Income Tax Return

Income Tax Return filing for AY 2021-22: ITR filing is mandatory for individuals if their taxable income is more than Rs 250,000 per year. As per the Income Tax Rules, ITR filing is also a must for individuals who have paid more than Rs 1,00,000 in electricity bills or undertaken foreign travel for more than Rs 2 lakh during a financial year. However, experts advise that even if an individual’s income is below the taxable limit, he/she should file a tax return. As return filing comes with several benefits