FAQs: 10 key things you must know about income-tax return (ITR) filing

What are income-tax returns? Must you file them? What if you did not? What are the benefits of filing an ITR? How do you get a refund for any excess tax deducted? Find answers to all your questions

The July 31 deadline to file income-tax returns (ITR) for the 2018-19 financial year is nearing, so taxpayers are advised to file their ITR within or ahead of time to avoid any late penalties.

The ITR filing procedure can be extremely tedious and time-taking, especially for first-time filers or those earning from more than one source. There often are several questions regarding the process to file ITR. To make your job easier, we have answered a few of the most frequently asked questions (FAQs) on ITR filing.

FAQs on ITR filing

1. What is Income Tax Return (ITR)?

Income tax