Overview !
Income Tax Return (ITR)

Income Tax Return (ITR) is a formal statement you file with the government to report your income, expenses, and taxes paid during a financial year. It’s submitted to the Income Tax Department in your country (e.g., NBR in Bangladesh, IRS in the U.S.).

🔍 Key Points:

What It Includes:

    • Your total income (from job, business, investments, etc.)

    • Tax deductions or exemptions (like donations, insurance, etc.)

    • Taxes already paid (like advance tax or tax deducted at source—TDS)

    • Net tax liability or refund due

Who Needs to File:

      • Individuals with income above the taxable limit

      • Business owners and professionals

      • Companies and organizations

      • Even salaried people often need to file for refund or compliance

Why It’s Important:

        • It’s a legal requirement

        • Helps in getting loans, visas, or government benefits

        • You may get a tax refund if you overpaid

        • Ensures you stay compliant and avoid penalties

When to File:

          • Usually annually, after the end of the financial year

          • Bangladesh’s tax year runs July 1 to June 30, with filing typically by November 30

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