Income Tax Return (ITR) is a form filed by individuals or entities to report their annual income and taxes paid to the government. It includes details of earnings, deductions, and tax liabilities. Filing ITR ensures tax compliance, enables refunds, and helps in maintaining a transparent financial record.
Key features:
Income Declaration:
ITR allows individuals and entities to report the annual income from various sources such as salary, business, investments, etc.
Tax Calculation:
It determines the tax liability based on declared income, applicable deductions, and tax payments made.
Refund Eligibility:
Filing ITR allows taxpayers to claim refunds for excess taxes paid or deducted during the year.
Legal Compliance:
Regular ITR filing ensures compliance with income tax laws, helping avoid penalties and maintaining a clear financial history.
We are here to satisfy you with the desired services you want. To get help, contact us.