Eligible for ITR file
In India, the following individuals and entities are generally eligible for filing an Income Tax Return (ITR):
1.Individuals with taxable income:
Individuals who have earned taxable income during the financial year need to file an ITR. This includes salaried individuals, self-employed individuals, professionals, and freelancers.
2.Companies and firms:
All companies and firms, including private limited companies, public limited companies, partnership firms, LLPs, etc., are required to file an ITR.
For more information visit this site: https://www.incometax.gov.in
3.Non-resident individuals and entities:
Non-resident Indians (NRIs), foreign nationals and foreign companies earning income in India or having Indian assets are also required to file an ITR.
4.Individuals with certain exemptions or deductions:
Even if an individual’s income is below the taxable limit, they may still need to file an ITR if they want to claim tax exemptions, deductions, or benefits, or if they want to carry forward losses to future years.
5.Individuals with international income:
Individuals who have earned income from foreign sources or have assets or investments outside India generally require to file an ITR.
The eligibility for filing an ITR may rely on the specific provisions of the Income Tax Act and the individual’s financial situation. It is advisable to consult a tax professional or chartered accountant to determine your specific eligibility for filing an ITR.
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