📊 Why Filing Your Income Tax Return (ITR) is a Game-Changer! 🌟
📊 Why Filing Your Income Tax Return (ITR) is a Game-Changer! 🌟 Ever wondered why filing an Income Tax Return (ITR) is so important? 🤔 It’s not just about paying taxes ITRs offer a range of benefits that can make a huge difference in your financial life! Here’s a quick rundown of why you should file your ITR and the perks that come with it. 🚀 🔍 What is an Income Tax Return (ITR)? An ITR is a form you use to report your income, taxes, exemptions, and deductions to the Income Tax Department. It’s essential for determining your tax liabilities and potential refunds. 💵 Who Needs to File an ITR? Income Threshold: If you earn more than ₹2.5 lakh (₹3 lakh for seniors, ₹5 lakh for super seniors) annually, you need to file. Businesses: Registered businesses must file regardless of profitability. NRIs & Foreign Assets: Those with foreign income or assets must file. High Expenses: If you spend over ₹2 lakh on international travel or paying over ₹1 lakh in electricity bills or deposit...