Chennai · Expert Advocates
Business Income Tax Filing in Chennai (ITR-3 / ITR-4)
Proprietorship, freelancer and small-business income tax returns — presumptive (44AD/44ADA) or normal basis.
Why Velan Law
- Filed before 31 July (no audit case)
- Maximum legal deductions claimed
- Free 1-year notice support
Proprietors, freelancers, professionals and small businesses must file either ITR-3 (regular books) or ITR-4 (presumptive taxation under section 44AD / 44ADA / 44AE). Velan Law Associates handles both — computing income, claiming all eligible deductions, paying advance tax and filing your return before the deadline.
Key Benefits
- Presumptive taxation — 6% / 8% of turnover for traders, 50% for professionals
- No audit required up to ₹2 crore (44AD) / ₹75 lakh (44ADA)
- Carry forward business losses for 8 years
- Faster loan and visa approvals with 3-year ITR record
- All TDS refunds claimed correctly
Documents Required
- PAN, Aadhaar, bank details
- Business turnover / receipts summary
- Purchase, expense and asset details
- Form 26AS and AIS / TIS
- Investment proofs (80C, 80D, 80G)
How We Work
Income Classification
Determine if presumptive (44AD/44ADA) or regular books are applicable.
Income Computation
Compute taxable income with all deductions and depreciation.
Advance Tax Planning
Quarterly advance tax planning to avoid 234B/234C interest.
ITR Filing
ITR-3 / ITR-4 filed on income tax portal.
e-Verification
Aadhaar OTP / net banking verification within 30 days.
Frequently Asked Questions
Which ITR form for a proprietorship business?
ITR-3 for regular books of account; ITR-4 (Sugam) for presumptive taxation under 44AD / 44ADA / 44AE.
What is presumptive taxation?
A simplified scheme where income is deemed at 8% (6% for digital receipts) of turnover for businesses (44AD) or 50% of receipts for professionals (44ADA). No books needed.
Is tax audit mandatory for proprietorship?
Required if turnover exceeds ₹1 crore (₹10 crore if 95% digital transactions) or under presumptive scheme if income is below the deemed rate.
What is the due date for business ITR?
31 July if no audit; 31 October if tax audit is required.
How much do you charge for business ITR filing?
Presumptive ITR-4 starts at ₹1,499. ITR-3 with books starts at ₹2,999.
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