Page 3 - Income Tax Returns

Income Tax Return (ITR) status: Steps to check IT Refund status online

There is no specific date for getting your Income tax refund. However, if the IT discovers any inconsistencies in your assessment, it may take longer than usual, anywhere from a week to 10 days

Revised return: File to rectify errors, omissions in original ITR

Multiple revisions, while legal, can attract scrutiny, especially if the final revised return deviates significantly from the original

Avoid these common errors in self-assessment tax calculation

Filing tax return at the last minute: What to do and what to avoid

Missing the deadline for the annual exercise can lead to penalties and more paper work

More than 5 cr income tax returns filed for 2022-23 fiscal so far

Over 5 crore tax returns have been filed for income earned in the 2022-23 fiscal, which ended March 31. Out of the 5.03 crore ITRs filed till 27th July 2023, about 4.46 crore ITRs have been e-verified i.e. more than 88 per cent ITRs filed have been e-verified! the income tax department tweeted. Out of the e-verified ITRs, more than 2.69 crore ITRs have already been processed! The last date for filing ITRs by salaried employees and those who do not have to get their accounts audited for assessment year 2023-24 is July 31. To assist taxpayers with ITR filing, tax payment and other related services, our helpdesk is functioning on a 24x7 basis and we are providing support through calls, live chats, Webex sessions and social media. We will continue to provide support till 31.07.2023, including on Saturday and Sunday, the department said, urging taxpayers who haven't filed ITR for AY 2023-24, to file at the earliest to avoid last minute rush.

How many Indians filed non-zero income tax returns in AY 2022-23?

Only nine states and union territories had more than a million non-zero returns

You can now pay your income tax via PhonePe too

The company has partnered with PayMate, a B2B payments and service provider to enable this feature.

Over 30 mn income tax returns filed so far, 91% verified electronically

Over 3 crore ITRs for income earned in 2022-23 fiscal have been filed so far, out of which 91 per cent have been verified electronically, the income tax department said on Wednesday. "Out of the 3.06 crore ITRs filed till 18th July, 2023, 2.81 crore ITRs have been e-verified i.e. more than 91 per cent ITRs filed have been e-verified! Out of the e-verified ITRs, more than 1.50 crore ITRs have already been processed," the I-T department tweeted. The 3 crore-milestone in income tax return (ITR) filing has been reached 7 days earlier this year.

Income tax return: What is NIL ITR? Who is eligible, what are the benefits

A Nil ITR refers to an income tax return where there is no tax liability on the taxpayer.

Check Form 26AS, reconcile with Form 16 before you file your tax return

Claiming excess tax credit in your return could trigger a notice from the tax authorities

Seniors citizens must disclose all forms of income in ITR to avoid charge

Review forms 26AS and Annual Information Statement to see if you are eligible for refund of TDS

Report crypto income accurately to avoid mismatch during verification

New tax forms also require accurate reporting of income from intraday trading and retirement benefit accounts

Didn't get your Form 16? Worry not, you can still file your tax returns

It is the employer's responsibility to provide Form 16 to all employees. In the unlikely event that your employer fails to provide you with Form 16, you can still e-File your return yourself.

Foreign assets mean tax liabilities: Things to mind while filing returns

Penalties for non-disclosure or inaccurate disclosure of these details can be severe, say experts

When you have to mandatorily file returns even if income is not taxable

There are specific circumstances where filing an ITR becomes mandatory, even if there's no tax to be paid.

10 things taxpayers should keep in mind before filing income tax return

Form 16 contains all the salary details that need to be entered while filing income tax returns

Filing ITR without taxable income: Details on benefits, advantages

The Centre allows certain deductions and exemptions in order to reduce the burden on taxpayers

Craft convincing response to tax notice, backed by relevant documents

Non-appearance and failure to respond on time can have serious consequences

Income tax return: Common mistakes you should avoid while filing your ITR

It is important to note that one should complete their ITR filing process by taking some time to avoid mistakes

PAN-Aadhaar Link: A step by step guide to link two cards before deadline

PAN and Aadhaar card link last date: The Income Tax Department has fixed the last date to link the two cards as March 31, 2023, but the users will have to pay a penalty of Rs 1,000