These 3 benefits will be there for ITR filing on income less than 2.5 lakhs
- Verified Record of Income: There is no such certified record of your income as your Income Tax Return. The Government of India certifies how much income you have earned in this financial year through ITR acknowledgment. This proof of income may be needed on many occasions.
- Loan application: If you are planning to take any loan, then keep in mind that banks or institutions often ask for ITR for loans. So if you have filed ITR then it can be easy for you to take a loan.
- Visa approval will be easy: If you want to go on a foreign trip, then you may need a visa. In such a situation, the visa issuing department may ask you for some proof of income of the past years. If you are planning to travel abroad in the near future, then you are advised to file ITR even on income less than Rs 2.50 lakh.
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