Income Tax Return (ITR) filing is the process of submitting income details to the Income Tax Department of India. It is mandatory for individuals and businesses whose income exceeds the exemption limit set by the government.

All enterprises conducting operations in India, regardless of their size, are required to submit Income Tax returns annually. The tax return process for corporations is more intricate compared to that of individual taxpayers.

A business tax return is nothing but a statement of income earned and expenditure of the business. If the business posts some profits, tax needs to be paid on the profits. Apart from filing taxes, a business may also be required to file TDS or pay advance tax as the need be.