Author: PEAK Business Consultancy Services | Category: ITR Filing Success Stories – India
Every year, millions of taxpayers in India overpay taxes simply due to lack of awareness, misreporting, or unclaimed deductions. But with the right professional guidance, you can legally and efficiently recover what’s rightfully yours.
This case study showcases how our expert team at PEAK Business Consultancy Services helped a salaried client recover a substantial ₹1.5 lakh tax refund—all by identifying missed deductions, correcting past errors, and filing a well-structured Income Tax Return (ITR).
Need help with your refund? Start your filing with us here.
Client Profile
- Name: Mr. Rohan S. (Name changed for privacy)
- Age: 35
- Profession: IT Professional
- Annual Income: ₹18.5 Lakhs
- Location: Pune, Maharashtra
- Filing Type: Individual with multiple income sources
The Challenge
Rohan had been self-filing his returns using online tools for three years. Despite a high salary and several investments, he had never received a refund and was under the impression that he was accurately reporting his taxes.
When he approached us, he had recently received a tax notice for under-reporting dividend income. That’s when he decided to outsource his ITR filing to experts.
Our Approach
Step 1: Comprehensive Income Assessment
We started by reviewing Rohan’s Form 16, Form 26AS, AIS (Annual Information Statement), and all financial records. This helped us identify income heads that were not previously declared or were incorrectly classified.
- ✔ Unreported dividend income of ₹42,000
- ✔ Capital gains from mutual fund redemptions
- ✔ Double taxation on employer’s PF contribution
Step 2: Deduction Maximization
We applied all eligible deductions and exemptions that were never claimed in earlier filings:
- ✔ Full 80C limit (LIC, ELSS, PPF) – ₹1.5 Lakh
- ✔ 80D – Medical insurance premium for self and parents – ₹50,000
- ✔ Home loan interest (Section 24) – ₹1.85 Lakh
- ✔ 80G – Donations made to registered NGOs – ₹22,000
- ✔ HRA exemption – ₹1.1 Lakh
Step 3: Correct Tax Regime Selection
We compared both old and new regimes. Though the new regime seemed easier, Rohan saved nearly ₹63,000 more under the old regime due to his eligible deductions.
Step 4: Filing Rectified and Revised Returns
Since previous years’ returns had issues, we helped Rohan file revised returns under Section 139(5) and responded to the income tax notice with proper justification and proofs.
Need help with a notice or revision? Contact our expert team here.
The Result
Rohan received a refund of ₹1,48,960 within 28 days of filing. The refund covered the past year’s excess tax payments and corrected reporting from prior filings.
Additionally:
- No penalties were imposed thanks to timely revision
- He gained full awareness of applicable deductions
- He now files with PEAK BCS every year
Client Feedback
“I thought I was doing everything right until I saw how much money I was leaving behind every year. The team at PEAK BCS was prompt, professional, and extremely knowledgeable. Thanks to them, I got ₹1.5 lakh back—legally and stress-free!” – Rohan S.
Key Takeaways
- ✅ DIY filing often leads to missed deductions and errors
- ✅ Matching with Form 26AS & AIS is critical
- ✅ Correct tax regime selection can make a huge difference
- ✅ Expert filing ensures refunds and compliance with zero stress
Why Choose PEAK Business Consultancy Services?
- ✔ Over 10,000 ITRs filed successfully
- ✔ Fast 24-hour processing turnaround
- ✔ Dedicated tax consultants for every client
- ✔ Refund tracking, notice handling, and revision support
- ✔ Affordable plans for individuals, businesses, and NRIs
Ready to maximize your refund? Click here to file your ITR with our experts today.
Need help fixing past filing mistakes or claiming your refund? Visit www.ourtaxpartner.com/filing-service/income-tax-efiling and book a free consultation today.
