Exclusive Benefits Of Filing Income Tax Return On Time
Are you contemplating whether you should file your tax return or not? Or have you read somewhere that you can skip filing your income tax returns if your income is below the basic exemption limit? Filing an ITR is significant and applies to everyone, be it a salaried individual, a partnership or even a HUF. As a responsible citizen, you need to file your tax returns every year. Before you decide not to file the ITR, read on to gain a profound knowledge of the filing income tax returns enlisted by the best tax accountants in Calgary . You will thank yourself later for it. Let’s get started- Easy Loan Approval In the words of reputed tax advisors , filing the ITR will help individuals when they need to apply for any vehicle loan (2-wheeler or 4- wheeler), house loans, etc. Any major bank can ask for a copy of tax returns as proof of the income statement. This is a crucial document for loan approval. For Claiming Tax Refunds There can be instances when tax has been deducted (TDS)