What are the benefits of filing income tax returns?

rushag027 : Tue, 08/28/2018 - 12:15
Name
Priyanka

Member for

1 month 4 weeks

baidpriyanka04
Post on: Wed, 11/14/2018 - 11:31

 Unlike loans, insurances, or CC limits which have predefined benefits, few of us are aware of the benefits of filing income tax returns (ITR) regularly. Read on to know the benefits of filing ITR on a regular basis. 

  • Whether it’s for a vehicle or a house or for higher education, loans can be processed in a hassle-free manner 
  • You can easily claim refund of TDS if you file for ITR 
  • Travellers need ITR for processing most foreign visas 
  • Filing ITR helps to keep your CIBIL rating healthy 
  • ITR shows that you have a steady income, so it can act as proof of income for insurance companies, banks, etc. 
  • The ITR document can also act as address proof
  • Any business losses can be carried forward by filing ITR 
  • Government empanelment and tenders can be easily obtained

If you are still curious and wish to know more, check out this.