![]() Income Tax rules dictate that if you earn more than the limit that is exempted from being taxed by the Government, you are compulsorily required to file your tax return according to the tax slabs for each year. Is Filing ITR Compulsory for all Indians? If you have paid tax in excess during a year, the money is refunded back to you by the Income tax Department. ![]() Each taxpayer has to pay tax on the basis of the yearly income. ![]() This includes income from salary, profit in business, sale of house or property, dividend or capital gains and interest received among others. Income Tax Return simply involves a form which you utilize to enter information of your yearly earning and other details and submit to the department.
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