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Wednesday, August 02, 2017

Who needs to file INCOME TAX returns?


By on Wednesday, August 02, 2017

Who needs to file INCOME TAX returns?

1. If your income exceeds the basic exemption limit, you are required by law to file a income tax return

2. It also becomes compulsory for those who wish to carry forward a loss or /  claim a refund

3.  If you have long-term capital gains from equities (shares), then too you need to file a return

4. Doing so will facilitate speedy processing of loans (home loans / car loans) and registration of property.

5. It is also mandatory for getting a visa


(Budget 2017 announced a fee for late filing of income tax return)

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