2 years, 8 months ago

Filing income tax return? Key points to know before submitting ITRs

The deadline to submit income tax returns for financial year 2021-22 and assessment year 2022-23 is July 31. Income Tax department While the Income Tax Department provides pre-filled forms to help salaried individuals file their returns without any hassle, taxpayers, too, should keep all the required documents handy, and cross-check each field in the pre-filled forms. The new optional tax regime, with modified tax slabs and rates, was introduced by the Income Tax Department, through Finance Act 2020. On missing ITR filing deadline: In such a scenario, the taxpayer may face action under the Income Tax Act.

Hindustan Times

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