An income tax return (ITR) is a document that you use to submit data to the income tax department regarding your earnings and taxes.
Based on the taxpayer's income, the amount of tax paid is determined.
If the return reveals that too much tax was paid in a given year, the taxpayer will be entitled to an income tax refund from the Income Tax Department.
A person or corporation that receives any income during a fiscal year is obligated by law to submit a return each year.
An individual or corporation must file their tax returns by a certain date. A taxpayer is required to pay a penalty if they miss the deadline.