Tally for CAs in Industry Silver Edition (Single User) Tally Renewal (Auditor Edition) Need Tally for Clients? (Tie-up with us!!!)
Open DEMAT Account with in 24 Hrs and start investing now!
Top Headlines »
Open DEMAT Account in 24 hrs
 Notification No. 82/2021 Central Board Of Direct Taxes
 All you need to know about filing Income Tax Returns
 10 important things individual taxpayers must know before filing ITR Income Tax Return filing
 Tax filing deadline extended. That doesn t mean relief from interest penalties
 5 key things to remember while filing income tax return for FY21
 10 smart ways to save income tax for salaried employees Tax saving guide
 4 Best Tax Saving Fixed Deposits To Invest In 2021
 Notification No. 80/2021 Central Board Of Direct Taxes
  6 benefits of ITR filing even if your income is not taxable Income Tax Returns
 6 benefits of ITR filing even if your income is not taxable Income Tax Returns
 Key things to remember during income tax planning for FY 2021-22
 5 benefits of filing ITR even if your income is not taxable Income Tax Return filing
 Know how NRIs can reduce tax deducted at source while selling property in India
 Seven key things to know before filing income tax return (ITR) for FY21
 Income tax Amendment (19th Amendment), Rules, 2021

6 benefits of ITR filing even if your income is not taxable Income Tax Returns
July, 15th 2021

A person has to file Income Tax Returns (ITR) if they have a gross total income exceeding the tax exemption limit. It is not mandatory for a person to file the ITR if the gross total income does not exceed the exemption limit. If a person's income is exempted from tax, filing income tax returns may still have many advantages. Here are five advantages.

Use as address proof: The Income Tax Assessment Order can be used as an address proof. It can even be used for Aadhaar Card. Check all the valid documents here.
Get loans from banks: Banks ask for a three-year ITR while processing a loan for its customers. ITR will be a very helpful document for you if you are planning to buy a car pr a house, or looking for a personal loan.
Get visa approval: For issuing visa to an individual, most countries demand ITR among the documents. It helps if an individual is a tax-compliant citizen of the country. It also gives insight to the visa processing officials about your current financial condition and income levels.
Claim tax refund: If an individual files an ITR, they can save taxes on the income from savings instruments like term deposits and also tax can be saved on dividend income. An individual can claim the tax outgo through ITR refunds as these instruments are liable for taxes. An individual can have tax refunds and get the money back that is deducted at the source if the total gross income from different sources is above Rs 250,000. You have made investments in a manner that your net income is below Rs 250,000 in a year.
Claim losses: To claim specified losses for an individual taxpayer, filing of tax return within the due date is mandatory. This loss can be in the form of capital gains, business or profession.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2021 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting