Tax
ITR
Also known as: Income Tax Return
The annual form you file with the tax department declaring your income and tax paid.
An ITR is the yearly statement where you tell the government what you earned and how much tax you owe or already paid.
Filing is mandatory above a certain income, and useful even below it for claiming refunds or building a financial record.
The usual deadline is 31 July for most individuals. Missing it can mean penalties and lost benefits.
For example
Even if all your tax was already cut as TDS, filing your ITR is how you claim a refund if excess was deducted.