Income Tax Return

An Income Tax Return (ITR) is a form used by taxpayers in India to report their income, expenses, tax deductions, and investments to the Income Tax Department. Filing ITR is mandatory for individuals and businesses that meet certain income thresholds. There are various types of ITR forms (ITR-1 to ITR-7), and choosing the correct one depends on the taxpayer's income source, category, and residential status. This guide outlines who needs to file an ITR, the documents required, filing deadlines, and step-by-step instructions on how to file ITR online through the official income tax portal. Timely and accurate filing ensures compliance and enables taxpayers to claim refunds, carry forward losses, and avoid penalties.