The Government of India has framed Income Tax laws governing the taxes to be levied on the taxable income of all persons who are Individuals, HUF’s, Companies, Firms, LLP, Association of Persons, Body of individuals and any other juridical person. Every Individual who qualifies as the resident of India is required to pay tax on the taxable income. Every financial year, tax payers are required to file Income Tax Returns (ITR) in adherence to the laid down rules and guidelines.…