The efficacy of aniline and carbazole‐based sensitizers used in dye‐sensitized solar cells (DSSCs) is correlated with the trends in density functional theory (DFT) based charge transfer (CT) and non‐linear optical (NLO) properties since both DSSC and NLO properties highly rely on CT properties. The aniline‐based donors showed a higher degree of planarity over carbazole‐based donor sensitizers. This improved planarity in aniline‐based sensitizers is attributed to efficient charge transfer and higher dipole moment. The efficient CT within the sensitizers is confirmed with bond‐length alternation (BLA), bond order alternation (BOA), and quinoid character (QC). A direct correlation of band‐gap (EG) with μ, ω, η, and Γ is witnessed. Time‐dependent DFT (TD‐DFT) results of vertical excitation demonstrated similar trends that are observed practically. Indeed, we observed a direct correlation between α and β and the experimentally observed DSSC efficiency. DFT and TD‐DFT methods, linear, employed for computing the CT and linear and DSSC properties as implemented in Gaussian 09. NLO properties were simulated through single‐point polar calculations. B3LYP and PBE1PBE functionals were used for geometry optimization. The linear and NLO properties were determined in various functionals, that is, global hybrid and range‐separated hybrid functionals. A polarizable continuum model (PCM) was used for solvation studies. To understand the realistic picture of the dye@TiO2 cluster, dye bound on TiO2 clusters were optimized using a LANL2DZ basis set specifically for the Ti atom.