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Why ITR filing is important?

ITR filing is important

ITR Filing Important   ITR filing is important for several reasons: 1. Legal Requirement: It is a legal obligation imposed by the Income Tax Act, 1961 for individuals and entities meeting certain income criteria to file their income tax returns. Failure to comply with this requirement may attract penalties and legal consequences. 2. Income Verification:… Read More »

Q142 Tax return benefits: What are the benefits of filing Income Tax Return?

Tax return benefits

Tax return benefits Website Link Tax return benefits: Filing Income Tax Return (ITR) provides several benefits, including: Avoiding Penalties: Timely filing of ITR helps you avoid penalties and interest on unpaid taxes. Carry forward of losses: If you have incurred losses from business, profession, or capital gains, filing ITR allows you to carry forward and… Read More »