Money Magazine - What Exactly Does Filing of Income Tax Return Mean?
The months of July, August and September in India are the busiest months for chartered accountants, such as myself, with the filing of Income Tax Returns. I have a lot of friends who, when asked, to complete their filing of income tax return, tell me that they have completed all their timely advance tax payments for the previous year in March. They say they have made advance tax payment for this quarter too also as they have completed one quarter of the next year. They are confused by this request. IS FILING OF INCOME TAX RETURN AN ADDITIONAL COMPLIANCE PUT ON TAXPAYERS BY OUR GOVERNMENT OF INDIA?