What is ITR?

First, let us understand what filing ITR means. When you file your Income Tax Return, it is a proof that you have an income for which you have paid tax. According to the Income Tax Act, 1961, you have to …

Filing of Income Tax Return

Every individual having income exceeding rupees 5 lacs is obliged to file his ITR electronically. Likewise any ITR where any refund is claimed is to be filed electronically. However ITR having taxable income less than rupees 5 lacs may also …