• It creates a strong financial background as filing income tax return online creates financial credibility of the assessee thereby assisting him in easy fund procurement.
  • Luxury of reducing taxable income in forth coming years by the option of carrying forward losses on various heads of income.
  • If you want to claim refund then you must file income tax return!
  • No threat from the income tax department in form of scrutiny notices or search and raids.
  • Submitting income tax returns of past three years even if it is a NIL return to banks or financial institutions for smooth processing of Loans like housing, education, vehicle etc.
  • Foreign travel is possible only through VISA and VISA is possible only through submission of IT returns as one of the documents.
  • Quick registration of immovable properties in some of cities of India.
  • It is a standard proof of income of a person which establishes record with the tax department.
  • You can use the amount donated as deductions which are tax friendly, thereby reducing your taxable income.
  • You can even claim the amount of LIC premiums paid as deduction and reduce the tax liability.
  • Who knew that even tuition fees paid of children can act as a tax saving tool? Generally people are unaware that deduction of tuition fees paid for two children is available u/s 80C of the income tax act 1961.

All your income is legal and white money now, thus making you a responsible citizen and contributing in Swachh (Clean) Bharat (India) Abhiyaan (Campaign) in true sense.

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