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Income Tax Department Notice

What is INCOME TAX RETURN ?


Salaries taxpayers who are earning more than 5 Lakhs taxable income is mandatory for E-filing of income tax
return. You will have to compulsorily file individual return if you fall in the 5-10 Lakhs tax slab.
Income Tax return is required to be documented by 30th September every year. It is required for all the
corporate assesses & non-corporate assesses (like partnership firm, Proprietorship firm, association etc.)
whose accounts are required to be audited. For all other assesses due date is 31st July each year.
It is a document that will be E-Filing; the whole process of granting refunds became easier for the
government to carry out as all transactions get stored in a central database. This way income allocation also
becomes more effective and transparent as does the development of the country.

Respond to ITR Notice

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