The income Tax Act 1961 stated the provisions of filling return of income. Return of income tax is the predetermined format in which assesse furnishes information regarding his total income and tax payable. The format for filling of returns by different assessees is notified by CBDT. In income tax return the assesse required to furnish details of
In income tax there is deduction allowed to resident person on the basis of payment or investment made by the assesse during previous year out of saving of income earned during the year. The government to appreciation of investment or funding for the specified sector and launches various scheme for the resident which is exemption