Income Tax Return

Consequences of Non-Filing of the Income Tax Return

Income tax is a tax imposed by the Indian Government on income of a person. Filing of income tax is responsibility of every citizen. Filing an ITR is a way to let the government know about your income. If you do not inform the government, you have to face penalties & problems. If you are in the taxable position, then you need to file income tax returns. Individuals with income… Read More »Consequences of Non-Filing of the Income Tax Return

Benefit Of Filing The Income Tax Return

An Income Tax Return is a tax filling form, where a taxpayer reveals the details of his/her income, claims applicable deductions and exemptions and taxes that are payable on the taxable income. As a responsible citizen of India, everyone who has an income should file an ITR, because in this way we are declaring all sources of income whether taxable or non-taxable. The Income Tax Department make it essential everyone… Read More »Benefit Of Filing The Income Tax Return