Who needs to file and why it matters
You must file a return if your total income exceeds the basic exemption limit, and in several other cases even when it does not, such as holding foreign assets or meeting specified spending or deposit conditions. Companies and firms file every year irrespective of profit or loss.
Beyond the legal requirement, a filed return is the document banks, embassies and government tenders ask for as proof of income. It is also the only way to claim a refund of excess TDS, carry forward business or capital losses, and report foreign income or assets correctly. Filing late can cost you the right to carry forward certain losses, so timing matters as much as accuracy.
How we prepare your return
We begin with a short questionnaire on your income sources, then collect Form 16, bank interest certificates, capital gains statements from your broker or mutual fund, rent details and, for business owners, the profit and loss account and balance sheet.
Every return is reconciled with the Annual Information Statement and Form 26AS before filing, because mismatches with reported TDS, dividends or high-value transactions are the most common trigger for automated notices. We compare the old and new tax regimes where you are eligible to choose, select the correct ITR form, share a computation for your approval, file the return and help you complete e-verification.
Income tax filing for Delhi taxpayers
Delhi has a large base of salaried professionals in government, corporate and diplomatic-sector roles, alongside independent consultants, lawyers, doctors and traders. Each group needs different handling: consultants receiving professional fees often have TDS deducted by several clients that must all be traced, while traders need business income computed from their books rather than estimates.
NCR residents frequently own property in one city and work in another, earning rent from a Noida or Gurugram flat while living in Delhi, or carry home loans on under-construction projects. Many also hold ESOPs or RSUs from multinational employers, or foreign bank accounts, which must be disclosed in Schedule FA. We account for these specifics instead of filing a generic return.
Working with Finaccle's Delhi office
Our process is entirely digital: you upload documents to a secure folder, we prepare the computation, and a Chartered Accountant reviews it before you approve and we file. You can meet our team at WeWork Worldmark 6, Aerocity if you prefer a face-to-face discussion.
We keep your filed returns, computations and working papers on record, so next year's filing, a loan application or a reply to a notice under the e-proceedings system starts from complete information. If the department issues an intimation under section 143(1) or a defective return notice, we review it and prepare the response with you.
Income Tax Return Filing in Delhi: FAQs
Which law applies to my return for income earned in FY 2025-26?
Income earned between 1 April 2025 and 31 March 2026 is reported for Assessment Year 2026-27 under the Income-tax Act, 1961. The Income-tax Act, 2025 came into force on 1 April 2026 and applies to income from Tax Year 2026-27 onwards, so you file only one return for FY 2025-26.
Which ITR form should a Delhi-based freelancer or consultant use?
It depends on how business or professional income is computed. Consultants who opt for presumptive taxation under section 44ADA generally use ITR-4 if otherwise eligible, while those maintaining books and computing actual profit use ITR-3. Capital gains, foreign assets or directorships can also rule out ITR-4, so the full income picture decides it.
What should I do if my AIS shows income I did not receive?
Do not ignore it. Submit feedback on the AIS itself, marking the entry as incorrect, duplicate or belonging to another person, and keep supporting evidence. Then file your return based on correct figures. We review AIS entries line by line before filing so that differences are explained rather than left to trigger a notice.
Can I still file if I have missed the due date?
Yes, a belated return can usually be filed after the due date within the time limit prescribed, with a late fee and interest on any unpaid tax. However, some benefits are lost, such as carrying forward business and capital losses. If that window has also closed, an updated return may be possible in specific circumstances.
Talk to Finaccle
Read more about our Income Tax Return Filing services, or book a free consultation with our Delhi team. You can also browse our FAQs.
Income Tax Return Filing support is also available in Surat and Mumbai.