Guwahati, July 30 -- For every Indian startup, filing an Income Tax Return (ITR) is a non-negotiable annual obligation. It's not just about legal compliance; it's a critical step for maintaining transparency, accessing future funding, and even carrying forward losses. What many new entrepreneurs overlook is how their initial choice of business structure profoundly impacts their ITR filing requirements and overall tax liability.

Even if your startup is in its nascent stages, incurring losses, or has minimal revenue, filing your ITR on time is vital:

Legal Compliance: It's a fundamental legal requirement under the Income Tax Act, 1961. Non-filing or late filing attracts penalties, fines, and interest charges.

Loss Carry Forward: Startups...