Income Tax Return (ITR) filing is the process of reporting your income, deductions, and tax payments to the government. It helps in calculating your tax liability, claiming refunds, and maintaining compliance with Indian tax laws.

The following individuals and entities must file an ITR:

Salaried Individuals: With annual income above the basic exemption limit.

Self-Employed Professionals: Freelancers, consultants, and business owners.

Companies and LLPs: Registered entities, regardless of income or loss.

Individuals with Foreign Assets: Mandatory for NRIs and residents with foreign income or assets.

Taxpayers Claiming Refunds: For those eligible for tax refunds.