ITR preparation and filing
The correct ITR form, a full computation, reconciliation with Form 26AS and AIS, e-verification, and a copy of everything filed.
Income Tax Consultants in Kochi, Kerala
T K Chandy & Associates are income tax consultants in Kochi for salaried employees, business owners, professionals, investors and families. We prepare and file income tax returns, compare the old and new regimes, compute capital gains and advance tax, and handle notices, faceless assessments and appeals, under both the 1961 Act (FY 2025-26) and the new Income-tax Act, 2025.
- Led by a chartered accountant since 1994
- Member of SGA World International
- Kakkanad, Kochi
At a glance
Income tax filing and advice at a glance
- Who we help: Salaried employees, business owners, doctors and other professionals, investors, HNI families and NRIs in Kochi and across Kerala.
- Key dates: ITR-1 and ITR-2 by 31 July; non-audit business returns by 31 August; audit cases by 31 October (extended to 21 November 2026 for FY 2025-26).
- New law: The Income-tax Act, 2025 applies from 1 April 2026 and uses the tax year in place of "previous year" and "assessment year". FY 2025-26 returns are still filed under the 1961 Act.
- Our role: Regime comparison, return filing, advance tax estimates, and representation in notices, faceless assessments and appeals.
The Income Tax Department already holds your salary, interest, dividends, share and mutual fund sales and property deals in the Annual Information Statement (AIS), and its systems flag any return that does not match. A wrong form, regime or missed income line now usually brings a notice.
As income tax consultants in Kochi, the chartered accountants at T K Chandy & Associates in Kakkanad prepare returns from your actual records, reconcile them with Form 26AS and the AIS before filing, and advise on the choices that change your tax: the regime, the timing of capital gains, advance tax and the right structure for family income. We also represent clients when the department asks questions, from a simple mismatch notice to a faceless scrutiny assessment and an appeal.
2026 is a transition year. Returns for FY 2025-26 (AY 2026-27) are filed under the Income-tax Act, 1961. Income earned from 1 April 2026 falls under the Income-tax Act, 2025, where it is taxed for tax year 2026-27 and section numbers and form numbers have changed. We work under both and explain which applies to you.
Income tax services
Who Do Our Income Tax Consultants in Kochi Work With?
Each client is handled by the same team every year, so your history, carried-forward losses and past notices stay on file. We act for:
- Salaried employees at Infopark, SmartCity, banks, PSUs and the Gulf-returned workforce, including those with rental income or ESOPs
- Business owners: traders, manufacturers, contractors and shop owners, including presumptive taxation cases
- Doctors, engineers, consultants and other professionals, with or without a tax audit
- Investors and traders with share, mutual fund, F&O, property or gold gains
- HNI families: several members, companies, firms and trusts filed and planned together
- Partnership firms, LLPs, trusts and societies, and NRIs through our NRI tax services
What the engagement covers
What Do Our Income Tax Services Include?
Old vs new regime advice
Your tax calculated both ways with your actual deductions, so you pick the regime that costs less this year, and tell your employer in time.
Capital gains computation
Listed shares, mutual funds, F&O, unlisted shares, land, buildings and gold, with reinvestment exemptions and loss set-off planned.
Advance tax planning
Estimates before each instalment date, so interest for short payment does not pile up on business, rental or capital gains income.
Notices and faceless assessment
Replies to intimations, defective-return notices, scrutiny and reassessment notices on the e-filing portal, with supporting evidence.
Appeals and representation
Appeals to the Commissioner (Appeals) and the Income Tax Appellate Tribunal, stay of demand applications and rectification requests.
Family and HNI structuring
Income split across family members, HUFs, partnership firms, LLPs and private family trusts, within the clubbing and anti-avoidance rules.
Revised and updated returns
Correcting a filed return through a revised return, or declaring missed income through an updated return before the department finds it.
Refund follow-up
Tracking refunds, correcting bank account validation, and answering adjustment proposals that hold refunds back.
Slab rates for FY 2025-26 and tax year 2026-27
How Do the New and Old Tax Regimes Compare?
The new regime is the default for individuals and HUFs. The old regime must be chosen; salaried people can switch each year, but people with business income can switch only a limited number of times. Rates below are before surcharge and 4% health and education cess.
| Income slab | New regime | Old regime (below 60) |
|---|---|---|
| Up to ₹2.5 lakh | Nil | Nil |
| ₹2.5 lakh – ₹4 lakh | Nil | 5% |
| ₹4 lakh – ₹5 lakh | 5% | 5% |
| ₹5 lakh – ₹8 lakh | 5% | 20% |
| ₹8 lakh – ₹10 lakh | 10% | 20% |
| ₹10 lakh – ₹12 lakh | 10% | 30% |
| ₹12 lakh – ₹16 lakh | 15% | 30% |
| ₹16 lakh – ₹20 lakh | 20% | 30% |
| ₹20 lakh – ₹24 lakh | 25% | 30% |
| Above ₹24 lakh | 30% | 30% |
| Standard deduction (salary) | ₹75,000 | ₹50,000 |
| Rebate: no tax if taxable income is up to | ₹12 lakh | ₹5 lakh |
The new-regime rebate does not cover income taxed at special rates, such as capital gains on shares. The old regime allows deductions like 80C, 80D, HRA and home-loan interest; the new regime allows very few, so the better choice depends on your actual deductions.
Compliance calendar
What Are the Income Tax Due Dates?
Return due dates for FY 2025-26 (AY 2026-27) and advance tax dates for tax year 2026-27:
ITR-1 and ITR-2
- Due date
- 31 July
- Applies to
- Salaried, pension, house property, capital gains (no business income)
Non-audit business and professional returns
- Due date
- 31 August
- Applies to
- ITR-3 and ITR-4 cases not needing a tax audit, and trusts
Tax audit cases
- Due date
- 31 October (21 November 2026 for FY 2025-26)
- Applies to
- Businesses and professionals above the audit limit, companies
Transfer pricing cases
- Due date
- 30 November
- Applies to
- Entities filing an accountant's report on international transactions
Advance tax instalments
- Due date
- 15 June, 15 September, 15 December, 15 March
- Applies to
- 15%, 45%, 75% and 100% of the year's tax, where tax due is ₹10,000 or more
Belated and revised returns
- Due date
- 31 December / 31 March
- Applies to
- Late returns by 31 December; revised returns up to 31 March, with a fee after 31 December
Our process
How Does Income Tax Filing Work With Us?
Step01
Document collection
We send a checklist matched to your income sources. You share documents by email or in person at our Kakkanad office.
Step02
AIS and Form 26AS reconciliation
We download your AIS, TIS and Form 26AS and match every entry with your records, so nothing reported by banks or brokers is left out.
Step03
Computation and regime choice
We prepare the computation under both regimes where relevant, plan loss set-off and exemptions, and explain the result in plain terms.
Step04
Your approval and filing
You review the draft and computation. We file the return, pay any balance tax with interest, and complete e-verification.
Step05
After filing
We track processing and refunds, respond to any intimation, and set up advance tax reminders for the next tax year.
Be ready to file
What Documents Do You Need for ITR Filing?
Not every item applies to everyone. Bring what matches your income:
- PAN, Aadhaar and e-filing portal login
- Form 16 from each employer
- Bank statements and interest certificates
- Capital gains statements from brokers and mutual funds
- Property sale or purchase deeds and cost records
- Rent receipts and tenant details
- Home-loan interest and principal certificate
- Investment and insurance proofs (old regime)
- Books of account and bank statements (business)
- GST returns, if registered
- Previous year's return and computation
- Any notice or intimation received
1961 Act to 2025 Act
Which Income Tax Law Applies to Your 2026 Return?
The Income-tax Act, 2025 replaced the Income-tax Act, 1961 from 1 April 2026. The new Act drops the "previous year" and "assessment year" pair and uses a single tax year, which is the financial year in which the income is earned. Tax rates did not change with the new Act; the main changes are the section numbers, form numbers and simpler drafting.
- Income of FY 2025-26 (1 April 2025 to 31 March 2026) is assessment year 2026-27 under the 1961 Act. These returns are being filed now, under the old sections and the existing ITR forms.
- Income of FY 2026-27 is tax year 2026-27 under the 2025 Act. Its return will be filed in 2027, and advance tax for it is already due through the year.
- Capital gains rates continue: short-term gains on listed equity at 20%, long-term gains on listed equity at 12.5% above ₹1.25 lakh, and other long-term gains at 12.5%.
The Union Budget 2026 also extended the window for a revised return to twelve months from the end of the tax year, with a fee if it is filed after nine months, and widened the cases in which an updated return can be filed. Read our Union Budget 2026-27 highlights and the tax compliance calendar 2026-27.
Worked example
Example: Regime Choice for a Kakkanad IT Professional
A software engineer at Infopark earned a salary of ₹18 lakh in FY 2025-26. He had ₹1.5 lakh of 80C investments, a ₹25,000 health insurance premium and ₹2 lakh of home-loan interest, and sold equity mutual funds held for three years with a gain of ₹2 lakh.
- Old regime: taxable salary of ₹13.75 lakh after all deductions, tax of about ₹2.34 lakh including cess.
- New regime: taxable salary of ₹17.25 lakh after the ₹75,000 standard deduction, tax of about ₹1.51 lakh including cess.
- The long-term gain was taxed at 12.5% only on the ₹75,000 above the ₹1.25 lakh exemption, the same under both regimes.
- His AIS also showed savings bank interest his employer did not know about; we added it before filing.
The new regime saved him about ₹83,000 despite the home loan. We filed ITR-2 before 31 July and set up advance tax reminders, because his rental income from a flat in Thrissur starts next year.
Fees and timing
How Much Do Income Tax Consultants Charge in Kochi?
Fees depend on the number of income sources, capital gains transactions (a few mutual fund redemptions versus hundreds of trades), whether books of account must be prepared or only reviewed, business turnover and tax audit, foreign income or assets, and the effort needed to clear AIS mismatches. Notice replies and appeals are quoted separately because the work depends on the issue and the amounts involved. We quote a fixed fee in writing after a short review of your documents. A simple salaried return can be done in a few days; start business returns by June so there is time to reconcile.
Notices and assessments
What Income Tax Notices Do We Handle?
Most notices are issued and answered on the e-filing portal. The reply time in the notice is strict, so share it with us the day it arrives.
- Intimation after processing
- Check the department's adjustments against your return and file a rectification or response if the demand is wrong
- Adjustment proposal before processing
- Agree or disagree online with reasons, so the mismatch does not become a demand
- Defective return notice
- Fix the defect, usually a wrong ITR form, missing schedule or tax audit details, and refile within the time allowed
- Scrutiny / faceless assessment
- Prepare written submissions and evidence, request a video hearing where needed, and answer each show-cause notice
- Reassessment for escaped income
- Review the information relied on, object where the conditions are not met, and file the return and replies
- High-value transaction query (AIS / e-campaign)
- Explain cash deposits, property deals or investments with source documents
- Outstanding demand
- Verify the demand, seek rectification or a stay, and file an appeal where the addition is wrong
Why T K Chandy & Associates
Why Choose Our Income Tax Consultants in Kochi?
CA-led since 1994
Returns and replies are reviewed by an experienced chartered accountant before they are filed.
In Kakkanad, Kochi
Meet us at our office on the Seaport–Airport Road, or work entirely by email and phone.
Old Act and new Act
We work with the 1961 Act for FY 2025-26 and the Income-tax Act, 2025 for tax year 2026-27, and map one to the other for you.
One team for tax, GST and audit
Income tax, GST, TDS and audit handled together, so your figures agree across every return.
Cross-border support
For NRIs and families with income abroad, with associate firms in the UAE and the UK through SGA World International.
Confidential and on record
Your documents are kept securely and your history stays on file, so each year starts from where the last ended.
Related services
Which Other Tax Services Can Help You?
NRI tax services
Residential status, NRI returns, DTAA relief and property sale TDS for NRIs from Kerala.
Corporate tax
Company tax planning, regime choice, MAT and company return filing.
Tax audit
Tax audit under section 63 of the 2025 Act (section 44AB for FY 2025-26).
TDS compliance
TDS deduction, deposit, quarterly returns and TRACES corrections.
GST services
GST returns and reconciliations that match your income tax return.
Accounts outsourcing
Books kept up to date, so your return and advance tax are based on real figures.
Talk to us
Get help with your income tax return or notice
Tell us your income sources, the tax year and whether you have received a notice. We will reply with what we need and a fixed fee.
Prefer to talk now? Call +91 484 354 1530 or email [email protected].
Who prepared this page
Written and reviewed by chartered accountants at T K Chandy & Associates
This page is prepared by the audit and tax team at our Kakkanad, Kochi office and checked against the Companies Act, the Income-tax Act, GST law and ICAI standards. It is reviewed whenever the rules change.
- Last reviewed 29 October 2026
- Led by T K Chandy Vaidyan, chartered accountant since 1994
- Member of SGA World International
Have a question about your business?
Tell us your entity type, what you need and any deadline. A chartered accountant will reply.
Ask an expertFrequently asked questions
Income tax consultants in Kochi – frequently asked questions
Short answers to the questions clients in Kochi ask us most. Still unsure?
Talk to our team01.Which tax regime is better for me, old or new?
It depends on your deductions. With the ₹12 lakh rebate and the ₹75,000 standard deduction, the new regime is cheaper for most salaried people. The old regime can still win if you claim large deductions such as home-loan interest, HRA, 80C and 80D together. We calculate both before you file.
02.Is income up to ₹12 lakh tax-free under the new regime?
Yes, for normal income. A resident individual with taxable income up to ₹12 lakh pays no tax because of the rebate, and a salaried person effectively up to ₹12.75 lakh after the standard deduction. The rebate does not cover income taxed at special rates, such as capital gains on shares.
03.What is the last date to file ITR for FY 2025-26?
31 July 2026 for ITR-1 and ITR-2, 31 August for business and professional returns without a tax audit, and 31 October for audit cases, which the CBDT extended to 21 November 2026. A belated return can be filed until 31 December 2026, with a late fee.
04.What is a tax year under the new Income-tax Act?
Under the Income-tax Act, 2025, the tax year is the financial year in which you earn the income. It replaces the old previous year and assessment year pair. Income earned from 1 April 2026 to 31 March 2027 is tax year 2026-27.
05.Do I file my 2026 return under the old Act or the new Act?
Returns for FY 2025-26 (AY 2026-27), filed in 2026, are under the Income-tax Act, 1961. Income from 1 April 2026 falls under the 2025 Act and its return will be filed in 2027.
06.Who has to pay advance tax?
Anyone whose tax for the year, after TDS, is ₹10,000 or more. It is paid in four instalments by 15 June, 15 September, 15 December and 15 March. Resident senior citizens without business income are exempt, and presumptive taxpayers can pay the whole amount by 15 March.
07.How is capital gains on shares and mutual funds taxed now?
Short-term gains on listed equity shares and equity funds are taxed at 20%. Long-term gains are taxed at 12.5% on the amount above ₹1.25 lakh a year. Other long-term gains, such as on land or buildings, are taxed at 12.5%.
08.Can I save tax on the sale of a house or land?
Yes, by reinvesting the long-term gain in another residential house or in specified bonds within the time limits, subject to the conditions and caps. For property bought before 23 July 2024, resident individuals and HUFs can also compare tax at 20% with indexation against 12.5% without it.
09.I received an income tax notice. What should I do?
Read the section and the reply date, log in to the e-filing portal to see the full notice, and do not ignore it. Send it to us with your return and computation for that year; most mismatch notices can be closed with a clear reply and documents.
10.What is faceless assessment?
Scrutiny assessments are conducted online through the e-filing portal, without meeting the officer in person. Notices and replies are exchanged electronically, and you can request a video conference hearing in certain cases. We prepare and file the submissions for you.
11.How long do I have to appeal against an assessment order?
The first appeal to the Commissioner (Appeals) is generally due within 30 days of receiving the order or demand. A further appeal to the Income Tax Appellate Tribunal is due within two months from the end of the month in which the order is received. Late appeals need a condonation request with reasons.
12.Can I correct a mistake after filing my return?
Yes. File a revised return, now allowed up to twelve months from the end of the tax year, with a fee if filed after nine months. If the window has passed, an updated return can be filed within 48 months on payment of additional tax.
13.Can a partnership firm, LLP or family trust reduce my family's tax?
It can, when it reflects real business and family arrangements. Income can be shared among family members who contribute capital or work, but clubbing rules and anti-avoidance provisions apply. We review your situation before recommending any structure.
References:Income Tax Department · Income Tax e-Filing portal · Union Budget 2026-27 – Memorandum (Finance Bill 2026) · Income-tax Act 2025 (India Code) — reviewed 29 October 2026