New Delhi, July 11 -- For decades, taxpayers have viewed Income Tax Returns (ITR) filing as a difficult-to-handle compliance process. Something that requires completion before the deadline to avoid penalties, legal complications and fines. Still, tax experts now believe this perception is changing rapidly due to increased awareness and technological advances.

In today's increasingly digital financial ecosystem, an ITR has evolved into a key financial document that can influence everything from loan approvals and insurance purchases to visa applications and business funding. Financial institutions increasingly rely on ITRs as verified proof of income, financial discipline and long-term credibility.

This makes it vital for all taxpayers t...