Income Tax is not paid by many people as they have a wrong perception in their mind that filing tax return is not necessary as they have already paid the taxes to government through TDS and government is looking this as another source of earning more revenue from its citizens. New government has taken up initiative of Clean India and other such incredible campaigns which requires resources and money. Our tax money is now going for this great cause and we all should be proud of it. Your small amount of tax deduction can help the whole society to grow and move forward.

There are certain specific jobs or companies which may ask your return statement and check if you file or not for the purpose of verification. Income tax filing helps you to understand about our current financial condition and then you can plan your future financial targets further. Another benefit of filing income return is that you do not have to approach private institution or ask your family member to lend you money and so you feel more confident and get your payment processed easily.

Our government has also given the choice to file the IT return even passed the due date. A person can also avail the benefit of tax deduction from taxable income by doing good deed like donations and giving part of the income in charity or for some social cause. With income tax filing all the income earned by you comes under white money and legal. We should refrain from getting under such conditions of avoiding tax related transactions and be law abiding citizen. If you still have not filed the tax for previous year then you can still fill in today and save yourself. This will help you to live life without any worry from government official or any such body.

I hope all this information will help you to understand importance of filing income tax return and you will start or continue to pay your taxes.

I’m taking the #TaxPledge to file IT returns with the easy Income Tax efiling option from H&R Block at BlogAdda.