ADVANTAGES OF ITR OF INCOME BELOW TAXABLE INCOME?

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Mohammad Nadeem

Mohammad Nadeem (Querist)

04 August 2008 PLEASE EXPLAIN ME THE ADVANTAGES OF THE ITR FILED OF INCOME BELOW TAXABLE INCOME UNDER SEC 139(1).

CA Hemant T Dewani

CA Hemant T Dewani (Expert)

04 August 2008 if you filled your tax return before 31/07/2008 then if any change in income or investment then you will filled revised return u/s 139(5) if you want any loans from banks they required your xerox copy of income tax returns then it is eassy to you for giving itr returns

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)

04 August 2008 Sometimes, it may be possible that you have some transactions in your account involving heavy amounts, even then your income is below taxable. In that case, it is good to file an ITR, showing all particulars to avoid any future discrepancies. For loan purposes too, you eed ITR even if its below taxable.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

07 November 2021 https://www.godigit.com/income-tax/benefits-of-filing-income-tax-return-itr

https://www.zeebiz.com/personal-finance/news-income-tax-return-filing-income-not-taxable-still-file-itr-for-these-5-benefits-160562

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