A taxpayer may want to file his income tax return for reporting his income for a financial year, carrying forward losses, claiming an income tax refund etc. An income tax return is a form which enables a taxpayer to declare his income, expenses, tax deductions, investments, taxes etc. The Income Tax Act, 1961 makes it mandatory under various scenarios for a taxpayer to file an income tax return.
The Income Tax Department provides the facility for electronic filing (e-filing) of an income tax return. Before discussing the steps involved in the e-filing of income tax return, it is essential for a taxpayer to have the necessary documents at the ready.
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