Complete guide to filing income tax returns for 2022

Greenvissage28 Apr, 2022Business

An Income Tax Return or ITR as many people call it is a form where the taxpayers are expected to declare their taxable income and the tax due to the government as per the income tax laws. Besides, the taxpayer is also expected to mention all the eligible deductions and tax payments if any. In India, a taxpayer has to file an Income Tax Return for a particular Financial Year i.e. April to March, irrespective of the accounting year adopted by the taxpayer. Income Tax Department has notified 7 forms i.e. Form ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7 for filing tax returns according to different types of income and types of entities. The taxpayers must file their returns before the due date applicable. In this article, we are discussing all that need to know about the income tax return filing for the financial year 2022.