Market Price: ₹5748
World Legal India Price: ₹3654
Filing of annual income tax returns by individuals to declare income, claim deductions, and ensure compliance with tax laws.
Market Price: ₹5748
World Legal India Price: ₹3654
Filing of annual income tax returns by individuals to declare income, claim deductions, and ensure compliance with tax laws.
Structure for Document:
Title: Personal Tax Return Filing
Description: Short description (max 30 words)
Content: 150–200 word detailed explanation
Process Steps (optional):
Collect all income-related documents (salary slips, interest certificates, investment proofs)
Compute total taxable income and eligible deductions
Choose the correct ITR form based on income sources
File return online via the Income Tax portal and verify
Retain acknowledgment for records and audit purposes
pdf details here...
Personal tax return filing is the process through which individuals report their income, deductions, and taxes paid or payable to the Income Tax Department. This includes income from salary, business or profession, house property, capital gains, and other sources such as interest or dividends. Filing a personal tax return ensures statutory compliance under the Income Tax Act, 1961, allows individuals to claim eligible deductions under sections like 80C, 80D, 80G, and facilitates the claiming of refunds for excess taxes paid. Accurate reporting also helps in maintaining legal proof of income, carrying forward losses, and avoiding penalties or scrutiny from tax authorities. The process typically involves collecting financial documents, calculating total taxable income, selecting the appropriate ITR form (ITR-1, ITR-2, etc.), filing the return online through the Income Tax Department portal, and verifying it using Aadhaar OTP, net banking, or submitting a signed ITR-V. Professional guidance is often recommended for accurate computation, documentation, and timely submission to ensure compliance and reduce the risk of errors.