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Filing ITR is necessary to avoid any penalties. As a law-abiding citizen, one should file their income tax return online.
ITR receipt is a very important document one should also preserve it. It is an important proof of your income and payment of one's income tax filing.
ITR receipt is a useful document for hassle-free processing of bank loans when you apply for high-value loans like home and car loans.
In Visa processing, Income tax efiling of the past years are required to process your visa application. They are very particular about your tax compliance and hence, you are asked to furnish past ITR filing.