Income tax FOR NEWBIE

[unusedbrain1]

DOES filing income tax ,has any benefits in getting cc , Obv even if i will file would be less than 5L .
If i file income tax .what are the benefits!.
1- ofc can get the Life insurance hassle free .


Please guide ..
I m still in college & i do have business in my name but everything happens in cash .

 

[SSV]

DOES filing income tax ,has any benefits in getting cc , Obv even if i will file would be less than 5L .
If i file income tax .what are the benefits!.
1- ofc can get the Life insurance hassle free .


Please guide ..
I m still in college & i do have business in my name but everything happens in cash .

Contact a CA first..
You are saying all your business transactions are in cash.. you need a pro to look into your business affairs .
If you are a salaried it's a different issue.

 

[SSV]

DOES filing income tax ,has any benefits in getting cc , Obv even if i will file would be less than 5L .
If i file income tax .what are the benefits!.
1- ofc can get the Life insurance hassle free .


Please guide ..
I m still in college & i do have business in my name but everything happens in cash .

You don't file your ITR for CC purposes....
You file your ITR because, you need to file it as per IT act.. try to understand this basic difference.
To file an ITR with business income, you need to follow a few things ,like books of accounts, p&l account etc etc...which a tax professional is in a best position to advise you and not a public forum