Income Tax Returns (ITRs) are forms mandated by the Income Tax Department for taxpayers to file annually within the prescribed deadline. Under the Income Tax Act 1961, taxpayers can claim deductions for specified investments, allowances, and expenses to reduce their taxable income. To claim these deductions and file ITRs, individuals must submit proofs of income, investments, and expenses. Keeping these documents ready simplifies the filing process and avoids last-minute chaos.
Being well-prepared with the required documents, such as income proofs and investment details, ensures a smoother tax filing experience.
For more details, please go through - Documents required to file ITR.