Income tax return (ITR) is simply a statement/document, in which a person declares the information about his income and the tax liability thereon, for a particular year, to the tax authorities and it is advisable that one should furnish correct and complete particulars in the Income-Tax return. Every individual whose total income before allowing the deductions and exemptions exceeds the basic limit under the Income Tax Provision are required to file their return of income/ income tax returns. The return should be furnished in the prescribed form on or before the due date(s). Moreover, even if where an assessee is not required to compulsorily file their return of income, can file their return of income and also maintain their Income Tax file (Statements of assets and liabilities or Balance Sheet), as the same has many benefits. Income Tax Returns can be filed either electronically, i.e. online returns, or manually with the officer of the income tax department under whose jurisdiction one falls. The Income Tax Department has notified various forms for filing income tax returns by different types of persons having income under various heads. Two simpler income tax return forms has been introduced by the Income Tax department which will be used by the Individual from the assessment year 2011-12 (Financial year 2010-11). Two newly introduced income tax return forms are namely ITR 1 (SAHAJ) for salaried individuals and ITR 4S (SUGAM) for small business taxpayers whose income is computed in accordance with section 44AD and section 44AE of the Income Tax Act for computation of business income. Income tax return (ITR) is simply a statement/document, in which a person declares the information about his income and the tax liability thereon, for a particular year, to the tax authorities and it is advisable that one should furnish correct and complete particulars in the Income-Tax return. Every individual whose total income before allowing the deductions and exemptions exceeds the basic limit under the Income Tax Provision are required to file their return of income/ income tax returns. The return should be furnished in the prescribed form on or before the due date(s). Moreover, even if where an assessee is not required to compulsorily file their return of income, can file their return of income and also maintain their Income Tax file (Statements of assets and liabilities or Balance Sheet), as the same has many benefits. Income Tax Returns can be filed either electronically, i.e. online returns, or manually with the officer of the income tax department under whose jurisdiction one falls. The Income Tax Department has notified various forms for filing income tax returns by different types of persons having income under various heads. Two simpler income tax return forms has been introduced by the Income Tax department which will be used by the Individual from the assessment year 2011-12 (Financial year 2010-11). Two newly introduced income tax return forms are namely ITR 1 (SAHAJ) for salaried individuals and ITR 4S (SUGAM) for small business taxpayers whose income is computed in accordance with section 44AD and section 44AE of the Income Tax Act for computation of business income. Tax Returns for Financial Year 2010 -11 (March 2011) has started. Request you to please visit Taxmantra.com or mail us Form16/ Salary Certificate and details of other income, at info@taxmantra.com . We would take it from there to file your return of income. Taxmantra.com provides complete online taxation solutions for individuals ( Tax Returns + Tax Support + Tax Planning ) – please see this – Services Offered. Taxmantra.com- Providing Complete Online Tax Solutions for Individuals, Not Just Returns.