Filing Income Tax Returns (ITR) is mandatory for salaried individuals whose income exceeds the basic exemption limit. Proper filing ensures compliance and faster refunds.
Who Should File ITR?
- Individuals with income above ₹2.5 lakhs
- Employees with multiple Form 16
- Individuals claiming tax refunds
- Those with foreign income or assets
Choosing the Correct ITR Form
- ITR-1 (Sahaj) – Salaried individuals
- ITR-2 – Capital gains income
- ITR-3 – Business or profession
Popular Deductions
- Section 80C – Investments up to ₹1.5 lakhs
- Section 80D – Health insurance premiums
- Section 24 – Home loan interest
Timely filing of ITR not only avoids penalties but also strengthens your financial credibility.
Related Topics
#Income Tax#ITR Filing#Salaried Employees#Deductions