Whether you have received an unexpected income tax notice, are planning a property sale and worried about capital gains, need your annual returns filed accurately, or are fighting an addition before CIT(A) — you are in the right place.
Karnani and Co. is a Chartered Accountant firm based in Jaipur with over 35 years of practice across all areas of income tax — compliance, advisory, and litigation. Our team handles everything from routine ITR filing to complex reassessment proceedings before ITAT. Every matter is handled by qualified CAs, not juniors or executives.
If you have a specific situation in mind, use the sections below to find exactly what you need.
Income Tax Return Filing
Filing an income tax return sounds straightforward until you have multiple income sources, a job change mid-year, capital gains from property or shares, rental income, foreign income, or business income alongside salary. A wrong ITR form, a missed disclosure, or an incorrect computation can result in a defective return notice or worse, a scrutiny assessment later.
We file income tax returns for salaried individuals, business owners, professionals, firms, companies, trusts, and NRIs. Before filing we review your Form 26AS, AIS, and TIS to ensure your return matches the data the department already has about you. We also check for eligible deductions under Chapter VIA that you may have missed — Section 80C, 80D, 80G, 80TTA, and others.
For business owners and professionals under presumptive taxation, we advise whether opting for Section 44AD or 44ADA is beneficial in your specific situation or whether maintaining books and claiming actual expenses gives a better outcome.
Returns are filed after your review and approval. You receive the acknowledgement and computation sheet for your records.
Who this is for: Salaried individuals, business owners, professionals, HUFs, NRIs, and companies needing accurate and timely ITR filing.
Income Tax Notices – Understanding and Responding
Receiving an income tax notice is unsettling. Most people do not know whether to respond themselves, ignore it, or immediately call their CA. The right answer depends entirely on which notice you have received and what it is asking.
The most common notices our clients bring to us are:
Section 143(1) intimation: a routine processing intimation, often with a demand or refund. Usually straightforward to address but should not be ignored if there is a demand.
Section 143(2) scrutiny notice: the department has selected your return for detailed examination. This requires careful preparation of all supporting documents and a structured response.
Section 133(6) Notice: a request for information, often received by businesses whose name appeared in a third party’s records. Needs a factual and documented reply.
Section 148A Notice: a pre-reassessment notice asking why your income for a past year should not be reassessed. This is time-sensitive and the response here determines whether a full reassessment order is issued.
Section 156 demand notice: a demand for tax, interest, or penalty. Must be verified for correctness before payment or objection.
We prepare detailed, legally supported replies with all relevant documentation. Where the department’s position is incorrect, we challenge it clearly and on record.
Do not respond to any notice without professional guidance. What you say in your response becomes part of the official record and affects all subsequent proceedings.
Who this is for: Individuals and businesses who have received any income tax notice and need a professional, documented response.
Reply to Income Tax Notice u/s 148A
Reply to Income Tax Notice u/s 250
How to Respond to an Income Tax Scrutiny Notice
Income Tax Appeals and Litigation
If your assessment order has additions you believe are incorrect — unexplained cash credits under Section 68, unexplained investments under Section 69, bogus purchases, or inflated income — you have the right to appeal before the Commissioner of Income Tax (Appeals) and subsequently before the Income Tax Appellate Tribunal.
Appeals are not just about filing a form. A strong appeal requires a well-drafted submission that addresses each addition specifically, cites relevant case law that supports your position, distinguishes adverse judgements the department may rely on, and compiles supporting documentation in a structured manner.
Our litigation team has handled appeals involving Section 68 unsecured loan additions, Section 69A cash credit additions from search cases, TDS defaults under Section 194-IA, deemed dividend additions under Section 2(22)(e), and bogus purchase disallowances. We draft submissions ground up for each matter — we do not use templates.
For matters before ITAT, we also coordinate with senior advocates where representation by an advocate is preferred or required.
If you have already lost at the AO level and received an assessment order, time is critical. The appeal before CIT(A) must be filed within 30 days of receiving the order.
Who this is for: Business owners, traders, and professionals who have received an assessment order with additions and want to challenge it before CIT(A) or ITAT.
Income Tax Appeals and Litigation
Section 68 Case Laws in Favour of Assessee
TDS Compliance and Lower TDS Certificate
Tax Deducted at Source is one of the most common areas where businesses accumulate liabilities without realising it. A missed TDS deduction, a wrong rate, a delayed deposit, or an incorrect quarterly return can result in disallowance of the expense under Section 40(a)(ia), interest under Section 201, and penalty proceedings.
We assist businesses and individuals with the following:
Monthly TDS computation covering all payment types – salary, contractor payments, rent, professional fees, property purchases, and interest.
Quarterly TDS return filing – Form 24Q for salary, Form 26Q for non-salary payments, Form 27Q for payments to non-residents.
Lower or NIL TDS certificate under Section 197 – where your total income for the year is below taxable limits or where excess TDS is being deducted on specific receipts, you can apply for a certificate directing the deductor to deduct at a lower rate or not at all. This is particularly relevant for property sellers, NRIs, and businesses receiving large contractual payments.
Correction of TDS returns where mismatches in Form 26AS are causing credit issues in the recipient’s hands.
Who this is for: Businesses with TDS deduction obligations, property sellers facing TDS deduction, and individuals or NRIs where excess TDS is being deducted on receipts.
Documents Required for Lower TDS Certificate
Capital Gains Tax — Property, Shares and Mutual Funds
The sale of any capital asset – residential or commercial property, shares, mutual funds, bonds, or gold — creates a tax liability that must be correctly computed and reported. Getting this wrong is one of the most common reasons for receiving a notice after filing.
Capital gains tax depends on how long you held the asset, what you paid for it originally, whether indexation applies, and what exemptions are available to you.
For property sales, the most commonly used exemptions are Section 54 for reinvestment in another residential property, Section 54F for reinvestment from sale of any asset other than a house, and Section 54EC for investment in specified bonds with a lock-in period. Each has specific conditions, timelines, and limits that must be met.
For shares and mutual funds, the distinction between long-term and short-term gains, the applicable tax rates, and the set-off of losses against gains requires careful computation — especially if you have traded across multiple brokers or have both listed and unlisted shares.
For NRIs selling property in India, TDS is deducted by the buyer at 20% or higher on the entire sale consideration, not on the gain. Obtaining a lower TDS certificate before the transaction closes can significantly reduce the immediate outflow and avoid a refund wait of 12 to 18 months.
We advise on the optimal reinvestment strategy before the sale transaction closes, compute capital gains accurately, and ensure the ITR reflects everything correctly.
Who this is for: Individuals and NRIs planning to sell property, those who have sold shares or mutual funds during the year, and anyone who has received a notice related to an unreported capital gain.
Capital Gains Tax Calculator
Documents Required for Lower TDS Certificate (link to /documents-required-for-lower-tds-certificate/)
NRI Taxation
NRIs have specific income tax obligations in India that differ significantly from resident taxpayers in terms of applicable rates, available deductions, TDS rules, and filing requirements.
Common situations where NRIs need professional help:
Rental income from property in India: taxable in India, TDS applies, ITR must be filed if income exceeds the basic exemption limit.
Sale of property in India: buyer deducts TDS at 20% or higher on the entire sale value. An NRI can apply for a lower TDS certificate to reduce this deduction to the actual tax on the gain.
Interest income from NRO accounts: taxable in India at 30% with TDS. Can be reduced under a DTAA if the NRI’s country of residence has a tax treaty with India.
Form 15CA and 15CB: required for most foreign remittances from India. A CA certificate in Form 15CB is needed before the bank processes the remittance.
DTAA benefits: many NRIs pay tax in their country of residence on the same income that is also taxed in India. Tax treaty benefits can reduce or eliminate this double taxation.
We assist NRIs in India and abroad with ITR filing, lower TDS certificate applications, Form 15CA and 15CB, and DTAA advisory — entirely remotely if required.
Who this is for: NRIs with property, rental income, or investments in India, and those remitting funds from India who need Form 15CA and 15CB.
Income Tax Planning
Good tax planning is not about finding loopholes. It is about making financial and business decisions with full awareness of their tax consequences before the transaction happens, not after.
The most common situations where proactive tax planning makes a significant difference:
Advance tax planning: if your total tax liability for the year exceeds Rs. 10,000, advance tax must be paid in four instalments. Missing instalments attracts interest under Sections 234B and 234C. We compute your estimated liability and advise on instalments before each due date.
Salary structuring: for business owners paying themselves or key employees, the structure of the salary package significantly affects the take-home and the TDS obligation. Allowances, reimbursements, and perquisites each have different tax treatment.
Investment planning for deductions: Section 80C has a limit of Rs. 1.5 lakh but the choice of instrument — ELSS, PPF, life insurance, home loan principal — affects liquidity, returns, and lock-in. Section 80D for health insurance, 80G for donations, and 80TTA for savings interest each have specific conditions.
Business structure decisions: whether to operate as a sole proprietor, partnership, LLP, or private limited company has significant income tax implications in terms of applicable rates, surcharge, and the ability to split income within a family.
Who this is for: Salaried individuals, business owners, and professionals who want to reduce their tax outgo legally through proactive planning before year end.
Why Clients Choose Karnani and Co.
Karnani and Co. was established in 1989 and is registered with the Institute of Chartered Accountants of India under firm registration number 020006C. The firm has four partners and a dedicated team handling income tax compliance, advisory, and litigation in Jaipur and remotely across India.
Partner-led work: your matter is reviewed and signed off by a qualified CA partner, not handled entirely by a trainee or executive.
Litigation experience: we have drafted submissions for matters before CIT(A) and ITAT across a range of addition types. We are comfortable with complex assessments, search cases, and reassessment proceedings.
Transparent communication: you are told what is happening at each stage and what to expect next. We do not leave clients wondering about the status of their matter.
Remote service capability: clients across Rajasthan and India work with us entirely over WhatsApp, email, and video call. Documents are shared digitally. You do not need to visit our Jaipur office unless you prefer to.
35 years of practice: established long enough to have seen multiple assessment cycles, litigation trends, and law changes. That experience informs how we advise on current matters.
Frequently Asked Questions
What documents do I need to file my ITR?
It depends on your income type. At minimum you need PAN, Aadhaar, Form 16 if salaried, bank statements, Form 26AS, AIS, and TIS. For capital gains you need purchase and sale documents for every asset sold. For business income you need books of accounts or a summary of receipts and expenses.
I received a notice but my previous CA filed my return. Should I still contact you?
Yes. Many clients come to us mid-notice when their existing CA is not experienced in handling that specific type of notice. We can step in at any stage, even if we did not file the original return.
How long does a CIT(A) appeal take?
Currently CIT(A) proceedings in most locations are taking 12 to 24 months from filing to order. ITAT matters take longer. We keep you informed at every hearing date.
Can you handle my matter entirely remotely?
Yes. Most of our clients outside Jaipur work with us entirely over WhatsApp and email. You share documents digitally, we prepare the submissions, and you review and approve before anything is filed.
What is the difference between Section 148 and Section 148A?
Section 148A is a pre-notice inquiry introduced from April 2021. The department must first issue a 148A notice giving you an opportunity to respond before it can issue the actual reassessment notice under Section 148. Your response to 148A is critical — a strong response at this stage can prevent the reassessment from being opened at all.
Is it too late to appeal if the assessment order was passed several months ago?
The normal time limit for filing an appeal before CIT(A) is 30 days from the date of receiving the order. However condonation of delay can be applied for with a valid reason. Contact us as soon as possible — the sooner the better.
Can you help with advance tax computation?
Yes. We compute estimated advance tax liability for individuals and businesses before each instalment due date — June 15, September 15, December 15, and March 15.
Do you also handle tax matters for trusts and HUFs?
Yes. We file returns for HUFs, trusts, and societies and advise on tax matters specific to these entities including clubbing provisions and application of trust income.
Speak With Our CA Team
For any income tax matter — whether a routine return, an urgent notice, or a pending appeal — contact us for a confidential discussion.
Phone: +91 9829063960 / +91 9829010172
WhatsApp: +91 9829010172
Email: amit@karnanica.com
Our office is in Jaipur, Rajasthan. We serve clients across India and internationally over WhatsApp, email, and video call.