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Benefits Behind Filing Your ITR

Dec 04, 2021 Alankit

Have you ever wondered why you should file an ITR or what benefits a salaried employee could inculcate from it?

Well, Income tax is the annual tax one generates against the salary earned in a financial year, and we are here to introduce you to the reasons why even if you fall or don’t fall under the category of ITR filing, you should file it, because it is not only an important document, but it inculcates various benefits:

  • Hassle-free loan processing
    Does not include mortgage but ITR filing results in proof of your income statement and henceforth is recognized by the lenders, which makes it an important and beneficial document to make the loan process hassle-free.
  • Refunds
    If your total taxable income is less than the basic exemption and you have zero tax liability for that year but the tax has been deducted from you income, then filing the ITR will help you in claiming the TDS refund.
  • Travel & Credit Applications
    When you are looking forward to apply for a credit card or planning to apply for visa then filing of ITR return is beneficial for easy and smooth working of the further process either for visa application or availing credit card.
  • Legal Proof
    Your income tax return can be your legal proof in regard to your resident and Aadhaar check. The statement is approved by every government body and removes the hindrance of presenting your legality.

The income tax filing can be rendered through various service forms:

  • E-paper form
  • E-filing
  • Bar code paper return

WithAlankit , avail these benefits and hassle-free services, so you could lessen your tax liabilities to an ample extent. So, before you begin submitting yourIncome tax returns for the financial year, make sure that you have got a complete idea about all the relevantITR services and benefits that you may avail for your tax bills.

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