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Showing posts from November, 2022

4 Benefits of Having a NIL Income Tax Returns File

Does anyone prefer to pay tax? No doubt, most of us like to evade it to save our hard-earned money. Well, the good news is if anyone earns below the exemption limit set by the income tax department in your country, then you don’t need to pay income tax. Even, you don’t need to file an income tax return too. But, do you know that you can earn benefits by filing a nil income tax return? Yes, you heard it right. You can also contact a professional CA like Chandan Agarwal in Kolkata in this regard to acquire more information. NIL ITR File Benefits It is time to know why you should file an income tax return even if you are earning below 2.5 lakhs; below the exemption limit. 1.     Claim Tax Refund : Often, the bank deducts TDS from the FDR even if you are earning below 2.5 lakhs. In this case, you can claim for TDS deduction counting on the tax file return. 2.     Authenticate Your Income : An ITR, whether it is nil or taxable is a genuine legal document to authenticate your income. It is