Filing your Income Tax Return (ITR) in Bhubaneswar doesn’t have to be stressful or expensive. Whether you’re a salaried professional, a business owner, or a startup founder, timely and accurate income tax return filing in Bhubaneswar ensures compliance, avoids penalties, and unlocks tax-saving opportunities. At PS Tax Consultancy, we’ve helped over 1,000 clients save time and money through expert ITR filing and tax planning. Located at Plot: C 20, Saheed Nagar, near Odisha Hotel, Bhubaneswar – 751007, we’re the trusted affordable income tax consultant Bhubaneswar businesses and individuals rely on. In this guide, we’ll walk you through the ITR filing process, share expert tips to reduce your tax burden, and show why PS Tax Consultancy is your best partner for income tax return filing in Bhubaneswar.
Why Timely ITR Filing Matters in Bhubaneswar
Bhubaneswar is a fast-growing business hub with a vibrant mix of startups, SMEs, and corporate offices. From IT professionals in Patia to retail businesses in Saheed Nagar, everyone needs to file ITR to:
- Stay Compliant: Avoid late fees (₹5,000 for delayed filing) and legal notices.
- Claim Refunds: Get back excess TDS deducted from salary or business income.
- Build Financial Credibility: A filed ITR is required for loans, visas, and tenders.
- Carry Forward Losses: Offset future income with business losses (only if ITR is filed on time).
Our team at PS Tax Consultancy, a leading ITR consultant Bhubaneswar, ensures you file on time and maximize savings. Let’s explore how.
Step-by-Step Guide to Income Tax Return Filing in Bhubaneswar
Step 1: Determine Your ITR Form
The first step is choosing the right ITR form based on your income source:
| ITR Form | Who Should Use It |
|---|---|
| ITR-1 (Sahaj) | Salaried individuals with income up to ₹50 lakh (salary, one house property, other sources). |
| ITR-2 | Individuals/HUFs with income from capital gains, foreign assets, or more than one house. |
| ITR-3 | Professionals or business owners with presumptive taxation not applicable. |
| ITR-4 (Sugam) | Businesses/professionals opting for presumptive taxation (turnover < ₹2 crore). |
Not sure which form applies? Our affordable income tax consultant Bhubaneswar team reviews your income sources and recommends the correct form. Contact us to get started.
Step 2: Gather Required Documents
Before filing, collect:
- Form 16 (from employer)
- Form 16A (TDS on interest, contracts)
- Bank statements (for interest income)
- Investment proofs (80C, 80D, etc.)
- Capital gains statements (stocks, mutual funds, property)
- Business records (P&L, balance sheet for ITR-3/4)
PS Tax Consultancy simplifies this with a free document checklist for all clients. Call +91 94381 66091 to receive yours.
Step 3: File ITR Online via Income Tax Portal
Follow these steps:
- Visit incometaxindia.gov.in
- Log in using PAN (as User ID)
- Go to e-File > Income Tax Returns > File Income Tax Return
- Select Assessment Year (e.g., AY 2025-26), ITR form, and filing type
- Fill in income, deductions, and tax details
- Validate and e-verify using Aadhaar OTP, net banking, or DSC
Our ITR consultant Bhubaneswar handles end-to-end filing, including e-verification. Learn more.
Step 4: Claim Deductions to Save Tax
Maximize savings under these sections:
- Section 80C: Up to ₹1.5 lakh (ELSS, PPF, LIC, tuition fees)
- Section 80D: Health insurance (₹25,000/₹50,000)
- Section 24(b): Home loan interest (up to ₹2 lakh)
- Section 80G: Donations to charity
Our tax planning Bhubaneswar experts identify all eligible deductions to reduce your taxable income legally.
Step 5: Pay Advance Tax (If Applicable)
If your tax liability exceeds ₹10,000, pay advance tax in installments:
- 15% by 15th June
- 45% by 15th September
- 75% by 15th December
- 100% by 15th March
Avoid interest under Section 234B/C with timely payments. PS Tax Consultancy sends advance tax reminders to all clients.
Why Choose PS Tax Consultancy for ITR Filing in Bhubaneswar?
With over 1,000 satisfied clients and partnerships with top corporates, we’re the affordable income tax consultant Bhubaneswar you can trust. Here’s why:
| Benefit | PS Tax Consultancy Advantage |
|---|---|
| Speed | File ITR in under 48 hours |
| Accuracy | 100% error-free filing with double verification |
| Savings | Average client saves ₹18,000+ in taxes |
| Local Access | Office at Saheed Nagar, near Odisha Hotel |
| All-in-One | ITR + GST + Company Registration under one roof |
We’re not just consultants — we’re your tax partner for life.
Tax-Saving Tips for Bhubaneswar Residents
- Invest Early: Start 80C investments in April to avoid last-minute rush.
- Use HRA Wisely: Submit rent receipts if you live in rented accommodation.
- Opt for NPS: Additional ₹50,000 deduction under 80CCD(1B).
- Track Business Expenses: Claim all allowable deductions if self-employed.
- File Revised Return: Correct errors within deadline (Dec 31 of AY).
Our income tax return filing in Bhubaneswar package includes free tax planning consultation worth ₹2,000.
Common ITR Filing Mistakes to Avoid
- Wrong ITR Form: Using ITR-1 for business income leads to defective notice.
- Missing TDS Credits: Forgetting Form 16A/26AS mismatch.
- Not Reporting All Income: Bank interest, freelance income, etc.
- Late Filing: After July 31 attracts ₹5,000 penalty.
Let PS Tax Consultancy eliminate these risks with expert-reviewed filings.
FAQs About Income Tax Return Filing in Bhubaneswar
When Is the Last Date to File ITR in Bhubaneswar?
July 31 for non-audit cases. Businesses requiring audit: October 31.
Can I File ITR Myself?
Yes, but errors can lead to notices. Our ITR consultant Bhubaneswar ensures accuracy.
How Much Does ITR Filing Cost at PS Tax Consultancy?
Starts at ₹799 (salaried) and ₹2,999 (business). View pricing.
Do I Need to Visit Your Office?
No! We offer 100% online ITR filing with document pickup from Saheed Nagar, Patia, or anywhere in Bhubaneswar.
How to Check ITR Refund Status?
Log in to incometaxindia.gov.in → Services > Refund Status. We track it for you.
Contact PS Tax Consultancy Today
Save time, avoid penalties, and reduce your tax legally. As the most affordable income tax consultant Bhubaneswar, PS Tax Consultancy is just a call away:
- Address: Plot: C 20, Saheed Nagar, near Odisha Hotel, Bhubaneswar – 751007
- Phone: +91 94381 66091
- Email: info@pstaxconsultancy.com
- Website: https://pstaxconsultancy.com/
File your ITR today and join 1,000+ happy clients who trust us for income tax return filing in Bhubaneswar. Let’s make tax season stress-free!
