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Why do you need to file Income Tax Return ?

  • If you need to claim refund for the tax deducted at source.
  • If you have received an intimation from the income Tax Departement seeking your return of income.
  • If you want to carry forward losses for adjustment in subsequent year/s.

Non-filling of ITR attract assessment proceeding, prosecution and penalties. Additional advantages of compliance:

  • When you want to take home loan, vehicle lone, personal loan, term insurance etc.
  • You might need it for getting visa for your travel abroad.