Income Tax Return: The return is still being filed by the Income Tax Department. After July 31, permission is being given to file income tax return with penalty.
Those with an annual income of Rs 5 lakh will be fined Rs 5,000 and for those earning less than Rs 1,000. If you have not yet filed the return, then you can do something like this, so that you get the refund immediately. On the other hand, even if you have filed the return, you should know this process.
Taxpayers wait for refund while filing income tax return. In such a situation, it is necessary to follow the correct process while filing the return. With this process you can easily get refund. The Income Tax Department also asks taxpayers to follow the same process. Let us know what is the whole process.
Choosing the right form
Using the correct form ensures that the return is dispatched without any interruptions. If the wrong form is selected, there may be additional scrutiny and delay after filing.
Accurate information
If you give accurate and complete information, the refund comes to your account soon. Refund is sent to your account without any hassle. However, if you give wrong PAN, bank details and other information, then the refund may be delayed.
file returns on time
If you file ITR on time, the IT department easily issues refund to the taxpayer’s account. Along with this, there is no penalty as well.
verification required
If you are filing ITR then it is necessary to do verification. If your mobile number and bank account are linked to Aadhaar, then you can choose the e-verification code option. On the other hand, if there is net banking, then the portal will redirect you to the bank’s site.
Verify Returns Instantly
Online filing is faster and more efficient through the online filing and e-verification portal. E-verify should be done immediately after filing the return.
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