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Filing an Income Tax Return (ITR) is a vital part of fulfilling your tax obligations, and one must be well aware of the deadlines for filing ITR. For taxpayers not requiring audit, the due date to file ITR for Financial Year 2023-24 (Assessment Year 2024-25) was July 31, 2024. In case the deadline has passed,…
Read More “Missed The ITR Deadline? File A Revised Return By December 31, 2024” »
The initiative is part of the implementation of the e-Verification Scheme, 2021. | Photo Credit: Getty Images The income tax department on Tuesday (December 17, 2024) said it is sending SMS and emails to taxpayers and non-filers where it has identified mismatch between transactions reported in Annual Information Statement (AIS) and income disclosed in ITRs…
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“In FY 2023-24, the percentage of population that files Income Tax Return is 6.68 per cent. (In FY 2023-24, the total number of persons filling income tax return is 8,09,03,315),” Mr. Chaudhary said in a written reply to the Rajya Sabha. Only 6.68 per cent of India’s population filed income tax returns in 2023-24 fiscal,…
Read More “Only 6.68 pc of population filed income tax return in 2023-24 fiscal” »
New Delhi: The I-T Department has asked income tax return filers to not make bogus claims for expenses, under-report their earnings or exaggerate deductions as this is a punishable offence and causes a delay in issuance of refunds. The ITR filing season for assessment year 2024-25 will end on July 31 for all categories of…
Read More “Making Exaggerated Claims To Get Refunds Punishable Offence: Income Tax Department” »