Checklist Before Filing Business ITR

Here’s a comprehensive Checklist Before Filing Business ITR (Income Tax Return) for A.Y. 2025–26 to ensure accuracy and compliance:

✅ 1. Identify the Correct ITR Form
ITR-3: For businesses/professions not under presumptive taxation.

ITR-4 (Sugam): For presumptive income under Sections 44AD, 44ADA, 44AE.

✅ 2. Collect Basic Business and Personal Details
PAN & Aadhaar number

Nature of business code (as per ITR form instructions)

Business name, address, email ID, and phone number

Bank account details (including all business-related accounts)

✅ 3. Financial Statements
Profit & Loss Account

Balance Sheet

Trial Balance (if applicable)

Cash Flow Statement (for companies or as required)

Schedules for depreciation, assets, and liabilities

✅ 4. Tax Computation Details
Net taxable income

Deductions under Chapter VI-A (Sections 80C to 80U)

Brought forward losses or depreciation

AMT/ MAT computation (if applicable)

✅ 5. Books of Accounts and Audit Reports
Whether books of accounts are maintained (Section 44AA)

If audit is applicable:

Tax Audit Report (Form 3CA/3CB & 3CD)

Audit under other laws (e.g., GST, Companies Act)

✅ 6. Presumptive Taxation (If Opted)
Ensure business turnover/receipts are within limits:

₹2 crore for 44AD

₹50 lakh for 44ADA

Maintain bank receipts ratio if opting 6% (digital mode)

✅ 7. GST Details
GSTIN number

Monthly/Quarterly GST returns filed (GSTR-1, GSTR-3B)

Reconciliation between ITR turnover and GST turnover

✅ 8. TDS / TCS Reconciliation
Form 26AS & AIS (Annual Information Statement)

Ensure credit for all TDS deducted

Match TDS with books and report accurate figures

✅ 9. Advance Tax / Self-Assessment Tax
Check if advance tax was paid on time (if applicable)

Pay self-assessment tax before filing ITR if there is balance tax due

Keep challan receipts (Challan 280)

✅ 10. Verify Other Income
Interest income (FDs, savings)

Rental income, dividend, capital gains (if any)

Miscellaneous receipts under “Income from Other Sources”

✅ 11. Declaration and Digital Signature
Verify whether Digital Signature Certificate (DSC) is required (mandatory for companies and audit cases)

Ensure authorized representative details are correctly filled

Use EVC or DSC for verification after filing

✅ 12. Filing Deadline
Non-audit case: 31st July 2025

Audit case: 31st October 2025