DEFINITION of 'Tax Return'

1. The tax form or forms used to file income taxes with the Internal Revenue Service (IRS). Tax
returns often are set up in a worksheet format, where the income figures used to calculate the tax
liability are written into the documents themselves. Tax returns must be filed every year for an
individual or business that received income during the year, whether through regular income
(wages), interest, dividends, capital gains, or other profits.
2. A return of excess taxes paid during a given tax year; this is more accurately known as a "tax
refund".
INVESTOPEDIA EXPLAINS 'Tax Return'
Individuals use Form 1040, corporations use Form 1120 and partnerships use Form 1065.
Investment income is recorded on Form 1099. Most large corporations and sole proprietors file
tax returns quarterly, rather than just once per year. This keeps the tax balance running as close to
$0 as possible and avoids oversized tax bills at the end of the year.

If your total income like salary, rent received, interest on deposit etc exceeds taxable limit of Rs2
lacs, you have to submit Income Tax return in the prescribed form ITR 1 ITR 2 ITR 3 ....
depending on the nature of income. Even if your taxable income is less than Rs2 lacs, but you
have to claim refund for the TDS collected from you , you have to submit the Tax Return. In the
Tax Return you have to mention your PAN card number

What is the difference between TDS & TCS & VAT ?

Full form of TDS is tax deduction source it is the tax which
is deducted for the parties by company and it is a expense
for company.
Full form of TCS is tax collection source it is the tax
which have to be collected by company from other's and it is
a income for the company.
If VAT is charged means physical material is supplied so there is no TDS to be deducted. but if any
amount is charged for works contract that is charges for any work done than TDS to be deduct on that
amount