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Filing Return of Income in India

Updated: May 2

Oh the pain of Filing a Tax Return in India. We’re here to make your job a little easier.

Return of Income (ROI) is an income-tax form in which assessee reports information about his income and tax thereon to the Income Tax Department. The Act provides for assessees who are required to file the ROI and same is required to be filed within prescribed due date and in prescribed manner. Requirement to file ROI and due date for filing the same is provided below:

Mandatory Return Filing Where total income exceeds the basic -exemption limit i.e. INR 2,50,000.(Exempted Long Term Capital Gains to be included while computing basic exemption limit) OR Where total income is less than the basic exemption limit but it consists of (a) Short Term Capital Gains on equity shares or units of equity oriented mutual funds or units of business trust. (b) Long Term Capital Gains chargeable to tax OR Resident and Ordinarily Resident having assets / signatory authority outside India or has beneficiary interest in any asset outside India.

Voluntary Return Filing

  • Claiming refund of tax deducted at source

  • Carry forward and set off of losses

  • To claim benefit of lower tax under Double Taxation Avoidance Agreement


Due Dates for Filing Return of Income General Due Date — 31 July of Every Year If audit is applicable — 30 September of Every Year If Transfer Pricing is applicable — 30 November of Every Year Note: The Tax Department may extend due dates for filing Return of Income


For more FAQs on the subject, refer our website. Feel free to write to us at support@thegalacticadvisors.com or post a query.

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