The challenge
Parth, a salaried IT professional, came to us through an existing client. It was Parth's first ITR, and it wasn't a simple one.
- Shares bought and sold during the year, with no idea how the gains were taxed.
- Unsure which ITR form and which tax regime applied.
- Form 16 covered the salary, but the AIS also showed trades, interest and dividends.
- Worried a first-time mistake would lead to a notice.
What we did
Filed the ITR correctly
- Matched Form 16, the broker's capital gains report and the AIS, line by line.
- Split every share sale into short-term and long-term gains.
- Compared both regimes on Parth's numbers and chose the right ITR form.
- Walked Parth through the computation before filing.
Stayed on call all year
After filing, Parth kept us on a retainer for questions through the year:
- A tax check before selling shares: short- or long-term, and how much of the ₹1.25 lakh yearly exemption on long-term equity gains is left.
- How tax-loss harvesting works, and why losses carry forward only if the ITR is filed by the due date.
- How FD interest, bonds, ETFs and shares are each taxed.
We explain the tax side of each option. We don't recommend stocks, funds or bonds; Parth makes those choices.
The result
- First return filed on time, with salary, capital gains and other income reported.
- Parth understands every number in it.
- Tax is now a quick message before a decision, not a scramble at filing time.
Filing your ITR?
Salary plus shares, FDs or a property sale? We'll file it and explain every number.
Before and after
| Before | With Ranga & Company | |
|---|---|---|
| ITR | Unsure of form, regime and what to report | Right form and regime, filed on time |
| Share sales | Didn't know how gains were taxed | Each sale classified and taxed correctly |
| Records | Form 16 only | Form 16, broker report and AIS matched |
| During the year | Tax thought about once a year | Tax check before big decisions |
What Parth says
“Really helpful company, helped me file my complex taxes on time!!”
Shared with the client's permission. Tax figures apply to share sales from 23 July 2024. Ranga & Company is a tax consultancy, not a SEBI-registered investment adviser, and nothing here is investment advice. Every client's situation is different.