Income tax is the direct tax given to government within a financial year from our income. Income tax filing can help you in processing of different loan like car or home loan from the banks as they want to check the income tax returns first. It is also needed while applying for visa. Various private bodies and institutions often ask for IT returns document of last three years for their satisfaction and to check financial background of the firm or the person. Income tax filing has become paperless and very quick with efiling option. Income tax can be filed while browsing the net and through third party. July is the month when income tax last date is being set by the government. You must file the return on time and prevent paying fine or penalty later on. It is more accurate and secure to file returns online than filing through paper. Income tax filing is mandatory for all and there is no exception for it. You can hide the income for some time but sooner or later it will be tracked by income tax officials and you may land behind the bars for being a defaulter or having black money. It is good to pay amount as income tax than having sleepless nights worrying about the tax raids.
Filing your taxes is important as it directly effects the national development. Government working is based on budget and revenue. It is government duty to take care of the citizen and its countrymen. They should be provided with best facilities and offerings so that they can live their life in an easy way. They must get access to modern technology and have public transport access. They must be protected from terrorist and all kinds of crimes and get the right support in case of war like situation or during the time of heavy floods or disaster. This can be possible if we pay tax on time and help the government to do their job.
“I’m taking the #TaxPledge to file IT returns with the easy Income Tax efiling option from H&R Block at BlogAdda.”
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