Tax Planning & ITR Filing
Minimize your tax liability legally with expert planning and ITR filing.
30-min Consultation
Talk to an experienced advisor about tax planning & itr filing.
Chat on WhatsAppUsually responds within minutes
What is Tax Planning & ITR Filing?
Tax planning is one of the most valuable yet frequently neglected aspects of personal finance — most salaried professionals across India's IT sector focus on saving the last ₹1.5 lakh for Section 80C investments in March, missing a whole year's worth of strategic tax reduction opportunities. Effective tax planning, done at the start of each financial year, can legally reduce your tax outgo by ₹1–3 lakh or more per year depending on your income, family situation, and investment choices. At Right Assets Management, we provide comprehensive tax planning and ITR filing services covering the full scope of the Income Tax Act. We help you optimise deductions across Sections 80C (₹1.5 lakh — ELSS, PPF, NPS, life insurance, home loan principal), 80D (health insurance premiums up to ₹25,000 for self/family, additional ₹25,000–₹50,000 for parents), 80CCD(1B) (NPS — additional ₹50,000), 24(b) (home loan interest — up to ₹2 lakh for self-occupied), HRA, LTA, and standard deduction. We also evaluate the old versus new tax regime to determine which saves you more money based on your specific investment and expenditure profile. Beyond deductions, we advise on structuring salary components, managing capital gains tax efficiently, and handling income from multiple sources — freelance, rental, or business income — alongside employment income.
Who Is This For?
- Salaried IT professionals across India wanting to legally minimise tax and file accurate ITRs on time
- Individuals with income from multiple sources — salary, freelance or consulting, rental income, and capital gains
- Business owners and self-employed professionals with complex income requiring ITR-3 or ITR-4 filing
- Individuals who have sold property or equity investments and need capital gains computation and ITR filing
- NRIs with Indian income (salary, rent, investments) needing correct NRI ITR filing with applicable exemptions
- First-time taxpayers who need guidance on the filing process, tax regime selection, and available deductions
How We Help — Step by Step
Income & Tax Situation Assessment
We assess all your income sources, investment history, property transactions, and family situation to map your complete tax picture for the financial year.
Old vs New Regime Analysis
We calculate your tax liability under both the old tax regime (with deductions) and the new tax regime (lower rates, fewer deductions) and recommend the option that results in lower tax for your specific situation.
Deduction Maximisation
We identify every applicable deduction and exemption available to you under the Income Tax Act — Section 80C, 80D, 80CCD(1B), 24(b), HRA, LTA, standard deduction, and others — and ensure you utilise each fully.
Investment Recommendations for Tax Saving
We recommend the right tax-saving investments — ELSS, PPF, NPS, health insurance — to help you fully utilise available deductions with products that also serve your broader financial goals.
Document Collection
We provide a tailored document checklist and collect all relevant documents — Form 16, bank statements, investment proofs, capital gains statements, and rental income records.
ITR Preparation & Review
We prepare your Income Tax Return, compute capital gains correctly (short-term and long-term), reconcile with Form 26AS and AIS, and review for accuracy before filing.
ITR Filing & Acknowledgement
We file your ITR on the Income Tax portal before the due date, obtain the acknowledgement (ITR-V), and guide you on e-verification. We also assist with handling income tax notices if received after filing.
Why Choose Right Assets for Tax Planning & ITR Filing?
- Legally reduce your tax liability by fully utilising all available deductions — most people leave money on the table
- Receive a personalised old vs new tax regime comparison to ensure you are on the most beneficial regime
- File accurate, timely ITRs and avoid interest, penalties, and scrutiny notices from the income tax department
- Receive expert guidance on capital gains tax — short-term vs long-term, equity vs property vs debt — to minimise tax on investments
- Handle complex ITR situations — multiple employers, freelance income, foreign income, rental income — accurately
- Stay compliant with TDS reconciliation using Form 26AS and AIS to ensure no credit is missed
- Plan proactively at the start of the financial year — not just in the last week of March — for maximum tax efficiency
Documents Required
Frequently Asked Questions
Which tax regime — old or new — is better for salaried employees across India?
It depends on your deductions and income level. The new tax regime has lower slab rates but fewer deductions. If you have significant Section 80C investments (PPF, ELSS, NPS), Section 80D health insurance premiums, a home loan interest deduction, and HRA, the old regime often saves more tax. We calculate your exact tax liability under both regimes and recommend the better option for your profile.
What is the deadline for ITR filing in India?
For salaried individuals and those not subject to audit, the ITR filing deadline is July 31 of the assessment year. For businesses and individuals requiring a tax audit, the deadline is October 31. Filing after July 31 (up to December 31) attracts a late filing fee of ₹5,000 (₹1,000 if income is below ₹5 lakh). We ensure your ITR is filed well before the deadline.
How are capital gains from equity mutual funds and stocks taxed?
Short-term capital gains (STCG) on equity and equity mutual funds held under 12 months are taxed at 20%. Long-term capital gains (LTCG) on equity and equity mutual funds held over 12 months are taxed at 12.5% on gains exceeding ₹1.25 lakh per year. Accurate computation and reporting of capital gains in the correct ITR schedule is critical — we handle this as part of our filing service.
What happens if I miss the ITR filing deadline?
Missing the July 31 deadline (for non-audit cases) means you can file a belated return up to December 31 of the assessment year, with a late filing penalty of ₹5,000 (₹1,000 if income ≤ ₹5 lakh). A belated return also forfeits the ability to carry forward most business and capital losses to offset future income. Interest under Section 234A also applies on any unpaid tax.
What is Form 26AS and why is it important?
Form 26AS is your annual tax statement from the Income Tax Department, showing all TDS deducted on your income, tax paid by you, and tax refunds received. The Annual Information Statement (AIS) additionally captures high-value transactions. We reconcile your declared income and TDS with Form 26AS and AIS before filing to ensure your ITR is accurate and consistent, reducing the risk of receiving a notice.
Book a Consultation
Talk to our advisors about Tax Planning & ITR Filing — no commitment, no sales pressure.
You May Also Need