{"id":4415,"date":"2019-04-19T16:14:54","date_gmt":"2019-04-19T10:44:54","guid":{"rendered":"https:\/\/swaritadvisors.com\/learning\/?p=4415"},"modified":"2020-07-17T14:42:05","modified_gmt":"2020-07-17T09:12:05","slug":"income-tax-return-filing-benefits-due-dates","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/learning\/income-tax-return-filing-benefits-due-dates\/","title":{"rendered":"Income Tax Return Filing, Slabs, ITR Forms, Benefits, e-Filing, Penalty"},"content":{"rendered":"\n

Income Tax Return (ITR) is no less than a nightmare to taxpayers. After all, who likes to pay tax? Possibly, nobody. But if you don’t file ITR<\/strong> in time, you would be in huge trouble.  Therefore, according to the Income Tax (IT) Act<\/strong>, 1961, every earning entity with a certain income is entitled to pay income tax to the government every year.<\/p>\n\n\n\n

Further, filing ITR<\/a><\/strong> is not only necessary because of the imposed penalty but also because it can give you refunds and several other benefits. Therefore, ITR filing<\/strong> is one of the necessities for every citizen of India.<\/p>\n\n\n\n

In this write-up, we have tried to cover up all the crucial detail regarding Income Tax and Income Tax Return<\/strong>. Thus, keep reading the blog until the end so that you don’t miss any critical aspect of ITR<\/strong>. Before we plunge on to the definition of Income Tax Returns, let us first understand what Income Tax is.<\/p>\n\n\n\n

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Table of Contents<\/p>\n