
Income Tax Filing
Income Tax payment has been considered to be integral for a citizen of India and it literally means that taxation as a tool becomes an instrumental practice for the government to contribute towards the economic development of the country. The importance of Income Tax Returns and its significance is quite visible when we notice the various procurement of resources that the government does when it comes to formulating various policy schemes which are aimed towards generating revenue and to eradicate the economic disparity in the country. “Income Tax Filing or Income Tax Return (ITR) is a procedure which is used to file the income tax with the income tax department”. Most taxpayers often calculate their tax liability, schedule tax payments and also request refunds when there is an overpayment debit to the taxes.