Overview of Filing Income Tax Return (ITR) in India

Income Tax Return (ITR) is a form where individuals, professionals, and businesses declare their income, deductions, and taxes paid to the Government of India. Filing ITR is mandatory and beneficial, even if your income is below the taxable limit.

At M K Finlawstech, we provide expert ITR filing services to ensure accuracy, maximum savings, and 100% compliance.

✅ Who Should File an ITR?

You must file ITR if:

  • Your income exceeds ₹2.5 lakh (individual), ₹3 lakh (senior citizens), or ₹5 lakh (super senior citizens)
  • You want to claim a tax refund
  • You have foreign income or assets
  • You want to carry forward losses
  • You are a company, LLP, or partnership firm
  • You’re applying for a visa, loan, or tender

📋 Documents Required for ITR Filing

  • PAN Card & Aadhaar
  • Form 16 / Salary Slips
  • Bank statements
  • TDS Certificates (Form 16A)
  • Investment proofs (80C, 80D, etc.)
  • Capital gains details (if any)
  • Business income details (if applicable)

🧠 Benefits of Filing ITR

🧾 Legal Compliance – Avoid penalties under Section 234F and stay compliant with income tax laws.

💰 Claim Refunds – Get back excess TDS or advance tax paid.

🏦 Loan & Visa Approval – ITR is a must for applying for home loans, business loans, or foreign visas.

📈 Track Financial Growth – ITR documents help in tracking your income & net worth over the years.

🤝 Why File ITR with M K Finlawstech?

✅ Expert CA & Tax Team Support
✅ Personalized tax planning advice
✅ Filing for Salaried, Business, Freelancers & NRI
✅ Online/Offline options available
✅ GST, TDS, Advance Tax, and Audit Support

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