21 C
Thursday, December 7, 2023

Today, July 31, is the ITR deadline. Check Out These Last-Minute Taxpayer Tips

<p>The ITR deadline for the assessment year 2023–2024 is approaching, and more than 6.13 crore income tax returns have already been submitted. 3.36 ITRs have so far been processed out of this total. Those who have not yet submitted their ITR are urged to do so as soon as possible before the deadline expires today, July 31. Here are some last-minute suggestions for both individuals who have already submitted their income tax returns and those who haven’t yet filed their ITRs.<img decoding=”async” class=”alignnone wp-image-104296″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/07/theindiaprint.com-airspace-over-karachi-and-lahore-not-safe-european-agency-warns-pakistan-disagrees-35527-income-tax2-w660-.jpg” alt=”” width=”1451″ height=”1088″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/07/theindiaprint.com-airspace-over-karachi-and-lahore-not-safe-european-agency-warns-pakistan-disagrees-35527-income-tax2-w660-.jpg 660w, https://www.theindiaprint.com/wp-content/uploads/2023/07/theindiaprint.com-airspace-over-karachi-and-lahore-not-safe-european-agency-warns-pakistan-disagrees-35527-income-tax2-w660–150×113.jpg 150w” sizes=”(max-width: 1451px) 100vw, 1451px” /></p>
<p>ITR verification as soon as you can</p>
<p>Taxpayers have around 30 days after submitting their ITRs to check them. Those who have previously submitted their ITRs but have not yet verified must do so right away; else, their ITR will be rejected. Those who are currently submitting ITRs are required to do so throughout the procedure. You may e-verify ITRs here.</p>
<p>About 5.23 crore income tax returns out of the approximately 6.13 crore ITRs submitted so far have been validated.</p>
<p>Mention All of Your Sources of Income</p>
<p>Those who have submitted their ITRs or are in the process of doing so must make sure they have included all of their sources of income, including interest income, capital gains, business revenue, rental income from real estate, etc. You may update your ITR right now if you realized you forgot to include any of them.</p>
<p>ITR Form You Filed Is Accurate</p>
<p>The ITR forms number seven. The ITR must be selected depending on your sources of income. You must choose ITR-1 if your sole source of income is your pay. You must choose ITR-2 if your income also comes from capital gains from shares, real estate, etc. Ensure the accuracy of your ITR form. If not, you may instantly update the ITR today.</p>
<p>Make Certain Your Refund Request Is Sincere</p>
<p>People who claim fraudulent refunds get letters from the income tax agency. It also carries a punishment. People recently received income tax letters requesting confirmation of tax exemptions and deductions claimed on their ITRs by the I-T department. Taxpayers may request tax exemptions for things like house rent allowance (HRA), leave travel allowance (LTA), and interest on mortgages.</p>
<p>Your Bank Account Information Is Accurate</p>
<p>Your bank information may be wrong if you have previously submitted your ITR but have not yet received your income tax refund. Your bank account must have been pre-validated. Your bank information must also match what is on your PAN card. Your income tax refund might be stopped by any discrepancy.</p>
<p>To make sure there isn’t a problem with your bank account, you must verify your income tax status. ‘Restricted Refund’ or ‘Not Eligible To Receive Refund’ may appear under your bank account on the income tax site if there is a discrepancy between your bank and PAN data.</p>
<p> </p>

Related Articles

- Advertisement -
- Advertisement -
- Advertisement -
error: Content is protected !!