Wednesday, February 1, 2023

ITR Filing: Good news for ITR filers, Income Tax Department started a big facility

Income Tax Return: There is important news for those who pay income tax. Now you are going to get some big benefits. If you also regularly fill your income tax return and for some reason have not been able to complete your filing, then now information is being given by the department in this regard. The department is sending information to such people that where their file is stuck and how much has been filled.

Income tax department is giving big facility 

Significantly, it is mandatory to fill ITR only for those who come under the purview of income tax. Under this, those whose annual income is more than Rs 2.5 lakh will have to file an income tax return. It is necessary to file ITR. Under the Income Tax Act, the exemption limit has been fixed at Rs 3 lakh for senior citizens and Rs 5 lakh for very senior citizens, that is, it becomes mandatory for you to pay tax if you have income above this. Even if your TDS is being deducted somewhere, you still have to pay income tax. It is also necessary to verify ITR after filing ITR.

Verify online

If you have not verified ITR, then there is no point in filing your return, i.e. your return will be treated as canceled. You can use Aadhaar OTP or EVC generated from a bank account, net banking, or a Demat account to verify ITR. Apart from this, you can also verify it using Digital Signature Certificate (DSC).

Read More: Home Loan Tax Benefit: Tax exemption is also available for buying more than one house by taking a home loan! Understand the rules of income tax from experts

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