https://www.taxtmi.com/article/detailed?id=6414 Filing income tax returns is mandatory for individuals whose taxable salary exceeds the basic exemption threshold even if deductions reduce tax payable to zero. ITRs provide a fuller record than Form 16 and are necessary to claim refunds, to preserve the ability to carry forward capital losses, and to serve as proof of income for loans, visa applications, large insurance covers, government tenders and for self-employed taxpayers who lack employer-issued documentation. en-us Sat, 29 Aug 2015 05:53:29 +0530 Sat, 29 Aug 2015 05:53:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6414 Filing income tax returns is mandatory for individuals whose taxable salary exceeds the basic exemption threshold even if deductions reduce tax payable to zero. ITRs provide a fuller record than Form 16 and are necessary to claim refunds, to preserve the ability to carry forward capital losses, and to serve as proof of income for loans, visa applications, large insurance covers, government tenders and for self-employed taxpayers who lack employer-issued documentation. Articles Income Tax Sat, 29 Aug 2015 05:53:29 +0530 https://www.taxtmi.com/article/detailed?id=6414