TaxSavvy

TaxSavvy for belated return

Missed the date or made a mistake? Still fixable.

We file your belated or revised return and work out fee and interest.

Get it done on WhatsAppSee the deadlines and fees

If you wait: ₹5,000 fee plus 1% a month interest on tax due (Sec 428 and 423, old 234F and 234A)

How we get it done

Four steps, the same for every job. You see each one ticked.

  1. Information

    Original return acknowledgement and date. What was omitted or wrong

  2. Discussion

    Was any return filed for this year, and on what date?. What exactly went wrong: missed income, wrong deduction, wrong form, wrong regime?

  3. Forms

    Decide route: belated Sec 263(4) (old Sec 139(4)), revised Sec 263(5) (old Sec 139(5)), rectification, or updated return. Compute tax, Sec 423, 424, 425 (old Sec 234A, 234B, 234C) interest and the fee

  4. Deliverables

    Acknowledgement of belated or revised return. Fresh Sec 270(1) (old 143(1)) intimation

See what you get, free

Real formats, made with dummy data.

Questions, answered the CA way

Facts, Provisions and law, Analysis, Conclusion.

  • Schedule FA, Foreign Asset Disclosure in ITR: What, When, How
    Facts
    Every ROR (Resident Ordinarily Resident) must disclose ALL foreign assets in Schedule FA of their ITR, bank accounts, property, shares, ESOPs, signing authority. Missing even one account: Black Money Act. Penalty: ₹10L per undisclosed asset. No time limit for IT to reopen. This is the one compliance you cannot skip.
    Provisions and law
    Black Money Act 2015; Schedule FA, ITR-2/3; FATCA / CRS; Sec 263 (old 139), mandatory filing
    Analysis
    FATCA is real and it works: Indian IT department receives automatic data from USA, UK, Canada, Australia, UAE (from 2024), Singapore, and 100+ countries annually. Foreign banks report Indian customers. If you haven't disclosed: IT already knows. What must be disclosed: Any bank account where you are owner OR signing authority. ESOPs of foreign company (even unvested, even zero value). Foreign property. Shares in foreign company (even a startup equity grant worth $1). Trust as beneficiary. What details are needed: For each bank account: peak balance during year (highest balance on any single day), closing balance (March 31), interest earned, account number, SWIFT/IBAN, country. For ESOPs: company name, number of shares, acquisition date, cost, value.
    Conclusion
    • List every foreign bank account (checking, savings, FD, brokerage), include closed ones (peak balance year still needed)
    • List all foreign property: residential, commercial, land
    • List all ESOPs/RSUs from foreign company employers, even unvested
    • List signing authority in any foreign entity (director, trustee, authorized signatory)
    Read the full answer
  • ITR for HNI: what Schedule AL requires and why it matters
    Facts
    Individuals with income above ₹50L must file Schedule AL (Assets and Liabilities) in their ITR. This discloses all assets, immovable property, financial assets, jewellery, vehicles, and liabilities.
    Provisions and law
    IT Act, Sec 263 (old 139) | ITR-2/3 Schedule AL
    Analysis
    What to include: All property at cost of acquisition (not market value). Listed investments at cost. Unlisted equity at cost. Bank deposits balance as of March 31. Gold and jewellery at cost. Loans taken. Why it matters: Schedule AL is now cross-referenced with property registration data, banking data, and MCA filings. Significant discrepancies between listed assets and known transactions trigger notices. Under-reporting assets in Schedule AL is as dangerous as under-reporting income.
    Read the full answer
  • Which ITR Form to File
    Facts
    Selecting the correct ITR form is the most common source of defective return notices. Wrong form = return treated as invalid.
    Provisions and law
    Sec 263(1) (old 139(1)); Rule 164 (old Rule 12); Sec 263(7) (old 139(9)); CBDT Notif
    Analysis
    ITR-1 (Sahaj): Salary from one employer + FD interest + one house property. Income below ₹50L. Cannot have capital gains, business income, or foreign assets. ITR-2: Salary from multiple employers, capital gains (MF/shares/property), foreign income, more than one house property, director in company, unlisted shares. ITR-3: Business or profession income + any other income. Partnership firms also use ITR-3 equivalent. F&O traders must use ITR-3. ITR-4 (Sugam): Presumptive income under Sec 58, Income-tax Act 2025 (old Sec 44AD; business, ₹3Cr limit), Sec 58 (old Sec 44ADA; professionals, ₹75L limit), Sec 58 (old Sec 44AE; transport). Cannot have capital gains or foreign assets. ITR-5: Partnership firms, LLPs, AOPs, BOIs, not for individuals. ITR-6: Companies (not claiming 11/12 exemption). ITR-7: Trusts, political parties, research associations.
    Conclusion
    • Identify ALL income sources for the year, salary, FD interest, MF redemptions, property sale, freelance
    • Download AIS, check if any income shown that you did not know about
    • Check if you are director in any company or hold unlisted shares (ITR-2 mandatory if yes)
    • Check if F&O trading happened during year (ITR-3 mandatory)
    Read the full answer

Missed the date or made a mistake? Still fixable.

A Chartered Accountant handles it. Fixed price, told before you pay.

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