What is Income Tax Return (ITR)?
ITR is a form filed with the Income Tax Department to declare your annual income, deductions, and tax liability. Filing ITR is mandatory if your income exceeds ₹2.5 lakh (₹3 lakh for senior citizens) — and essential for loan applications, visas, and financial credibility.
- Mandatory for income > ₹2.5 lakh
- Claim tax refunds on TDS
- Carry forward losses (capital, business)
- Required for home loans, credit cards & visas
Deadline: 31st July (for non-audit cases)




