Income Tax Archives

What happens if you fail to file your Income Tax Return on time?

The income tax return (ITR) filing deadline for the fiscal year 2021-22 or assessment year 2022-23 is July 31, 2022. Most of the taxpayers have already filed their ITR but for the ones who are unaware or are missing out to…

Income Tax Department in ‘no mood’ to extend dates; reminds people to file return before July 31

During the COVID-19 the Income Tax went lenient with the taxpayers due to the pandemic and the outbreak which caused a lot of fuss in the past two years. Surprisingly this year, the Income Tax Department and the decision…

Know which ITR Form to choose as Income Tax Return due date approaches soon

In order to avoid fines and paying additional interest on any unpaid taxes as well as to take advantage of a number of other benefits, taxpayers must complete their income tax returns by the end of the month, unless the…

Check out when ‘not’ to file ITR-1 to prevent yourself from faulty Income Tax filing

Talking about income tax, while filing a return we have come to an opinionated fact that ITR-1 form is a common form filed by at least 45% of taxpayers. Over the past 3 years the data suggests ITR-1 to be the most common…