Sunday, 16 June 2013

10 reasons for filing your Tax Returns on time

Tax as a part of retirement and financial planning is an important aspect of life, as the saying goes that only thing that is certain in one's life is death and taxes.
 
  • As we may be occupied and overwhelmed by other priorities,  tax planning activity is in the back seat and we wait till last minute.
  • In this rush of hours, we lose sight of effective tax planning.
     
  • Approaching Expert advisor or chartered account in the last minute,  limits the scope of effective tax planning and creates unnecessary  tension.
  • To be successful in getting timely tax refunds, it is necessary to present all the data on various incomes, expenditures and investments  and file your Income-Tax (I-T) returns on time.
     
  • Filing I-T returns is  both legal and moral responsibility and offers dignity of consciously contributing to the development of the nation. 
  • I-T returns substantiate your credit worthiness in order to access many financial benefits such as bank credits etc.from financial institutions.