Refund of 31 lakh people stuck despite filling ITR, do this work to get money
[ad_1]
Refund of 31 lakh people stuck despite filling ITR, do this work to get money
New Delhi (Best Hindu News): According to the Income Tax Department, the income tax refund of about 31 lakh people may get stuck. Many taxpayers had filed their income tax returns for assessment year 2023-24 or financial year 2022-23 through the e-filing portal before the deadline, but had not verified their income tax returns. Now, these taxpayers will not be considered eligible for refund. Because as per the rules of the Income Tax Department, it is mandatory for all taxpayers to verify their ITR. If the taxpayer does not verify his income tax return, then the income tax return will not be considered as filed.
Income Tax Department gives 30 days time for verification after filing ITR. If the income tax return is not verified, the department will not process the refund. The result of this will be that these taxpayers will have to file their income tax returns once again. The Income Tax Department has made a tweet. In which taxpayers were asked to complete the verification of their ITR within 30 days. If not, the return will have to be filed again and late fee will have to be paid.
According to the Income Tax website, till August 23, over 6.91 crore people had filed returns, but only 6.59 crore taxpayers have verified their ITRs. Around 31 lakh people have not completed the verification process for their returns. Some taxpayers have 30 days to verify, which will end soon. The Income Tax Department has asked these people to verify their income tax returns immediately.
The Income Tax Department has fixed July 31 as the deadline for filing ITR for the assessment year 2023-24. Late filing of ITR is allowed after this date. Late filing attracts late fees. Taxpayers with annual income less than Rs 5 lakh will have to pay a late fee of Rs 1000, while taxpayers with income above Rs 5 lakh will have to pay Rs 5000.
By following these steps, you can easily verify your ITR. You can verify your ITR by sending an OTP to your registered mobile number through the e-filing portal. Additionally, you can verify your ITR through net banking and offline methods. Login to the portal for verification using Aadhaar OTP. After this go to ‘e-verify return’. Choose your preferred verification method and complete the process.
[ad_2]
Source link
