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Introduction to Taxation – Activity

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Activity

Sujata files her income tax returns every year without fail. This year, she wants to convince her friends also to file their IT Returns like her. Which of these statements should she use to convince her friends?

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Sujata files her income tax returns every year without fail. This year, she wants to convince her friends also to file their IT Returns like her. Which of these statements should she use to convince her friends?

Just because you file IT Returns, you will not have to pay income tax. Only if your income is above a certain limit, like ₹2.5 lakh per annum, will you have to pay tax.

Even if your income is above ₹2.5 lakh per year, there are many deductions and exemptions that you can use to reduce your tax.

You should file IT Returns because it is the right thing to do. It is also a criminal offense if we are liable to pay tax and we do not pay it on time. We can be jailed by the government for tax evasion.

For major loans like Home, if a person submits ITR, they will get it easily.

Every citizen should file IT Returns and pay tax if they are liable because the government needs this money to provide basic facilities to its citizens.

All of the above.

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