It is necessary for people, NRIs, partnership companies, LLPs, Companies and Trusts to file revenue enhancement returns every year. People and NRIs are needed to file Income Tax Return, if their financial gain exceeds the exemption limit. Partnership companies are also required to file Income Tax Return, regardless of quantity of financial gain or loss. All corporations are compulsorily needed to file Income Tax Return,
Finally, it's necessary for many forms of trust to file Income Tax each year, whereas some forms of trusts are needed to file return of financial gain if its gross total financial gain exceeds the exemption limit.
Income tax return type may be e-filed or manually filed. Income Tax returns don't have the power to just accept any attachment whereas e-filing or manually filing. Hence, all relevant documents relating to the Income Tax filing like proof of investment, TDS certificates, pay slip, rent receipt, etc. should be preserved by the remunerator and may be promptly out there if requested by tax authorities throughout assessment, inquiry, etc.
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