How Business ITR Filing works
Step 1: Upload your financials
Timeline: Day 0-1
- Profit & loss, balance sheet, trial balance, and full-year bank statements.
- Ollvy CA assigned within 4 hours.
- Form 26AS (tax credit statement) pulled and cross-checked.
Milestone: Documents received, Ollvy CA assigned
Step 2: Ollvy CA reviews books and prepares computation
Timeline: Day 1-4
- Ollvy CA reviews P&L, verifies depreciation rates on every asset, checks director remuneration against Companies Act limits, and prepares income computation.
- Form 26AS cross-checked - mismatches resolved before filing.
Milestone: Draft computation shared
Step 3: You review, approve, and Ollvy CA files
Timeline: Day 4-7
- Complete draft ITR shared in app - income, deductions, and final tax number.
- You review and approve.
- Ollvy CA files within 24 hours of approval.
Milestone: ITR submitted to Income Tax portal
Step 4: ITR-V acknowledgement delivered
Timeline: Day 7-10
- Ollvy CA files within 24 hours of approval.
- ITR-V acknowledgement generated immediately and shared same day.
- Next year's deadline added to your compliance calendar.
Milestone: ITR-V delivered
Everything included in Business ITR Filing
Depreciation review - not just data entry
Ollvy CA verifies depreciation rates on every asset. Wrong rates caught before filing.
Director remuneration treatment
How director salary vs dividends is treated affects your tax bill. Ollvy CA checks compliance with Companies Act limits.
Form 26AS cross-check
Tax credits verified against Form 26AS before filing. Mismatches resolved upfront.
Without Ollvy: File without checking - get a demand notice for mismatched credits
With Ollvy: Form 26AS cross-checked before filing
Draft ITR shared before filing
Complete return shared in app - income, deductions, final tax number. You approve before anything is filed.
Without Ollvy: ITR filed, acknowledgement sent, no review
With Ollvy: Draft shared, you approve, then Ollvy CA files
ITR-V stored permanently
Filing acknowledgement uploaded to your Ollvy account immediately. Available for loans, visa, or audits.
What could go wrong with Business ITR
Late filing interest - Section 234A
- File after October 31 with tax due = 1% per month interest from the original deadline.
- On Rs. 5 lakh tax due, that's Rs. 5,000 per month of delay.
- Ollvy CA calculates exact interest before filing - no surprises.
Loss carry-forward permanently lost
- If your business made a loss and you file after October 31, you permanently lose the right to carry it forward.
- A Rs. 20 lakh loss that could save Rs. 5 lakh in tax next year - gone.
- Cannot be reversed. File on time.
Defective return notice - Section 139(9)
- Late filers are flagged for scrutiny.
- Defective return notice gives you 15 days to respond - miss it and the return is treated as never filed.
- Ollvy CA files correctly the first time.
Frequently asked questions about Business ITR Filing
When is business ITR due?
October 31 for all Pvt Ltd companies (statutory audit mandatory, so extended deadline applies). July 31 for LLPs not requiring audit. October 31 for LLPs requiring audit.
ITR-5 vs ITR-6?
ITR-6 for all companies (Pvt Ltd, Public Ltd, OPC). ITR-5 for LLPs and partnerships. Determined by entity type, not turnover. Ollvy picks the right form.
Documents needed?
Audited P&L, balance sheet, trial balance, full-year bank statements, Form 26AS, and depreciation schedule. Ollvy CA pulls Form 26AS and cross-checks.
Do I need an audit?
All Pvt Ltd companies need statutory audit regardless of turnover. LLPs above Rs. 40 lakh turnover or Rs. 25 lakh contribution. Tax audit (separate) above Rs. 1 crore turnover.
Business ITR Filing
ITR-6 for Pvt Ltd. ITR-5 for LLP. Filed before October 31. Depreciation reviewed, draft approved.
Guaranteed by 5 Jun
THE PROCESS
How Ollvy files your Business ITR
Step 1: Upload your financials
Profit & loss, balance sheet, trial balance, and full-year bank statements. Ollvy CA assigned within 4 hours. Form 26AS (tax credit statement) pulled and cross-checked.
Milestone: Documents received, Ollvy CA assigned
Step 2: Ollvy CA reviews books and prepares computation
Ollvy CA reviews P&L, verifies depreciation rates on every asset, checks director remuneration against Companies Act limits, and prepares income computation. Form 26AS cross-checked - mismatches resolved before filing.
Milestone: Draft computation shared
Step 3: You review, approve, and Ollvy CA files
Complete draft ITR shared in app - income, deductions, and final tax number. You review and approve. Ollvy CA files within 24 hours of approval.
Milestone: ITR submitted to Income Tax portal
Step 4: ITR-V acknowledgement delivered
Ollvy CA files within 24 hours of approval. ITR-V acknowledgement generated immediately and shared same day. Next year's deadline added to your compliance calendar.
Milestone: ITR-V delivered
Upload your financials
- Profit & loss, balance sheet, trial balance, and full-year bank statements.
- Ollvy CA assigned within 4 hours.
- Form 26AS (tax credit statement) pulled and cross-checked.
Documents received, Ollvy CA assigned
WHAT YOU GET
Everything included
ITR COMPUTATION
Every line item reviewed before filing
Depreciation review - not just data entry
Ollvy CA verifies depreciation rates on every asset. Wrong rates caught before filing.Director remuneration treatment
How director salary vs dividends is treated affects your tax bill. Ollvy CA checks compliance with Companies Act limits.
Form 26AS cross-check
Tax credits verified against Form 26AS before filing. Mismatches resolved upfront.Others
File without checking - get a demand notice for mismatched credits
Ollvy
Form 26AS cross-checked before filing
Draft ITR shared before filing
Complete return shared in app - income, deductions, final tax number. You approve before anything is filed.Others
ITR filed, acknowledgement sent, no review
Ollvy
Draft shared, you approve, then Ollvy CA files
ITR-V Acknowledgement
ITR-6 · AY 2025-26
Filed: 15 Oct 2025
Acknowledgement No: CPC/2025/A12345
ITR-V stored permanently
Filing acknowledgement uploaded to your Ollvy account immediately. Available for loans, visa, or audits.We file correctly.
Not just on time.
Others
Documents taken as-is. Query or rejection? Your problem.
Ollvy
Every document reviewed before filing. Mismatches and format issues caught upfront.
NEXT STEPS
What Business ITR unlocks
Services that become available or mandatory after completion.
Nothing else follows this one.
CUSTOMER REVIEWS
What customers say about Business ITR
CA found we had been calculating depreciation wrong for two years. Fixed it before filing. Draft was shared before anything was submitted.
- Manish Gupta
Reviewed the full draft, approved it, filed same day. Confirmation was on the app within hours.
- Lakshmi Narayanan
First year filing as a Pvt Ltd. Had no idea what ITR-6 even looked like. CA walked me through the draft, explained every schedule. Filed 10 days before deadline.
- Sahil Banerjee
| Document | Company (Pvt Ltd) | LLP / Partnership |
|---|---|---|
| Audited Balance Sheet | Mandatory | Mandatory if audit required - management accounts are enough otherwise |
| Audited profit & loss | Mandatory | Mandatory if audit required |
| Statutory Auditor Report | Mandatory | If audit required |
| Tax audit report | If turnover above Rs. 1 crore | If turnover above Rs. 1 crore |
| Trial balance | Required | Required |
| Bank statements (full year) | Required | Required |
| Form 26AS | Required | Required |
| Asset write-off schedule | Required | Required |
| Director or partner pay details | Required | Required - partner pay limits apply |
| Previous year return and calculation | For reference | For reference |
Your documents are encrypted, visible only to your assigned professional, and deleted 90 days after your order closes.
COMMON QUESTIONS
Frequently asked questions
Government penalties for late filing
| Penalty | Amount | Legal basis |
|---|---|---|
| Late filing fee | Rs. 10,000 (companies and audit cases) | Income Tax Act - late filing fee |
| Interest on unpaid tax | 1% per month from due date until payment | Income Tax Act - interest on late payment |
| Interest on advance tax shortfall | 1% per month on shortfall amount | Income Tax Act - advance tax shortfall (if less than 90% paid in advance) |
| Loss benefit forfeited | Permanent loss of tax benefit | Income Tax Act - loss benefit forfeited if filed late |
RELATED GUIDES
Deep-dive guides on Business ITR
Written by the same Ollvy CA team. Linked sources, updated when regulations change.
₹4,999
₹12,000
Guaranteed by 5 Jun