Income Tax Return (ITR) filing is the process through which taxpayers in India formally report their income, expenses, deductions, and tax liabilities to the Income Tax Department of India annually. It serves as a crucial legal obligation for individuals and entities earning above a certain threshold, ensuring transparency and compliance with tax laws.

An ITR is a documented declaration of an individual’s or entity’s income earned during a financial year (April 1 to March 31), along with details of taxes paid or payable. It helps the government assess the correctness of the tax paid and determine if any refunds are due.

Failure to file ITR within the stipulated deadline can attract penalties, interest on due tax, and legal consequences. The Department may also initiate proceedings for non-compliance.

Filing an Income Tax Return is a fundamental civic responsibility that ensures adherence to legal obligations, promotes transparency, and provides financial security through documentation of income and taxes paid. It is advisable for taxpayers to stay updated on the latest tax laws, deadlines, and use authorized channels for smooth and timely filing.