What is a Return of income?

 ITR stands for the Income Tax Return. It is filed in a prescribed form. The particulars of the incomes earned by any person in a financial year and the taxes paid on such income are communicated to an Income-tax Department by filing an IT return.

ITR allows carrying forward the loss and further claim refunds from the income tax department.​ The Different forms of income returns are prescribed for filing the returns for different Status and Nature of income.

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