ITR Filing Benefits: The last date for filing Income Tax Return (ITR) is currently 31st July 2022.During the Corona period, the date for filing ITR was extended till December 31.The last date for filing ITR for the financial year 2021-22 i.e. assessment year 2022-23 is 31 July 2022 for individuals and salaried individuals who do not require account audit.
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Benefits of filing ITR
Benefit No. 1: It is necessary to file ITR to claim tax refund. When you file ITR, the Income Tax Department does its assessment. If a refund is made, it gets directly into the bank account.
Benefit number 2: Visa authorities of many countries ask for ITR of 3 to 5 years for visa. Through ITR, they check that the financial status of the person who wants to come to their country is.
Benefit number 3: A certificate is available on filing ITR. Whenever ITR is filed, Form 16 is filled with it, Form 16 is available from where the person is doing the job. In this way an officially certified document is obtained, which proves that the person has an annual fixed income of so much money. Having a registered proof of income helps in proving credit card, loan or own credit.
Benefit number 4: ITR is your proof of income. It is accepted by all government and private organizations as income proof. If you file ITR regularly, then you can easily get loan from the bank.
Benefit No. 5: ITR receipt is sent to your registered address, which can act as an address proof. Apart from this, it also acts as income proof for you.
Benefit number 6: If you want to start your own business then filing ITR is very important. Apart from this, to take a contract in any government department, ITR for the last 5 years has to be given.
Benefit number 7: If you want to take a term plan of Rs 1 crore, then insurance companies can ask you for ITR. In fact, they rely on ITR to know the source of your income and check its regularity.
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