ITR filing FY 2023-24 last date July 31, 2024: Steps to register on the ...
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When an individual earns a certain amount of income annually, the government mandates the filing of an
income tax return
(ITR) by a specified deadline. Filing your ITR can secure a tax refund if you've overpaid and serves as a valuable proof of income, especially useful for visa applications, loans, or government jobs.
ITR filing 2024 deadline is July 31
The deadline to submit your Income Tax Return (ITR) for the financial year 2023-24 (Assessment Year 2024-25) is July 31, 2024.
This applies to most individual taxpayers who do not need their accounts audited.
Filing late may incur a penalty, so it is advisable to meet the deadline.
Why it is important to file ITR (Income Tax Return)
Prerequisites for registering on the e-filing portal
To register on the e-filing portal, ensure you have:
How to register on the e-filing portal
Registering on the e-filing portal is essential for first-time taxpayers to file their income tax returns online. Follow these steps to create your account and access tax-related services efficiently.
Step 1: Visit the e-filing portal
Step 2: Validate your PAN
Step 3: Enter basic details
Step 4: Provide contact details
Step 5: Verify OTPs
Step 6: Confirm details
Step 7: Set password
Step 8: Create personalised message
Step 9: Complete registration
How to file ITR (Income Tax Returns) online
Filing your ITR online is a streamlined process that ensures compliance and potential refunds. Follow these steps to submit your income tax returns through the e-filing portal efficiently and accurately.
Step 1: Access the e-filing portal
Step 2: Log in
Step 3: Enter required details
Step 4: Select mode of filing
Step 5: Select your status
Step 6: Choose the appropriate ITR form
Step 7: Review your ITR
Step 8: Compute tax summary
Step 9: Validate your return
Step 10: Submit your ITR
ITR filing online related FAQs:
The deadline for submitting income tax returns for the financial year 2023-24 (Assessment Year 2024-25) is July 31, 2024, marking the end of this month.
Taxpayers who fail to meet the July 31 deadline can still submit their return by December 31, 2024, for the financial year 2023-24 and assessment year 2024-25.
Although you can file a delayed ITR until the end of the year, be aware that late filings will incur penalties ranging from Rs 1,000 to Rs 10,000 based on the delay duration. Additionally, delaying your ITR filing may result in the loss of certain deductions for lower taxes and increased scrutiny from the Income Tax Department.
Before proceeding with your ITR filing, ensure you have the essential documents prepared, including: Form 16 (from current and previous employers if applicable), PAN Card, Aadhaar Card (ensuring it's linked with PAN), investment proofs (like bank deposits, PPF deposits), home loan interest certificate, and receipts for insurance premium payments.
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