Your new post is loading...
It's tax season again! In India, the months of June and July highlight the yearly financial ritual in which citizens must submit their income tax returns for the preceding fiscal year by July 31st. For the fiscal year 2016-17, which runs from April 1, 2016 to March 31, 2017, the e-filing deadline for income tax returns is July 31, 2017. Filing income tax returns is a mandatory requirement for Indian nationals. Individuals with a yearly income of up to ₹2.5 lakh are exempt from tax. However, it is recommended to file reports even if your income is below the taxable threshold for compliance concerns. Tax returns are required documents when applying for loans or visas. Furthermore, e-filing is required for claims.
