Accounting for Filing ITR

Why accounting is required for salaried person.

If your income is more than 50 Lakhs the you have to report all the Assets and Liabilities in your Tax Return in July.

Therefore, without proper books of accounts you will either give wrong information or skip declaring the Assets and Liabilities in itr form 2 and ITR 3 form.

If you are a businessman than you have to file ITR form 4 or ITR 3 form in income tax return, in the tax return you have to give cash sales, expenses details.

Without accounting 80% are business ITR get filed wrong.