No tension of pending refund, no fear of fine
[ad_1]
ITR Filing: Income Tax Department will start paying taxes for the financial year 2023-24 i.e. assessment year 2024-25 from April 1. You can pay your income tax online as well as offline. The department has issued forms ITR-1 and ITR-4 for depositing income tax offline. It can be downloaded from the Income Tax Department portal. If you are filing your tax return on online e-filing portal, then it is important to take some precautions. In this, especially keep in mind that no due date is missed or your tax refund does not get stuck due to any mistake of yours. In such a situation, let us tell you some methods which will help you avoid problems later.
Fill correct information in the form
The Income Tax Department has complete information about every major transaction of yours. In such a situation, it is important that you give all the information asked by the department in the form correctly and clearly. To get the refund, give the correct IFSC code of your bank. If the bank or account has changed, then give correct information about the same.
Do e-verification after filling the online form
If you are filing income tax refund online then do e-verification after that. After paying income tax, it is necessary to do e-verification of it. For this, 120 days time is given by the Income Tax Department. To get verification done, first of all, e-file your income tax return. After e-filing the return, you are given options to select e-verification. You can verify your return using e-verification and get the refund even without linking your bank account to internet banking or demat account.
Also Read: Gold and silver prices fell drastically after Holi, know what is today’s rate in your city
Also give information about agricultural income
If you are employed or do business. Even after this, if you have income from agriculture, then give complete information about it in your return. There is no need to submit any document for this. However, if this income of yours falls in the exemption category, then you can claim for it also.
What documents will be required to file taxes?
If you are going to file income tax then you should have only PAN card and Aadhar card. Additionally, both links should also be there. Apart from this, the Income Tax Department does not demand any kind of document at the time of tax filing. However, if investigation takes place, you will have to provide papers related to the information sought.
File taxes before due date
Try to submit your income tax return within the due date issued by the Income Tax Department. With this you can avoid paying fine. If for some reason you have missed it, you can file the return later with penalty.
[ad_2]
Source link