Income Tax Return Filing: 7 reasons you should complete your income tax return filing on time
File ITR even if you have nil income or your gross total income is below the taxable limit. The benefits of income tax return filing on time are multiple.
These are seven reasons to complete your income tax returns filings on time.
1) Income tax refund
2 ) Carry forward of losses
3) Avoid penalties
4) Processing of a loans, credit facilities and visa.
5) Legal sanction to your income
6) Financial documentation and backing
7) Avoid show cause notice for non filing of returns
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