guide to file your income tax

The primary incentive is that in India, you must file an ITR with the government if your income surpasses a certain level. Additionally, the usage of particular financial services and products is facilitated by the voluntary provision of proof of tax returns. Typically, you need to submit your past three years’ tax returns in order to be eligible for loans and other credit options. Additionally, since losses from the previous year cannot be demonstrated for a future exemption, having them on file through income tax return filing is advantageous. By doing this, you can reduce your tax due in the upcoming years.