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HomeMoneyWhat are the benefits of filing ITR?, Know full details

What are the benefits of filing ITR?, Know full details

If you are unaware of the deadline for filing income tax returns, then let us tell you that the ITR deadline is very near. Despite this, if you have not filed ITR yet, then take your precious time and finish this important work. Today we are going to make you aware of the benefits of filing ITR on time because if you do not file ITR on time, it can create trouble for you on some occasions. To fill ITR, you have to visit the official website of Income Tax Department.

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First of all login to the website by visiting its official website https://www.incometax.gov.in/iec/foportal with the help of your user id and password. To file ITR, it is necessary that you have PAN card, Aadhar card and bank account number. Along with this, it is important that you have investment details and information on Form 16 or Form 26S. After this, if your annual income is more than 2.5 lakhs and even then if you do not file income tax return, then later you may have to pay a huge price as a result of penalty for this. That is why like a conscious citizen today, you must file your income tax return before 31st December.

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What are the benefits of filing ITR?

  • If you want to get a visa for developed countries, then ITR is necessary for that.
  • The most valid and acceptable income proof is ITR.
  • If you file ITR, you can also get tax refund.
  • Filing ITR also makes it easier for you to get a bank loan.
  • If you want to start a business, then ITR is also required for that.
  • If you want to cover more insurance, it is necessary that you have filed ITR.
  • Known as the most acceptable address proof.

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