Top 5 common misconceptions about income tax filing

– let's bust the myths!

1. Myth: I don't need to file taxes if my income is below the taxable limit.

Truth: Even if your income falls below the taxable limit, you still need to file tax returns if any of the conditions apply.

2. Myth: I can't file tax returns without Form 16.

Truth: You can still file tax returns without Form 16 by calculating your income with other documents such as salary slips, bank statements, etc.

3. Myth: I don't need to file tax returns if taxes are already deducted from my salary.

Truth: Filing tax returns is mandatory regardless of whether taxes are deducted from your salary or not.

4. Myth: I only need to file tax returns if I have taxable income.

Truth: Even if you have no taxable income, you still need to file tax returns if you want to carry forward losses or claim refunds.

5. Myth: I don't need to file tax returns if I am an NRI.

Truth: NRIs also need to file tax returns if they have taxable