AIS and Form 26AS, identifying eligible deductions, comparing old vs new tax regime, and preparing all required schedules — before the return is submitted. ITR filing is the act of submitting the prepared return and completing e-verification. Preparation is the intellectual core of the process; filing is the administrative conclusion.
The income tax portal's AIS pre-fills returns with third-party data — banks, employers, brokers, and registrars. Accepting pre-filled data without verification is one of the most common causes of Section 143(1) notices. Pre-filled figures are often incorrect or duplicated. A professionally prepared ITR starts with a review of every AIS entry and reconciles all figures to actual records before any schedule is populated.
Income computation covers all five heads: Salaries (perquisites, allowances, HRA); House Property (annual value, home loan interest); Business or Profession (P&L, depreciation, disallowances); Capital Gains (STCG and LTCG on all asset classes); and Other Sources (interest, dividends, family pension). Set-offs, brought-forward losses, and Chapter VI-A deductions are applied after computing gross total income.
We compute taxable income and tax liability independently under both regimes — applying all eligible deductions under the old regime and the flat slab structure under the new regime. A comparison table shows net tax payable under each regime after rebate, surcharge, and cess — recommending the lower option. Salaried employees can change the regime at ITR filing even if the employer applied a different one during TDS deduction.
Capital gains computation involves determining the holding period, identifying the correct cost of acquisition, applying Section 50C for property sales, and computing the net gain. For listed equity and mutual funds, the pre-2018 grandfathering provision under Section 112A is applied. Exemptions under Sections 54, 54EC, and 54F are applied to arrive at taxable gain. We prepare Schedule CG from broker statements, property documents, and capital gains statements.
AIS allows taxpayers to provide feedback on each reported transaction — confirming it as correct, partially correct, or incorrect. Where income is wrongly attributed to your PAN — a joint account interest, a duplicate property transaction — submitting feedback before filing ensures the ITR reflects the correct position. We manage the AIS feedback process as part of every ITR preparation engagement.
A complex ITR-2 may require Schedule S (salary), Schedule HP (each property separately), Schedule CG (by asset type and holding period), Schedule OS (other sources), Schedule AL (assets and liabilities for income above ₹50 lakh), Schedule FSI (foreign income), Schedule TR (foreign taxes paid), Schedule FA (foreign assets), and Schedule 80G (donations). Each schedule requires separate source documents and must reconcile to the total income computation before the return is assembled.
For salaried individuals with salary, interest, and basic capital gains, preparation and filing typically takes 24 to 48 hours from complete document receipt. Complex ITR-2 with multiple capital gain types, foreign income, and Schedule AL takes 3 to 5 working days. Company ITR-6 preparation, coordinated with the tax audit, typically takes 5 to 10 working days after audited financials are available.
See Your Computation Before We File It
Every ITR we prepare comes with a written income computation — head-wise income, deductions, regime comparison, and TDS reconciliation — shared for your review and approval before a single byte reaches the portal.
Start ITR Preparation or call +91 9819 000 511