Income tax filing: 10 Essential guidelines you need to know

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Income tax filing: 10 Essential guidelines you need to know

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<p>The deadline for submitting income tax returns for the financial year 2023-24 (Assessment year 2024-25) is July 31, 2024. </p>

Deadline

The deadline for submitting income tax returns for the financial year 2023-24 (Assessment year 2024-25) is July 31, 2024. 

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<p>The Income Tax Department already fills out the form with data sourced from employers, banks, and investment bodies. This saves time and reduces errors.</p>

Pre-filled ITRs

The Income Tax Department already fills out the form with data sourced from employers, banks, and investment bodies. This saves time and reduces errors.

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<p>Forms like ITR-1 (Sahaj) and ITR-4 (Sugam) are catered towards people with direct sources of income such as salary, pension, or others, making the process more straightforward. </p>

Streamlined ITRs forms

Forms like ITR-1 (Sahaj) and ITR-4 (Sugam) are catered towards people with direct sources of income such as salary, pension, or others, making the process more straightforward. 

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Online filling

The Income Tax Department has made it easier for individuals to file their returns online, as it reduces the need for physical paper work and is convenient. 

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Select the right ITR form

Selecting the right ITR form is pivotal, as it helps with accurate income reporting and lets you claim suitable deductions and tax credits. 

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