Income Tax 2022-23

What is income tax refund? While filing an income tax return, total income from all sources is computed. This total income is termed as Gross Total Income and such income is further reduced by tax saving investments/deductions, if any, and thereafter Net taxable income is derived. Calculation of final tax is done on the Net

ITR filing applicability If your income exceeds the basic exemption limit of Rs 2,50,000 then you must compulsorily file your IT return. Even if no TDS has been deducted on the income and you are benefitted by rebate provisions still ITR filing is compulsory. ITR form selection There are various ITR forms on the income