The total amount of income earned by an assessee during the previous year when furnished by him in a statement becomes return of income. It is also referred to as the document which gives the tax collector all the information about the taxpayer’s tax liability.

By law, individuals and businesses must file an income tax return every year to make sure if  they owe any taxes or are eligible for a tax refund. For the government, income tax acts as a key source of funds which it uses to support  its activities and serve the public.

Sections 139(1), (4A), (4B), (4C) of the Indian Income Tax have the provisions for voluntary return of income.