PRAVESH RATHI & CO. · Updated 2026-09-21
Identify the relevant period
Record the financial or tax year and entity details clearly. Do not reuse prior-year assumptions without review, particularly where legislation or forms have changed.
Reconcile financial records
Organise the trial balance, bank reconciliations, asset schedules, loans and related-party transactions. Document unresolved balances and post-year-end adjustments.
Collect tax records
Assemble earlier returns, tax payments, withholding records and relevant correspondence. Compare available tax information with books and investigate differences.
Preserve the rationale
Keep the documents supporting material transactions and positions. Share unresolved questions with the adviser before the return is finalised.
General preparation guidance only. The relevant facts and current requirements must be reviewed before taking action.
Official information
Income Tax Department provides the relevant official information portal. This article is an original preparation checklist, not an official interpretation or endorsement.