The income tax is levied on the earnings of the individual, businesses, legal entities, etc. If your total income exceeds the basic exception limit decided by the government, then you are liable to file the Income Tax Return every year. Your tax rate is not fixed, as it varies across different sectors and sections. There is a prescribed time to file the ITR for every business and individual.
If you fall under the taxation bracelet, then you would have to provide the declaration to the Income Tax Department in the form of ITR about the earnings you have made in a particular year. You can choose a company for the Income Tax Return filing in Delhi. But before filing the ITR, know its benefits.
The benefits of filing ITR
1. Faster refund process
If you file your ITR on time, then your refund will be processed earlier, than those who file the ITR later. So why file ITR late, just do it on time and stay stress free.
2. Easy visa processing
If your plans are immediate to travel abroad, then visa processing requires that you submit your tax refunds on time, especially if you are travelling to the UK, Europe, Canada and USA.
3. Easy loan processing
Life is full of uncertainties and you never know when you would require the loan. Every bank asks you to furnish your tax returns for the past few years to understand your financial situation. Having tax returns in your hand would speed up your loan processing time.
4. Avoid penalties
If you will not be filing your ITR on time, then the tax department will send you the notice to file your ITR. And if you failed to file the ITR, then the tax Department of India might penalize you. So to avoid unwanted penalties, file ITR on time.
So, these are the benefits of filing ITR on time. The end of financial year is here, so file your ITR with the help of tax professionals at Tax Home. It is a leading legal advisor that will help you to the ITR file in Nirman Vihar.
No comments:
Post a Comment