Taxation & ITR Filing Services in Mohali
Expert income tax and GST services for individuals, businesses, and NRIs — CA Ankush Garg your trusted tax consultant in Mohali.
Taxation in India — both direct and indirect — has become increasingly complex with frequent amendments, tightening scrutiny, and evolving compliance requirements. Filing the wrong ITR form, missing a deduction, choosing the wrong tax regime, or misreporting capital gains can result in tax demands, penalties, and notices from the Income Tax Department.
CA Ankush Garg provides comprehensive taxation services in Mohali — from individual ITR filing and tax planning to corporate tax advisory, GST compliance, international taxation, and representation before tax authorities.
Income Tax Services
1. ITR filing for individuals and HUF
We file income tax returns under the correct ITR form for all categories of individual taxpayers — ensuring maximum deductions are claimed and the correct tax regime is chosen.
- 1. ITR-1 (Sahaj) – Salaried individuals with income up to Rs. 50 lakh — salary, one house property, and other sources
- 2. ITR-2 – Individuals and HUF with capital gains, more than one house property, or foreign income
- 3. ITR-3 – Values based on market multiples (EV/EBITDA, P/E) of comparable listed companies. Best for profitable SMEs.
- 4. ITR-4 (Sugam) - Individuals under presumptive taxation scheme (Section 44AD, 44ADA, 44AE)
- 5. ITR-5 - Partnership firms, LLPs, AOPs, and BOIs
- 6. ITR-6 - Companies (other than those claiming Section 11 exemption)
2. New tax regime vs old tax regime — which is better for you?
From FY 2023-24, the new tax regime is the default. Many taxpayers are switching without analysing whether it actually benefits them. The right choice depends on your deductions, investments, and income structure.
- 1. Old tax regime – Higher basic tax rates but allows deductions under 80C, 80D, HRA, LTA, home loan interest, NPS, and many others. Better for taxpayers with large deductions.
- 2. New tax regime (default) – Lower slab rates but most deductions and exemptions are not allowed. Better for taxpayers with limited investments and no home loan.
- 3. Who benefits from old regime? – Taxpayers with 80C investments (Rs. 1.5L), home loan interest (Rs. 2L), NPS (Rs. 50K), health insurance (Rs. 25K+), and HRA claims.
- 4. Who benefits from new regime? - Taxpayers with minimal deductions — especially those early in their career or with no home loan.
We analyse your specific income and deduction profile and recommend the regime that saves you the most tax.
3. Capital gains tax — property, shares, and mutual funds
Capital gains is one of the most complex areas of Indian income tax — with different rates for short-term and long-term gains, exemptions under Sections 54, 54EC, and 54F, and grandfathering provisions for pre-2018 equity gains.
Property sale LTCG on residential property: 20% with indexation (or 12.5% without indexation post-July 2024). Exemption under Section 54 on reinvestment in another property within prescribed timelines.
Listed shares and equity MFs LTCG above Rs. 1.25 lakh: 12.5% (post-July 2024 budget). STCG: 20%. Section 112A grandfathering for pre-January 2018 gains.
Unlisted shares LTCG: 12.5% without indexation (post-July 2024). STCG: at applicable slab rate. Complex for ESOPs and startup equity.
We compute your capital gains correctly, claim all available exemptions, and ensure your ITR accurately reports all transactions from your broker’s Statement of Account.
3. Capital gains tax — property, shares, and mutual funds
Proactive tax planning — done at the beginning of the financial year, not in March — can significantly reduce your annual tax outgo. We review your income, investments, and structure — and recommend legal tax planning measures including:
4. Tax planning — legal ways to reduce your tax
Proactive tax planning — done at the beginning of the financial year, not in March — can significantly reduce your annual tax outgo. We review your income, investments, and structure — and recommend legal tax planning measures including:
- Section 80C investments - PPF, ELSS, life insurance, NSC, home loan principal (up to Rs. 1.5 lakh)
- Section 80D - health insurance premium deduction (up to Rs. 25,000–50,000)
- NPS contribution - additional Rs. 50,000 deduction under Section 80CCD(1B)
- HUF planning - splitting income with a Hindu Undivided Family for tax efficiency
- Home loan interest - up to Rs. 2 lakh deduction on self-occupied property under Section 24(b)
- Loss harvesting - booking losses on equity to offset capital gains
- Section 54 / 54EC reinvestment - avoiding capital gains tax through reinvestment in property or bonds
5. Advance tax planning and payment
If your total tax liability exceeds Rs. 10,000 in a year, advance tax must be paid in 4 instalments (June, September, December, March). Shortfall in advance tax attracts interest under Sections 234B and 234C. We compute your advance tax liability and remind you before each instalment deadline.
6. Income tax notice and assessment handling
Receiving an income tax notice can be stressful — but most notices are routine and can be resolved with the right response. We handle:
- Section 143(1) - intimation notices and demand resolution
- Section 143(2) - scrutiny assessment notices
- Section 148 - reopening of assessment — high-stakes situations requiring strong response
- Section 271 - penalty proceedings
- Appeals before CIT(A) - and ITAT for disputed assessments
GST Services
GST registration and returns
- 1. GST registration – for new businesses — regular and composition scheme
- 2. GSTR-1 filing – outward supply return (monthly or quarterly)
- 3. GSTR-3B filing – monthly summary return and tax payment
- 4. Valuation methodology - annual return and reconciliation statement
- 5. GSTR-2B reconciliation - matching your purchase register with GST portal data
- 6. ITC (Input Tax Credit) optimization - ensuring maximum legitimate ITC is claimed
GST notices and assessments
- 1. SCN (Show Cause Notice) reply – drafted professionally addressing each objection
- 2. GST audit – under Section 65 and 66
- 3. GST assessment – and demand resolution
- 4. GST appeals - before Appellate Authority and GST Tribunal
- 5. GST refund claims - export refunds, inverted duty structure, and excess tax payment
International and NRI Taxation
We handle end-to-end international taxation for NRIs and cross-border businesses — DTAA analysis, Form 15CA/15CB, FEMA compliance, and NRI ITR filing. Clients from the USA, Australia, Canada, UAE, and UK are handled with specific knowledge of their respective bilateral tax treaties.
- 1. NRI ITR filing – for rental income, capital gains, interest, and dividend from India
- 2. DTAA advisory – for India-USA, India-Australia, India-UAE, India-Canada, and India-UK
- 3. Form 15CA and 15C – for foreign remittances and cross-border payments
- 4. FEMA compliance - for property transactions, NRO/NRE transfers, and repatriation
- 5. GST refund claims - export refunds, inverted duty structure, and excess tax payment
International and NRI Taxation
- Document collection - salary slips, Form 16, bank statements, investment proofs,
- Regime analysis - we compute tax under both regimes and recommend the better option
- Capital gains computation - broker statement analysis, property cost indexation, exemption planning
- Deduction review - ensuring all eligible deductions under Chapter VIA are claimed
- ITR preparation - prepared and shared with you for review before filing
- Filing - ITR filed on the income tax portal with UDIN (for audited returns)
- Acknowledgement - ITR-V sent to you for your records
Important Income Tax Due Dates
- 1. July 31 – ITR filing deadline for individuals and HUF (non-audit cases)
- 2. October 31 – ITR filing deadline for businesses requiring tax audit (Section 44AB)
- 3. October 31 – Tax audit report (Form 3CA/3CB and 3CD) submission
- 4. March 15 - Final advance tax instalment for the current FY
- 5. June 15 / Sep 15 / Dec 15 / Mar 15 - Quarterly advance tax instalments (15/45/75/100% of liability)
- 6. May 31 - TDS return for Q4 (Form 26Q / 24Q)
Frequently Asked Questions
Is it mandatory to file an ITR if my income is below the taxable limit?
Filing ITR is mandatory if your income exceeds the basic exemption limit (Rs. 2.5 lakh for below 60 years, Rs. 3 lakh for 60–79 years, Rs. 5 lakh for 80+ years). However, even below these limits, filing ITR is advisable to claim TDS refunds, establish income proof for loans, and build a compliance record.
Which ITR form should I file?
The correct ITR form depends on your income sources — salary, business, profession, capital gains, or foreign income. Choosing the wrong form leads to a defective return notice. We identify and file the correct form for your specific situation.
What is the penalty for late ITR filing?
A late filing fee of Rs. 1,000 (income below Rs. 5 lakh) or Rs. 5,000 (income above Rs. 5 lakh) applies under Section 234F. Additionally, interest under Sections 234A, 234B, and 234C may apply on unpaid taxes. Loss carry-forward benefits are also forfeited on late filing.
How do I know whether the new or old tax regime saves me more tax?
This depends on your specific income and deduction profile. We compute your tax liability under both regimes and recommend the better option — for free as part of our ITR filing service.
Can you help if I received an income tax notice?
Yes — we handle all types of income tax notices including 143(1) intimations, 143(2) scrutiny notices, 148 reopening notices, and penalty proceedings. Most notices are routine and can be resolved with a proper response.
Do you file ITR for NRIs?
Yes — we handle NRI ITR filing for rental income, capital gains on property and shares, interest income, and dividend income. We also claim applicable DTAA benefits to avoid double taxation.