Income Tax – Basic Information
Income Tax is a direct tax levied by the Government of India on income earned by individuals, professionals, businesses, and other entities during a financial year.
⚠️ This page is for general information only. We are a private tax assistance service provider.
What is Income Tax?
Income Tax is a mandatory tax payable on income earned from salary, business,
profession, house property, capital gains, and other sources. The collected tax
is used by the government for public welfare and development.
Who Should File Income Tax Return (ITR)?
Individuals with taxable income
Salaried employees
Business owners & professionals
Persons claiming tax refund
Individuals with foreign assets or income
Benefits of Filing Income Tax Return
Proof of income for loans & visas
Claim income tax refund
Carry forward losses
Avoid penalties & notices
Income Tax Filing Due Date
Generally, the due date for filing Income Tax Return for individuals
(not subject to audit) is 31st July of the assessment year.
Due dates may vary as per government notifications.
Basic Documents Required
PAN Card
Aadhaar Card
Income Details / Form 16
Bank Statements
Investment Proofs (if any)
Disclaimer:
This information is provided for general awareness only. We are a private Income Tax filing assistance and consultancy service provider. We are not associated with the Income Tax Department or any Government authority.
This information is provided for general awareness only. We are a private Income Tax filing assistance and consultancy service provider. We are not associated with the Income Tax Department or any Government authority.