Why should one must file Income Tax Returns.?!
Cracking the ITR Code: Why Filing Your Income Tax Returns in India Matters Taxes. The very word can send shivers down the spine of even the most organized individual. But in India, filing your Income Tax Returns (ITR) is more than just a duty – it's a smart financial move with a multitude of benefits. Whether you're a salaried employee, a freelancer, or a business owner, understanding the importance of filing your ITR can save you time, money, and a whole lot of stress. What are Income Tax Returns (ITR) Think of your ITR as a report card for your income. It details your earnings from various sources like salary, investments, and property, along with any deductions or exemptions you're entitled to claim. By filing your ITR, you inform the Income Tax Department about your financial situation and determine your tax liability for the year. Why Should You File Your ITR? – Unveiling the Benefits There's a common misconception that filing ITRs is only mandatory for those wit...