If you get salary then obviously you must have got Form-16 also. That is, now you have to prepare for ITR filing. It is time to file ITR (itr filing last date for ay 2021-22). But before this, it is important for you to understand some things first so that you do not have trouble. Do not get stuck on your refund due to any mistake or other reasons.
There have been many changes in ITR
The new website of ITR (e-filing portal) has started. Only tax return forms ITR 1, 2 and 4 have been released on the new utility JSON. These forms can be imported and pre-filled from the website. In the pre-filled data, you can fill personal details, salary income, dividend income, interest income, capital gains and other information in Form 26AS.
All information to be included in tax return
Before filing ITR (income tax return), submit all the correct information or documents of income, so that you do not give any wrong information or make some mistakes. This makes your process easier. It would be better to understand how much tax liability becomes, first and pay it in time.
When to file ITR
If your income is so much that you have to get audited, then you can file ITR till 30 November 2021. If you get salary or have personal income then you have to file your ITR by 31st July of every financial year. However, this time the date of ITR for the financial year 2021 has been extended to 30 September.
ITR is not filed for some reason even then there is an option
If due to some special reason you are not able to file ITR by the due date, then you should file it late by 31st December 2021. However, for this too, the date has recently been extended to 31 January 2021. Yes, you have to pay a penalty of Rs 5000 for this.
CBDT has made it clear
The Central Board of Direct Taxes ie CBDT has made it clear that tax payment will have to be made before the actual date of filing ITR. Interest will be payable on the delay in this.
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