Paying tax is not your only duty but even filing tax returns. I would list some benefits of filing your tax returns and why you should File your Tax Returns?
At times when employer deducts tax from salary and so many employees become lazy when it comes to Tax filing and start to think that there is no point in filing returns when they are already paying taxes. This is absolutely not true as only paying tax is not your only duty but even filing your tax returns. I would list here some benefits of filing your tax returns.
- First thing first. You are legally bound to file your tax returns.
- You may have additional tax to pay for interests you earn from bank accounts which is not handled by your employer.
- You may need to produce the returns when applying for loan.
- You may need to produce the returns when applying for Visa.
Now you can also do the e-filling at https://incometaxindiaefiling.gov.in/portal/index.do website and so you dont have to do much apart from few clicks and entering few values. It needs Java in your browser to function properly.
Good article, helpfull to novices.