Individuals earning above ₹2.5 lakh annually, businesses, freelancers, and professionals must file an ITR.

July 31st – For individuals & businesses not requiring audit. October 31st – For companies & businesses requiring audit compliance.

Late filing attracts penalties up to ₹10,000 and interest on unpaid taxes.

Yes, you can revise your return before the end of the assessment year if errors are identified.

Yes, if their income exceeds ₹2.5 lakh annually, freelancers must file ITR and pay applicable taxes.

Visit incometax.gov.in and use the ITR Status tool.

ITR filing helps with loan approvals, tax refunds, investment verification, and visa applications.