What should you keep in mind while filing your income-tax return?
2 years, 5 months ago

What should you keep in mind while filing your income-tax return?

Business Standard  

If you are an earning individual, 31st of July is the last date for filing income tax return for the financial year 2021-22 and assessment year 2022-23. The Income-Tax Department provides pre-filled forms to make the filing of tax returns hassle free. And one of the most important steps in filing an income tax return is to compare tax deducted in both Form 16 with 26AS. So the taxpayers must ensure they assess all the information while calculating the final tax payable and make sure to e-verify the return after filing it.

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History of this topic

ITR filing: Last 1 week to go before these income tax deadlines expire on Dec 31
Trending News
18 hours, 26 minutes ago

ITR filing: Last 1 week to go before these income tax deadlines expire on Dec 31

Live Mint  

With the Calendar Year set to culminate in a few days, there are a few income tax deadlines that are set to expire at the same time. These deadlines relate to the filing of belated income tax return, Vivad Se Vishwas and declaration of foreign assets. Filing of belated return: Typically, the last date to file income tax return is …

Missed filing tax returns in July? File your belated ITR for FY24 by December 31
Trending News
5 days, 3 hours ago

Missed filing tax returns in July? File your belated ITR for FY24 by December 31

India Today  

If you missed the deadline to file your Income Tax Return for the financial year 2023-24 in July, you still have an opportunity to make amends. The Income Tax Department allows taxpayers to file a belated ITR by December 31, 2024. CONSEQUENCES OF LATE FILING Late filing fee As per Section 234F of the Income Tax Act, individuals filing their …

Belated Income Tax Return: You can file it before Dec 31. Check details
1 week ago

Belated Income Tax Return: You can file it before Dec 31. Check details

Live Mint  

If you missed filing your income tax return before July 31 then you do not need to fret! For the financial year 2023-24, while the last date of filing income tax return for individual taxpayers was July 31, one can file it before Dec 31 after paying a fee. If you are filing a belated income tax return then you …

ITR filing: Deadline to file tax returns for corporates, some taxpayers is November 15; Check penalty and other details
1 month, 1 week ago

ITR filing: Deadline to file tax returns for corporates, some taxpayers is November 15; Check penalty and other details

Live Mint  

The deadline to file income tax returns by corporates and individuals requiring audit for the financial year 2024-25 is November 15, 2024. Types of taxpayers to file returns by Nov 15: As per an Economic Times report citing Prakash Hegde, a chartered accountant, there are three types of taxpayers who have to file ITR by November 15, for the financial …

ITR deadline is November 15, 2024 for these taxpayers: Check details
1 month, 1 week ago

ITR deadline is November 15, 2024 for these taxpayers: Check details

Hindustan Times  

The deadline for filing income tax returns for the financial year 2023-24 is November 15, 2024, specifically for taxpayers subject to an income tax audit and some other designated taxpayers, The Economic Times reported. Thus, the tax audit report must also be submitted before filing the ITR. The ET report cited chartered accountant Prakash Hegde as saying the following types …

Income Tax Deadline: Last one week left to file tax return for THESE taxpayers. Check details
1 month, 2 weeks ago

Income Tax Deadline: Last one week left to file tax return for THESE taxpayers. Check details

Live Mint  

Taxpayers who are meant to get their accounts audited have only one week left to file their income tax return for AY 2024-25. The last date to file income tax return for these taxpayers is November 15. The income tax department recently issued a statement that says that it's the last week left for taxpayers whose accounts are audited or …

ITR 2024: Avoid THESE mistakes when filing Income Tax return, otherwise your form may get cancelled
5 months ago

ITR 2024: Avoid THESE mistakes when filing Income Tax return, otherwise your form may get cancelled

India TV News  

ITR filing 2024: The deadline for filing income tax returns is approaching, with the last date to file without late fees for the financial year 2023-24 being July 31, 2024. Avoid THESE mistakes Incomplete or incorrect information: When filing your income tax return, ensure that all information is complete and correct. Discrepancies in income information: Discrepancies in income information can …

ITR E-filing portal glitches: Will Income Tax return deadline be extended beyond July 31?
5 months, 1 week ago

ITR E-filing portal glitches: Will Income Tax return deadline be extended beyond July 31?

Hindustan Times  

The deadline for filing income tax returns in 2024 is set on July 31. The Income Tax Department's website noted, “Over 2.7 crore ITRs have been filed as on 14 July 2024, which is 13% more compared to returns filed during the same period last year. While the milestone of filing of 1 crore of ITRs for AY 2024-25 arrived …

ITR filing 2024: Keep these five things in mind before filing income tax return
5 months, 1 week ago

ITR filing 2024: Keep these five things in mind before filing income tax return

India TV News  

ITR filing 2024: The process of filing Income Tax Returns for the assessment year 2023-24 has commenced. Here are five things to keep in mind while filing your return to avoid errors and ensure smooth processing: Selection of form The choice of form depends on your sources of income. This time, the Income Tax Department has sought additional information through …

ITR filing 2024: How to choose right Income Tax return form? Check types of forms
5 months, 2 weeks ago

ITR filing 2024: How to choose right Income Tax return form? Check types of forms

India TV News  

Income Tax Return Filing: Whether you are employed or have your own business, as an individual taxpayer, you need to file your Income Tax Return by July 31. Check types of forms and know its uses Form ITR 1 Form ITR 1 is for resident individuals whose total income does not exceed Rs 50 lakh during the financial year. Form …

ITR Filing: Why It Is Necessary to File Income Tax Return AY 2024-25 Well Before the Deadline?
5 months, 2 weeks ago

ITR Filing: Why It Is Necessary to File Income Tax Return AY 2024-25 Well Before the Deadline?

News 18  

Filing your income tax return is not just a financial formality; it is a crucial responsibility for every taxpayer in India. As we approach the July 31, 2024, deadline to file the income tax return, it is essential to understand why filing your ITR well before the deadline can significantly benefit you. Conclusion “Filing your Income Tax Return well before …

Income Tax Return (ITR) 2023-24: 6 Essential points and 6 tips for error-free filing
6 months ago

Income Tax Return (ITR) 2023-24: 6 Essential points and 6 tips for error-free filing

Hindustan Times  

One should always pay attention to every minute detail while e-filing ITR for a hassle-free experience, especially with the tax regimes, deductions and benefits changing every year, Business Today wrote. Representational “Filing an income tax return is not a cakewalk for everyone," said Vikas Dahiya, Director of All India ITR, according to Business Today. "For many people not familiar with …

Income Tax Return filing: 60 days to go! A lowdown on the tax forms you can opt for
6 months, 3 weeks ago

Income Tax Return filing: 60 days to go! A lowdown on the tax forms you can opt for

Live Mint  

As the deadline of July 31 to file income tax return for FY 24 draws closer, taxpayers are expected to scurry through their files and folders to arrange the documents they require. Most documents are generally available online, so are the income tax return filing forms on income tax e-filing portal. Income Tax return filing forms to choose from: ITR-1: …

ITR 2024: Mandatory and Optional, Keep These Documents For Income Tax Return Filing, Check Full List
6 months, 3 weeks ago

ITR 2024: Mandatory and Optional, Keep These Documents For Income Tax Return Filing, Check Full List

News 18  

Income Tax Return filing is a critical responsibility for taxpayers and carries several significant implications. Investment Proofs: Documents for investments like Provident Fund, Public Provident Fund, Equity Linked Savings Scheme, Life Insurance premiums, Health Insurance premiums, Fixed Deposits etc., if claiming deductions. Other Potential Documents: Property Documents House Rent Receipts Informational Documents: Form 26AS : This pre-filled statement by the …

ITR Filing AY 2024-25: Boost Your Tax Refund By Claiming THESE 5 Lesser-Known Deductions
7 months, 2 weeks ago

ITR Filing AY 2024-25: Boost Your Tax Refund By Claiming THESE 5 Lesser-Known Deductions

News 18  

Tax Deductions You Can Claim To Save On Your Taxes? Here are a few deductions that may not be popular, but could offer potential tax savings: National Pension Scheme: Contribution to NPS Tier 1 account is eligible for an additional deduction of Rs 50,000 under section 80CCD. Medical expenditure incurred for senior citizen parents: While many taxpayers are familiar with …

What Will Happen If You Do Not File Your ITR Before The Deadline
8 months, 2 weeks ago

What Will Happen If You Do Not File Your ITR Before The Deadline

News 18  

March has ended, and with the income tax filing season in full swing, individuals are busy ensuring they meet their tax obligations. Missing this deadline can impact your ability to choose between the old and new tax regimes. Filing before this deadline allows taxpayers to select between the old and new tax regimes. In contrast, the old tax regime offers …

Income tax returns: ITR-1, ITR-2, ITR-4 forms for FY 2023-24 (AY 2024-25) available on e-filing income tax portal
8 months, 3 weeks ago

Income tax returns: ITR-1, ITR-2, ITR-4 forms for FY 2023-24 (AY 2024-25) available on e-filing income tax portal

Hindustan Times  

The Income Tax Department made online income tax return forms- ITR-1, ITR-2 and ITR-4, for FY 2023-24 - available on the e-filing portal. Income tax return: You can file ITR either completely online on the tax department’s e-filing income tax portal or partially online, partially offline as well. You can file ITR either completely online on the tax department’s e-filing …

Deadline to file updated ITR FY20-21 ends on March 31: Details on additional tax
9 months, 1 week ago

Deadline to file updated ITR FY20-21 ends on March 31: Details on additional tax

Hindustan Times  

The deadline for submitting an updated income tax return for the financial year 2020-21 is on March 31. The provision allows taxpayers who missed filing their return for the said financial year or failed to report any income to file an updated ITR. There is no financial imposition on individuals wishing to furnish an updated return but they have to …

CBDT notifies new ITR forms for Assessment Year 2024-25. Which one is for you?
10 months, 2 weeks ago

CBDT notifies new ITR forms for Assessment Year 2024-25. Which one is for you?

Hindustan Times  

The Income Tax department has officially notified income tax return forms 2, 3, and 5 for the assessment year 2024-25. ‘Average processing time of ITR reduced in 10 years’: FM Sitharaman Union finance minister Nirmala Sitharaman, while presenting interim Union Budget, on Thursday lauded the ‘transformative shift in tax assessment methodologies over the past five years’. Budget 2024 Highlights: Rooftop …

ITR filing last date today: 26.74 lakh income tax return filed till 4 pm
1 year, 4 months ago

ITR filing last date today: 26.74 lakh income tax return filed till 4 pm

Firstpost  

If you miss to file your ITR before the deadline, you can file a belated ITR. However, you would be required to pay the penalty for late filing On the last day of filing of income tax returns, 26.74 lakh ITRs have been filed upto 4 pm. 26.74 lakh ITRs have been filed upto 4 pm today and 3.84 lakh …

File your Income Tax Returns online before the deadline: Check last-minute ITR filing tips here
1 year, 4 months ago

File your Income Tax Returns online before the deadline: Check last-minute ITR filing tips here

India TV News  

As the deadline for filing Income Tax Returns approaches, individuals who earn, whether they are salaried, self-employed, part of a Hindu Undivided Family, or work for multinational corporations or firms, are reminded of their primary responsibility to declare their income and pay taxes. The Income Tax Return serves as an official declaration of a taxpayer's income and serves as a …

ITR Filing: How to file income tax returns for freelancers?
1 year, 4 months ago

ITR Filing: How to file income tax returns for freelancers?

Live Mint  

Are you a freelancer and don't know what to do about taxes? However, as a freelancer, you must have guessed that no one will remind you about filing your Income Tax Returns, and you need to take the initiative yourselves. Refund= Taxes paid – Total tax liability on the current financial year's income Which ITR Form to choose? Choosing the …

ITR Filing Update: Why You Must NOT Delay Filing Your ITR? Check Latest Update Here
1 year, 5 months ago

ITR Filing Update: Why You Must NOT Delay Filing Your ITR? Check Latest Update Here

News 18  

Filing your income tax return on time is important for several reasons. “We would like to thank income tax return filers as ITR filing has been at a much faster pace than last year and we would advise them not to wait until the last moment and also not to hope for any extensions. About 5.83 crore income tax returns …

ITR: Here Are Some Common Documents You May Require For Filing
1 year, 5 months ago

ITR: Here Are Some Common Documents You May Require For Filing

ABP News  

The last date for filing income tax returns for the financial year 2022-23 is July 31. For salaried individuals, here are some common documents to keep in handy while ITR filing: PAN Card PAN Card issued by the income tax department is one of the more important documents required for ITR filing. When taxpayers choose the 'prefill' option, the relevant …

What is the purpose of form 26AS while filing an income tax return? We explain
1 year, 5 months ago

What is the purpose of form 26AS while filing an income tax return? We explain

Live Mint  

As the last date to file income tax return looms closer, tax payers are busy arranging the documents in time to avoid breaching the July 31 deadline. The key documents that are needed to file an income tax return include bank statements, form 16 from the employer, receipts of insurance payments and other investments that are eligible for tax exemptions, …

Income tax return: As deadline approaches, know which form to use for ITR filing
1 year, 5 months ago

Income tax return: As deadline approaches, know which form to use for ITR filing

Hindustan Times  

The deadline to file the Income Tax Return for the financial year 2022-23 is July 31. ITR form 1: Taxpayers and individual residents earning an income of up to ₹50 lakh from salary, income from one house property, other sources such as interest or dividend, and agricultural Income up to ₹5,000. ITR form 2: Individuals and Hindu Undivided Family with …

ITR Filing: What is ITR-6, how to file online for AY 2023-24
1 year, 6 months ago

ITR Filing: What is ITR-6, how to file online for AY 2023-24

India Today  

An income tax return is basically a document that is filed as per the provisions of the Income Tax Act, reporting one’s income, profits and losses, and other deductions as well as details about a tax refund or tax liability. Companies, except those claiming exemption under section 11 due to their income from the property being held for charitable or …

How to file income tax return without Form 16
1 year, 6 months ago

How to file income tax return without Form 16

India Today  

The deadline for filing Income Tax Returns for the fiscal year 2022-23 is July 31. When filing your income tax return, it is crucial to ensure that the Form 16 you use is valid and in an acceptable format. If you need to file your income tax return without Form 16, follow these steps: Calculate income from salary: Compile the …

Filing ITR Now? Who Will And How To File Income Tax Return? Know This Before Hand
1 year, 6 months ago

Filing ITR Now? Who Will And How To File Income Tax Return? Know This Before Hand

News 18  

Income Tax Return filing holds immense importance as it serves as a vital tool for ensuring tax compliance and financial transparency. By filing ITR, individuals and businesses provide a comprehensive record of their income, deductions, and taxes paid, enabling the government to assess tax liabilities accurately. You can find a list of all the ITR forms and their eligibility criteria …

ITR Filing Starts: Expert Tips For Individual Taxpayers To Chose Correct ITR Form
1 year, 6 months ago

ITR Filing Starts: Expert Tips For Individual Taxpayers To Chose Correct ITR Form

News 18  

Filing your Income Tax Return holds significant importance for several reasons. It also facilitates the calculation of your tax liability, as the ITR form prompts you to provide details of income, deductions, exemptions, and tax-saving investments. Each ITR form is specifically designed to capture different types of income and financial situations, so choosing the right one ensures that you report …

Are You Filing ITR AY24 For Salary Income? Here's All You Need To Know
1 year, 7 months ago

Are You Filing ITR AY24 For Salary Income? Here's All You Need To Know

News 18  

Online ITR For Salary Income: Even as the income tax department has enabled the online filing for ITR 1 and ITR 4, individuals can now start filing their income tax returns for the assessment year 2023-24 or the financial year 2022-23. Rebate: Resident individuals whose total income does not exceed the threshold limit of Rs 5,00,000 or Rs 7,00,000 can …

Attention Taxpayers! Online ITR Filing Enabled For AY 2023-24
1 year, 7 months ago

Attention Taxpayers! Online ITR Filing Enabled For AY 2023-24

News 18  

The Income Tax department has enabled online filing of income tax returns 1 and 4, filed by individuals, professionals and small businesses, for the financial year 2022-23. The software/utilities for preparing other ITRs/ Forms will be enabled shortly.…— Income Tax India May 23, 2023 The last date for filing Income Tax returns for fiscal 2022-23 for people who do not …

ITR filing last date AY 2023-24: Due date for filing income tax returns
1 year, 8 months ago

ITR filing last date AY 2023-24: Due date for filing income tax returns

India Today  

Income Tax Returns must be filed by July 31 for the FY 2022-23. On the other hand, if the tax evaded exceeds Rs 25 lakh the punishment could be 6 months to 7 years", as per the website of the Income Tax Department. WHICH TAX RETURN TO FILE: The Income Tax department has notified seven different forms i.e., ITR 1, …

Income Tax Return: Why You Need Form 26AS When Filing ITR?
1 year, 9 months ago

Income Tax Return: Why You Need Form 26AS When Filing ITR?

News 18  

Form 26AS is a statement which shows various details including tax deducted or collected at source, Advance Tax or Self-Assessment Tax, Specified Financial Transactions Demand/refund pending/completed proceedings for a taxpayer’s Permanent Account Number as per Income Tax Department’s database. A taxpayer may pay tax in any of the following forms: – Tax Deducted at Source – Tax Collected at Source …

ITR filing last date for FY 2019-20: How much additional tax do you need to pay?
1 year, 9 months ago

ITR filing last date for FY 2019-20: How much additional tax do you need to pay?

Live Mint  

ITR filing last date for FY 2019-20: The deadline to file an updated income tax return for FY 2019-20 is 31 March 2023. An updated income tax return or ITR-U is a form that allows taxpayers to file the ITR or to correct errors or omissions on their ITRs up to two years from the end of the relevant assessment …

New ITR Forms For AY 2023-24: Know The Key Changes
1 year, 10 months ago

New ITR Forms For AY 2023-24: Know The Key Changes

Live Law  

On February 10, 2023, the Central Board of Direct Taxes announced the tax return forms for the financial year 2022–2023.This year, ITR forms were announced in advance, which is a very positive step toward making compliance easier. The disclosure and reporting requirements on tax return forms will be better understood by taxpayers.Here are the key changes:Separate section for. Here are …

Income Tax Return Filing AY 2022-23: December 31 Is Last Date For Filing Revised, Belated ITR
2 years ago

Income Tax Return Filing AY 2022-23: December 31 Is Last Date For Filing Revised, Belated ITR

News 18  

Deadline For Revised and Belated ITRs: Now that 2022 is ending and the new year 2023 is going to start in about a week, the window for filing the revised or belated ITR is also going to be closed on December 31. So, if you could not file your income tax return by July 1, 2022, or had filed the …

FinMin extends ITR filing deadline for companies till Nov 7
2 years, 1 month ago

FinMin extends ITR filing deadline for companies till Nov 7

Deccan Chronicle  

NEW DELHI: The Finance Ministry on Wednesday extended the deadline for filing income tax returns for the assessment year 2022-23 by businesses till November 7. The Central Board of Direct Taxes, the apex decision-making body in matters of income and corporate tax, in a notification said since it had last month extended the deadline for filing audit reports, hence the …

Income Tax: Forgot to file the I-T Return? Know about revised, belated and updated returns
2 years, 2 months ago

Income Tax: Forgot to file the I-T Return? Know about revised, belated and updated returns

Live Mint  

Income tax, IT department, income tax return, ITR filing- all of these terms can get confusing at at a point. Revised ITR Imagine that you hastily submitted your return before July 31, 2022, only to discover that you neglected to add some income and made a few mistakes.You can file a revised return in this situation to update your income …

Here's why you need to still file your income tax return after paying TDS
2 years, 4 months ago

Here's why you need to still file your income tax return after paying TDS

Firstpost  

TDS is the tax deducted at source and represents only a part of the income tax that you are liable to pay, if you are above the exemption limits set by the government Tax deducted at source or TDS is one thing all of us have come across while filing our income tax return. TDS is the tax deducted at …

Revised income tax return: Eligibility, deadline, other details you should know
2 years, 4 months ago

Revised income tax return: Eligibility, deadline, other details you should know

Live Mint  

ITR filing: Due date for unaudited income tax return filing is gone but those taxpayers who want to edit their return as they have filled some incorrect information in their ITR like use of wrong ITR form, wrong bank account number, etc., they still have an option to do that. As per the revised income tax rules, a taxpayer can …

ITR refund: 5 income tax rules you should know
2 years, 4 months ago

ITR refund: 5 income tax rules you should know

Live Mint  

ITR refund: Due date for income tax return filing for AY 2022-223 is gone and those who have filed their I-T return on or before 31st July 2022, have either got their ITR refund or they are waiting for their ITR refund. Speaking on the income tax rules in regard to ITR refund, Mumbai-based tax and investment expert Balwant Jain …

Income Tax Return Filing AY 2022-23: Missed ITR Filing Deadline? Know What You Can Do
2 years, 4 months ago

Income Tax Return Filing AY 2022-23: Missed ITR Filing Deadline? Know What You Can Do

News 18  

ITR Filing AY 2022-23: The due date to file income tax return has already passed on July 31, Sunday. according to the government rule under the Finance Act, taxpayers can file income tax returns after the due date. Those who have already filed their income tax returns are also eligible to file a revised return if there was a gap …

Income Tax Return Rule Change: Taxpayers Need to e-Verify ITR Within 30 Days, Know Details
2 years, 4 months ago

Income Tax Return Rule Change: Taxpayers Need to e-Verify ITR Within 30 Days, Know Details

News 18  

ITR Filing Rule AY 2022-23: Now, taxpayers have to electronically verify or e-verify their income tax returns within 30 days of filing the return of income. For those taxpayers who have filed income tax returns before August 1, will get earlier time limit of 120 days to e-verify their ITR forms. The income tax department mentioned in the notification, “Where …

ITR filing: I-T department issues top 10 FAQs
2 years, 4 months ago

ITR filing: I-T department issues top 10 FAQs

Live Mint  

The Income Tax Department has issued a set of FAQs on top 10 queries asked by taxpayers while filing their ITRs, according to news agency PTI. Take a look a top 10 clarifications sought by taxpayers on ITR filing, 1) Taxpayers whose mobile number is not linked to Aadhar card can reset the password on income tax e-filing portal using …

Income Tax filing last date: No extension of due date; 24/7 helpline numbers
2 years, 4 months ago

Income Tax filing last date: No extension of due date; 24/7 helpline numbers

Live Mint  

Income Tax filing last date: Today is the last date of filing your income tax return. The income tax department issued a public message through its official Twitter handle asking taxpayers, largely individuals and salaried class, to file their returns within the due date of July 31. Today is the due dt to file #ITR for AY 2022-23,” the income …

ITR: Income tax return deadline tomorrow. File it immediately to avoid penalty
2 years, 4 months ago

ITR: Income tax return deadline tomorrow. File it immediately to avoid penalty

Hindustan Times  

The last date for filing income tax returns is July 31, i.e Sunday. The income tax department has made it clear that the deadline will not be extended, and has asked the tax payers to file their returns before the deadline to avoid any fine. On Friday, the income tax department took to Twitter to remind the tax payers about …

ITR filing: Submitted your return before due date? Now, enjoy these benefits
2 years, 4 months ago

ITR filing: Submitted your return before due date? Now, enjoy these benefits

Hindustan Times  

Taxpayers should file their income tax returns on time not only to avoid last-minute issues or to avoid being penalised by the IT department for late submission of ITRs, but also to make sure that they do not miss out on benefits of timely submission of returns. The deadline to file ITR is July 31 The last date to close …

ITR: Which form should individuals use to file their returns? Details here
2 years, 4 months ago

ITR: Which form should individuals use to file their returns? Details here

Hindustan Times  

Only four days are left for citizens to file their income tax returns as the Union government has already hinted it will not extend the due date beyond the existing deadline, i.e. ITR 2: This is only for individuals or Hindu Undivided Family who fulfil the following conditions: income more than ₹50 lakh; income generated from one among pension/salary, house …

Income Tax Return: All you need to know before filing it
2 years, 4 months ago

Income Tax Return: All you need to know before filing it

Live Mint  

Income tax as stated is tax on the income earned by an individual, company, or any other entity. Income tax returns is nothing but filing of information on the income tax portal about the various incomes received by us throughout the financial year i.e from April 01st to 31st March along with assets owned if any. A ITR is a …

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