Income Tax Return (ITR) is a form filed by individuals, firms, or companies to report their income, deductions, and tax payments to the Income Tax Department of India. It shows how much income you earned and how much tax you paid or need to pay during a financial year (1st April to 31st March).

Why File ITR?

• It is mandatory if your income exceeds the basic exemption limit
• To claim a tax refund (if excess TDS deducted)
• Required for visa processing, loan approval, and tenders
• Helps in tracking financial record and compliance

Common ITR Forms:

ITR Forms and Their Usage

Form	Used By
ITR-1	Salaried individuals (income up to ₹50 lakh)
ITR-3	Business/professional income
ITR-4	Presumptive income scheme (44AD/44ADA)
ITR-5/6/7	For firms, companies, trusts, etc.

Due Date:

• 31st July for individuals (non-audit cases)
• 31st October for audit cases
• 30th November for transfer pricing cases

Penalty for Late Filing:

• ₹1,000 to ₹5,000 depending on income level

Apply for Income Tax Return (ITR)