Tag Archives: #MandatoryFiling

When Income Tax filing is mandatory?

ITR file

Income Tax filing   Income Tax Filing, Income Tax Return (ITR) filing is mandatory under certain circumstances in India. The requirement to file an ITR depends on various factors, including the individual’s income level, residential status, and specific conditions outlined in the Income Tax Act, 1961. Here are some situations where ITR filing is mandatory:… Read More »

Why is the filing of income tax returns mandatory?

File income tax returns

Filing income tax returns   Filing income tax returns is mandatory for several reasons: Legal Requirement The law mandates individuals and entities to file income tax returns within the specified due dates. Failure to comply with this requirement may result in penalties and legal consequences. Income Assessment Filing tax return allows the tax authorities to… Read More »