How to maximise your income tax refunds

Experts say taxpayers have to file returns on time and before submitting they need to double-check all details

- DIPAK MONDAL @ New Delhi

THE income tax return filing season has started. Filing return is a mandatory requirement for all taxpayers except those whose income does not exceed the basic exemption limit of ₹2.5 lakh per annum under the old tax regime and ₹3 lakh under the new tax regime. ITR not only helps the tax department calculate the real tax liability of a person, it also helps taxpayers to get a refund of taxes paid in excess of their liabilities.