We have heard many a times that every individual whose total income
exceeds the maximum exemption limit is obligated to furnish his/her Income Tax Return or ITR.
But what is the benefit of filing ITR?
Standard Income Proof: ITR is considered a customary income proof not only in India but also globally. If you are looking for higher education or employment abroad, ITR is the largely accepted income proof.
Speeds your loan application process: Apart from a good credit history (or past repayment track), the fact that you are filing your ITR regularly gives you speedier access to credit and at better terms —although not necessarily a larger line of credit, but surely a better rate.