INCOME TAX RETURN
WHY YOU SHOULD FILE YOUR ITR ON TIME
Published By Livemint
| 28 Jan, 2023
Avoid up to ₹10,000 in penalties under section 234F of the Income Tax Act
Receive your TDS refund in your bank account in a matter of months
Carry forward losses of an individual or business to subsequent years
Helps in processing of loans as it acts as proof of income
Helpful in visa processing since many foreign countries check the financial stability of travelers
Avoid last-minute rush and possibility of errors by filling the ITR on time
Could be helpful in registration of property in some states