A brief guide on how to file income tax return in India
Introduction Filing income tax returns (ITR) in India is not only mandatory but also essential for proper financial management. The process helps you avoid noncompliance with tax laws and assists in keeping your financial records accurate. In this article, we will discuss the need to file income tax return in India , how to do it, and why it is necessary. We will also recommend six service providers, such as National Filings, that can help you file your income tax return in India in the most efficient manner. Understanding Income Tax Return in India An Income Tax Return (ITR) is a document that is filed with the Income Tax Department to report your income, expenditures, and other related information. This form is useful in determining the amount of tax that you are required to pay, applying for a refund, or transferring losses. In India, every person who crosses a certain income limit is bound to file an ITR. Nevertheless, even those with low income may be required to file in ce...