1. What is the ITR?
Income Tax Return (ITR) is a form in which taxpayers file information about his or her income and taxable income from the income tax department. The department has introduced 7 different forms namely ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 & ITR 7 to date. Every taxpayer must complete his / her ITR before or before the due date. The effectiveness of the ITR forms varies depending on the taxpayer's income sources, the amount of revenue earned and the category of taxpayer such as individuals, HUF, company, etc.
Frequently Asked Questions
Why should you enter the ITR?
It is mandatory to file income tax return (ITR) in India if any of the conditions listed below apply to you:
“Krishna Gopal Varshney is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Myitronline.com. Myitronline is amongst the top emerging startups of Asia and authorized ERI by the Income Tax Department. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. ”