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ITR Filing for Small Business for AY 2025-26

File your ITR easily and on time with help tailored for small businesses. Avoid late fees and stay compliant without the stress. Whether you’re a shop owner, freelancer, or startup, we make tax filing quick and straightforward. Start your ITR filing for small business today.

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ITR Filing for Small Business for AY 2025-26

For every small business owner, understanding the ins and outs of ITR filing for small business for AY 25-26 is crucial. The Assessment Year (AY) 2025-26 relates to the income earned during the Financial Year (FY) 2024-25 (April 1, 2024, to March 31, 2025). This year brings a few changes that small business owners should be aware of to ensure a smooth and accurate tax return.

Key Dates to Remember

The due date for filing your Income Tax Return (ITR) for AY 2025-26 has been extended for non-audit taxpayers. While it was typically July 31st, for AY 2025-26, it is now September 15, 2025. However, if your business requires an audit, the due date is October 31, 2025. It’s always best to file on time to avoid interest charges and late filing fees.

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ITR form for Small Business

The choice of ITR form depends on your business structure and income. For many small businesses, especially sole proprietorships and those operating under presumptive taxation, ITR-4 (Sugam) is often the correct form.

  • ITR-4 (Sugam): This form is for resident individuals, Hindu Undivided Families (HUFs), and firms (other than LLPs) with a total income up to ₹50 lakh. It’s specifically designed for those who opt for the presumptive taxation scheme under sections 44AD, 44ADA, or 44AE. This scheme simplifies tax computation by allowing you to declare a certain percentage of your turnover as profit, reducing the need for detailed bookkeeping.
  • ITR-3: If your small business does not fall under the presumptive taxation scheme or if your income exceeds the limits for ITR-4, you might need to file ITR-3. This form is for individuals and HUFs having income from profits and gains of business or profession and requires maintaining proper books of accounts.

Important Changes for AY 2025-26

The Income Tax Department has introduced some notable changes for this assessment year that could impact small business owners:

  1. Relaxed Eligibility for ITR-1 and ITR-4: Previously, if you had certain types of capital gains, you might have had to file more complex forms. Now, individuals and small business owners with long-term capital gains from listed equity shares and mutual funds up to ₹1.25 lakh can still use ITR-1 or ITR-4, provided there are no brought forward or carry forward losses. This is a welcome simplification for many.
  2. Aadhaar Number Mandatory: From AY 2025-26, the Aadhaar Enrolment ID will no longer be accepted for PAN applications or ITR filings. You must provide your actual Aadhaar number.
  3. Detailed Disclosure for New Tax Regime Opt-Out: If you are a business owner and want to switch from the new tax regime to the old one, you’ll need to provide more detailed disclosures in ITR-4, including past filings of Form 10-IEA and confirming your intention to continue opting out.
  4. Mandatory TDS Section Mention: If tax has been deducted at source (TDS) on your income (other than salary), you will now need to specify the exact TDS section in your ITR form to claim the tax credit.

Chose ITR filing Packages of your Choice

Basic Package

₹ 999/-
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  • ITR acknowledgment
  • Filed ITR form
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Standard Package

₹ 1499/-
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  • Balance sheet
  • Profit and Loss account
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Premium Package

₹ 1999/-
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  • Standard Package +
  • CA Attestation with UDIN
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Documents Require for ITR filing for Small Business

Gathering your documents beforehand will make your ITR filing process much smoother. For small businesses, this typically includes:

  • PAN Card and Aadhaar Card: Essential for identity verification.
  • Bank Statements: For all your business bank accounts to track income and expenses.
  • Book of Accounts (if not opting for presumptive taxation): Detailed records of your income, expenses, assets, and liabilities.
  • Invoices and Receipts: To support your business expenses and deductions.
  • TDS Certificates (Form 16A): If tax has been deducted by clients or customers.
  • Form 26AS and Annual Information Statement (AIS): These documents, available on the income tax portal, provide a summary of your tax deducted/collected at source and other financial transactions. Review them carefully to ensure all details match your records.
  • Details of Investments and Deductions: If you are claiming deductions under sections like 80C, 80D, etc., keep relevant proofs.

Why Timely ITR Filing Matters

Filing your ITR on time is not just a legal requirement; it also offers several benefits. It helps in processing loan applications, visa applications, and is crucial for carrying forward any business losses to set off against future profits. Missing the deadline can lead to penalties and interest.

ITR filing for Small Business - File Now

Simplify ITR filing for small business! Get expert help for AY 25-26. Visit Setupfiling.in or call +91 9818209246 today!

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