10 Reasons : Why should you file ITR (Income Tax Return)
The CBDT is constantly explaining citizens why is it important to file income tax returns by conducting various drives. Yet there are citizens hesitant to file Income-Tax Return and are unaware of benefits they may procure from filing income tax returns. Most of the gen-z and millennial generation that is back bone of start up culture feel and majority of working population feel that if they fall under the tax lability / exemption bracket they need not file income tax return and can not avail the benefits associated with timely income tax return filing. So I have got 10 reasons that may make you put on your thinking caps and start thinking about filing income tax returns. Here me putting out the benefits you may have if you actually start filing your income tax returns. 1. Refund on TDS : TDS refers to tax deducted at source. The concept of TDS was introduced with an aim to collect tax from the very source of income. As per this concept, a person (deductor) who is liable to make p...