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What is an Income Tax Return The central government levies tax on your income, this is called income tax. The income from income tax is used by the government for its activities and to provide facilities and services to the public. Once a year you have to give details about income, expenses, investment, and tax liability to the government in an ITR form, it is called an income tax return (ITR). Who should file Income Tax Return (ITR) According to Section 139 (1) of the Income Tax Act, 1961, any person whose total income is taxed in the financial year (which is more than 2.5 lakh rupees for the financial year 19) shall ITR has to be filed. Any private or public company, firm, HUF (Hindu Undivided Family), AOP (Association of Individuals), body, etc. working outside India or doing business in India, to declare the total profit/loss of the year and their Are liable to pay tax. They can file all ITRs. The Income Tax Department has made it mandatory for the following individuals to file ITR...

Role of micro small and medium scale industries in the Indian economy:  MSME  Definition 2020 : Micro Small and Medium Enterprises (MSME) has been classified as per MSME Act-2016. Finance Minister Nirmala Sitharaman has taken a step towards promoting this Sector by taking steps towards reducing the economic losses from Kovid 19. Has announced to Provide 3 lakh crore loan. Due to this 45 lakh micro, small and medium industries will benefit in the Country. The Micro, Small, and Medium Enterprises (MSMEs) sector has emerged as a highly vibrant and dynamic sector in the Indian economy in the last five decades. This region saved India's economy from falling into recession during the time of economic recession. Overall, this region is playing a backbone role in the country's economy. What is the amount of MSME industries you should also know how many MSME businesses are operating in India.It is no wonder that India, with its abundant natural resources and diverse climatic changes, ...