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Income Tax Return is the form in which assessee furnish information about his Income and tax thereon to Income Tax Department. There are various forms are, such as ITR 1, ITR 2, ITR 3, ITR 4, ITR 4S, ITR 5, ITR 6 and ITR 7. When you file a belated return, you are not allowed to carry forward certain losses
Tax deduction at source is a means of collecting tax on income, dividends or asset sales, by requiring the payer to deduct tax due before paying the balance to the payee. In India, under the Indian Income Tax Act of 1961, income tax must be deducted at source.