why should some one file income tax return?



What is the principle behind filing income tax return? last financial year(2010-2011) i’ve worked for only 2 months and my earning was less than 1 lakh. should i file my return?
Ok guys thanks for the details. So whats Form16? is it something that we get once we file IT return?

why should some one file income tax return?
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5 Replies to “why should some one file income tax return?”



  1. because it is a government legal document
    useful in different types of necessaryy requirement
    like applying of the housing loan , car loan , personal loan
    i think passport visa application
    and most important thing is for refund of the paid income tax
    and for tax saving bebefits , tax deduction etc.


  2. If you have taxable income in any assessment year, you have to declare your income pay tax due on that. Filing Income tax returns serves the purpose that you, as a responsible person, have disclosed your income and have paid the tax due on that to the Government.in time. When your income is below taxable limit, you need not pay tax and need not file income tax return. In the case of an employee, if his income by way of salary is liable to tax, the employer is responsible for deducting tax at source and pay it to the Government onbehalf of the employee. It is called tax deducted at source. Employer who has deducted tax for an employee, should furnish him a ceriticate in Form 16, that tax has been deducted and paid to the Government on his behalf.






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