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Income Tax helps the country to get developed. Filing an ITR keeps a record of your earnings and the tax you paid on it to the government. ITR is must be filed by each individual to overcome the losses in further years.
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This income is calculated depending on the income of the individual/ institution. Every individual earns more than the limit set by the government per year, needs to pay the income tax to the government. This file is said to be an Income tax return. Income Tax Return (ITR) – The details about the individual’s income provided to the income tax department in the form of a file.
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