As the September 15 deadline for filing your Income Tax Return (ITR) for FY 2024–25 approaches, many taxpayers are asking: Do I need a Chartered Accountant (CA) or can I file my taxes myself? With new rules under the Income Tax Act 2025 and digital tools available, both options have their merits. Here’s a breakdown to help you decide.
✅ DIY Filing: When It Works
If your financial situation is straightforward, filing your ITR yourself can be quick, cost-effective, and empowering. You may not need a CA if:
- You have a single source of income (e.g., salary)
- Your deductions are simple (like 80C, 80D, standard deduction)
- You’re using the new tax regime with fewer exemptions
- You’re comfortable using the Income Tax e-filing portal
Pros of DIY Filing:
- Saves money on professional fees
- Gives you full control over your financial data
- Quick and easy with pre-filled forms and AIS integration
Cons:
- Risk of errors in choosing the wrong ITR form or missing deductions
- May overlook mismatches in Form 26AS or AIS
- Limited support if you receive a tax notice
When You Should Hire a Tax Expert
If your finances are more complex, hiring a CA or tax consultant is highly recommended. Consider professional help if:
- You have multiple income sources (salary, rent, capital gains, foreign income)
- You’ve sold property or invested in ESOPs, crypto, or foreign assets
- You’re claiming business expenses or depreciation
- You’ve received a tax notice or need to file a revised return
Pros of Hiring a CA:
- Minimizes chances of receiving a tax notice
- Ensures compliance with latest tax laws and amendments
- Helps optimize deductions and refunds
- Handles documentation and audit support if needed
Cons:
- Professional fees can range from ₹1,000 to ₹10,000 or more
- You may still need to provide detailed financial records
- Some CAs may not be updated with tech-enabled filing tools
What’s New in 2025?
- The Income Tax Act 1961 will be repealed from April 1, 2026, replaced by the Income Tax Act 2025
- Correction window for TDS/TCS statements has been reduced from 6 years to 2 years, ending March 31, 2026
- Filing of ITR-U (updated returns) is allowed for up to 4 years
- New provisions for digital assets, foreign remittances, and capital gains exemptions are now in effect
Expert Insight
Chartered Accountant Ashish Karundia notes:
“Given the reduced correction window, any mismatch in TDS or AIS must be resolved promptly. Otherwise, taxpayers may face demand notices or delayed refunds.”
📌 Final Takeaway
If your tax situation is simple, DIY filing is a great option. But if you’re juggling multiple income streams or facing compliance issues, hiring a tax expert can save you time, money, and stress.
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