Income Tax Return (ITR)- Impact of Delay in filing ITRs
Individuals, HUFs, Companies, Firms, LLPs, Associations of Persons, Body of Individuals, and any other juridical person are all subject to Income Tax regulations dictating the taxes to be assessed on their taxable income. Every person who qualifies as an Indian resident must pay tax on their taxable income. Every fiscal year, tax payers must file …