For those who pay income taxes, there is some crucial news. You will soon gain a significant advantage. If you routinely file your income tax return but for any reason haven’t been able to finish it, the government is now providing information in this respect. Such individuals are receiving information from the department detailing where their filing is blocked and how much has been filled.
The income tax department offers extensive facilities
People’s income tax returns frequently become stopped in half because they lack the appropriate paperwork or are out of date, which increases the likelihood that they will forget to file their returns. Frequently, examples like these also show that ITR returns are not filed sloppily by persons after the due period has passed. The Income Tax Department is currently sending messages to these folks to warn them of this problem.
ITR forms need to be completed
Notably, only those who are subject to income tax are required to complete ITRs. Those who earn more than Rs 2.5 lakh annually are required to file income tax reports. ITR filing is required. According to the Income Tax Act, the exemption amount has been set at Rs. 3 lakh for senior persons and Rs. 5 lakh for very senior citizens, meaning that if your income exceeds these amounts, you must pay tax. You must pay income tax even if your TDS is being withheld somewhere. After filing an ITR, it is also important to verify the ITR.
Check online
If you have not checked the ITR, then there is no use in filing your return, that is, your return will be deemed canceled. ITR verification can be done using Aadhaar OTP or EVC produced by a bank account, net banking, or a Demat account. Additionally, you can use a digital signature certificate to confirm it.
News Mania Desk
