What you need to keep in mind when filing ITR

Make adequate disclosures

Don’t forget to claim

With the last date of filing income tax returns (ITR), 31 July, nearing, a common question these days is: “Am I required to file my ITR?” This question is most commonly raised by salaried employees, who believe that all taxes they need to pay have been deducted at source by the employer, and by senior citizens, who believe that they are now too old to be paying taxes. In most cases, the answer to this question is: “Yes, the law requires you to file your ITR.”