Guide on how to file ITR in India
As mandated by the Constitution of India, filing of Income Tax Return is the most important requirement for all registered taxpayers in India, ITR filing can now be done both online and offline. Taxpayers use income tax return filing to report their income, expenses, tax deductions, investments, and other financial obligations. You can file your income tax through the Income Tax Portal set up by the Government of India. In this blog, the entire process of ITR is decoded in simple steps. What is Income Tax Return (ITR)? Income Tax Return is a form that is used to file the annual income of the taxpayer with the IT office. There are many reasons for ITR Filing even if you do not have any taxable income. Taxpayers also use income tax returns to declare their taxes. After the Income Tax Act of 1961, a taxpayer is required to file an income tax return under various circumstances. To record his income for a fiscal year, carry forward losses, claim an income tax refund, claim a tax