Income Tax Return ( ITR ) is a form used by taxpayers to report their income and taxes to the Income Tax Department. Filing must be done before the specified due date each year. When the time comes to file your taxes, completing your ITR form can be daunting, particularly if you have little to no knowledge of which form you need. You may wonder, “What is ITR , and why, in the world, are there so many forms?” ITR full form is Income Tax Return, which means the government has split the taxpayers into different categories depending on the source of their income, type of business, and other financial activities they conduct. What is itr : An income tax return( ITR ) is a document that you file with the government. This return informs the government about your income, investments and the tax payable. Know who should file ITR mandatorily, assessee required to compulsorily file ITR and consequences of not filing ITR . What is ITR Full Form? ITR full form is Income Tax Return. The ITR form means a form in which the taxpayer submits details about their income and taxes to the Income Tax Department (ITD). This form also allows carry forward of loss and claim refund from ITD for different status and nature of income.
