InvestorQ : What is an income tax return?
priya Shah made post

What is an income tax return?

Answer
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Pratik vyas answered.
1 year ago


Income tax return (ITR) is a tax form that is used by an Indian citizen to file income tax with the Income Tax Department. The ITR is a worksheet which has the details of the income figures that are used to calculate one’s tax liability. Thus, this ITR sheet itself can give the details of how much one needs to pay the Income Tax Department.

Different individuals, based on their income sources, have to file different ITRs with the Income Tax Department.