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A person can claim the refund of the excess tax paid/deducted during a financial year by filing an ITR for that year. Filing the ITR helps individuals when they have to apply fora vehicle loan or house loan. All major banks can ask for a copy of tax returns. Income Tax Return can be used as proof of income and address.
• Easy Loan Approval.
• Claim Tax Refund.
• Income & Address Proof.
• Quick Visa Processing.
• Carry Forward Your Losses.
• Avoid Penalty.
Income Tax Return is the form in which assessee files information about his/her Income and tax thereon to Income Tax Department. Various forms are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7. When you file a belated return, you are not allowed to carry forward certain losses.
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