Choosing the right service provider

You may not have the awareness of different kinds of income that need to be reported on the ITR. You may have multiple sources of your income such as house property; capital gains from sale of old property or shares, housing loan tax benefits on twin share basis, etc. It becomes very difficult to understand your exact tax liability hence it is advisable to seek help from tax consultant.

You must choose your service provider on the basis of the complexity involved in your tax return. For preparing complex returns involving capital gains and house property income you can take assistance from experienced tax consultants.

"A taxpayer should also check other aspects like the background and experience of the service provider, fees charged, estimated time involved in preparing the return, expertise of the consultant to deal with the complexities involved in the tax return. One can even look at other services provided by the consultant such as assistance in follow up for refund, representation before the tax authorities in case of any notice, etc," adds Vineet Agarwal.