Income Tax Returns Filling
Income Tax Returns Filling
Individuals whose taxable income exceeds the maximum amount not chargeable to tax are eligible for income tax return
It is mandatory for companies and firms to file ITR. The due date for filing the Income Tax Return is the 31st of July (after the end of each financial year for which it has to be filed).If an individual opts for the new, concessional income tax regime for FY 2021-22 (AY 2022-23), then the basic exemption limit will be Rs 2.5 lakh, irrespective of the age of the individual taxpayer. Senior citizens and super senior citizens do not get any benefit of higher exemption limit.
