Benefit of Filing Income Tax Return Filing

in tax •  6 years ago 

  1. Carry-forward of losses.

  2. Processing of documents: While applying for loans, the eligibility and quantum of loan would depend on one's income which can be established through filed ITRs

  3. Claiming refund: There could be a possibility that there has been tax deducted at source (TDS) on some investment made in the name of the individual. "If TDS has been cut.
    ITR.jpg

  4. Establishing income proof in compensation cases: Although, the Motor Vehicles Act does not make it compulsory to provide the ITR while arriving at compensation in case of accidental death or disability, the claims tribunal agreed procedures approved by Delhi High Court mentions the need for ITR in case of self-employed persons.

tax
6 years ago by

Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

  • Disagreement on rewards
  • Fraud or plagiarism
  • Hate speech or trolling
  • Miscategorized content or spam

Submit
$0.00
    2 votes
    0
    Authors get paid when people like you upvote their post.
    If you enjoyed what you read here, create your account today and start earning FREE STEEM!