Capital Gains Tax in India

PAN, income documents for the year, and portal access or OTP / DSC for e-verification.

Yes — revised filings and notice responses can be scoped after we review the notice and prior return.

Most domestic companies opt for the concessional regime at 22% plus surcharge and cess, with a lower rate available to eligible new manufacturing companies. Which option is best depends on the deductions and carried-forward losses you would give up, so it is a decision to model once.

Firms and LLPs are taxed at a flat 30% plus surcharge and cess, with no slab benefit and no concessional company regime. Partner remuneration and interest on capital are deductible within the limits set by the Income Tax Act if the deed authorises them.

Companies file ITR-6, LLPs and firms file ITR-5, trusts and institutions file ITR-7, and proprietors report business income in their personal return. Filing on the wrong form is a common cause of defective return notices.

Tax audit is triggered by turnover crossing the prescribed limit, with a much higher limit for businesses whose receipts and payments are almost entirely digital, and a separate lower limit for professionals. It is independent of the statutory audit a company already needs.

Yes, once your estimated annual tax liability crosses the prescribed threshold, payable in quarterly instalments through the year. Underpaying attracts interest, so it is worth revisiting the estimate each quarter rather than only at year end.

Business losses can generally be carried forward for eight assessment years, and unabsorbed depreciation indefinitely, but only if the return was filed by the due date. Closely held companies also face restrictions when shareholding changes significantly, with a relaxation for eligible startups.