Why Fill Income Tax Return: Under section 139(1), every person (there are 7 types of persons in income tax) whose total income is above the exemption limit, then it is mandatory to file ITR Return.
But if we talk keeping in mind the financial literacy, then every person should file ITR even if it is less than the exemption limit, because:
- Because ITR return is a document that provides evidence of your financial position.
- Because it presents your financial status.
- Because it strengthens your CIBIL record.
- Because it gives you the identity of being a responsible citizen of the country.
- Because it helps you to take big financial decisions in the future.
- and many more…….
Rahul Agarwal
Personal Finance Expert
Partner – Single Capital Financial Services
569/4, Gol Bazar, Jabalpur (MP)
