Income Tax Filing, Tax Planning & Dispute Resolution for Individuals & Businesses
Income Tax Consultant in Bangalore
Overview
Income tax compliance and planning are essential for every earning individual and business entity in India. Sharma Associates provides comprehensive income tax services — from timely ITR filing for salaried individuals to complex corporate tax planning, handling income tax assessments, appeals to the Commissioner and ITAT, and strategic tax advisory to minimise your tax burden legally.
Who Needs This Service?
- Salaried individuals needing ITR filing
- Self-employed professionals and consultants
- Business owners — sole proprietors and partnerships
- Private limited companies and LLPs
- HUFs (Hindu Undivided Families)
- NRIs with income in India
- Individuals and companies with IT department notices
Our Process
Income & Document Review
We review your income sources, Form 16, capital gains, investments, and deductions to compute your accurate tax liability.
Tax Planning & Optimisation
We identify legitimate deductions, exemptions, and tax-saving strategies under Sections 80C, 80D, HRA, LTA, and more.
ITR Filing & Compliance
We prepare and e-file your Income Tax Return accurately and on time, with advance tax computation if applicable.
Frequently Asked Questions
Who must file an Income Tax Return in India?
Any individual with gross total income exceeding the basic exemption limit (₹2.5 lakhs for below 60 years, ₹3 lakhs for senior citizens) must file an ITR. Additionally, persons with foreign assets, business income, or capital gains must file regardless of income level.
What are the penalties for late ITR filing?
Late filing attracts a penalty of up to ₹5,000 (₹1,000 if income is below ₹5 lakhs) under Section 234F. Additionally, you lose the ability to carry forward capital losses and may face interest on unpaid taxes.
Can you handle income tax notices and assessments?
Yes. We handle all types of income tax notices — scrutiny assessments, defective return notices, demand notices, and more. We prepare detailed responses and represent clients before the Assessing Officer.
Can you file ITR for previous years?
Updated returns (ITR-U) can be filed within 2 years from the end of the relevant assessment year, even after the due date. We can help you file for previous years with appropriate disclosures.
Do you provide tax planning advice to save on taxes legally?
Absolutely. We help clients structure their investments, compensation, and business transactions to minimise tax liability through legitimate means — including deductions under Chapter VI-A, capital gains planning, and business expense optimisation.