Income Tax Returns

The income tax returns are used to file income tax with the Income tax department. Income Tax returns are set up in a worksheet format, where the income figures used to calculate the tax liability are written into the documents themselves. Income Tax returns must be filed every year for an individual or business that received income during the year, whether through salary, interest, dividends, capital gains, or business profits. A return of excess taxes paid during a given tax year; this is more accurately known as a “tax refund”.

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