Benefits of Filing a return ..
This query is : Resolved
07 May 2010
Can anybody tell me what are the benefits of filing an Income Tax return..??
Thanking You,
Thanking You,
Rahul Gupta
(Expert)
07 May 2010
It is not relate to Benefits, rather it is mandatory as per Income Tax law to file your return if your income is above the exemption limit.
And if compliance is not made for this, you are liable to penalties and actions. So in order to avoid penalties, prosecution and other actions, it is beneficial to declare your yearly income and pay taxes accordingly.
And if compliance is not made for this, you are liable to penalties and actions. So in order to avoid penalties, prosecution and other actions, it is beneficial to declare your yearly income and pay taxes accordingly.
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08 May 2010
Filing of ITR is not to be linked with benefit.
Some person other than salaired person file thier tax return ( below tax limit) for loan purpose. In case of loan , bank demand 3 year ITR or form 16. They provided them.
Some person other than salaired person file thier tax return ( below tax limit) for loan purpose. In case of loan , bank demand 3 year ITR or form 16. They provided them.
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09 May 2010
Rather I would like to ask what are the uses of filing the return of income every year?
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