Electronic Verification Code News Today

Income Tax department releases e-filing versions of ITR-1, ITR-2, and ITR-4 for FY 2023-24. Deadline for filing ITRs is July 31, 2024. Online and offline tools available for filing returns. Various ITR forms cater to different taxpayers needs and situations.

One must note that your PAN card becomes inoperative if it is not linked with the Aadhaar card. However, individuals can re-activate their PAN card by paying the penalty for non-linking PAN with an Aadhaar card. - ITR Filing: Heres How To File ITR If Your PAN Card Is Inoperative; Check Details

Income tax e-filing: Inoperative PAN? Still possible to file an income tax return without Aadhaar OTP verification

ITR filing: The deadline for filing tax returns using ITR-2 and ITR-3 for the FY 2023-24 (AY 2024-25) is July 31, 2024, for most taxpayers. However, individuals who are subjected to income tax audit and have income from business or profession have an extended deadline until October 31.

Unlike residents, NRIs cannot use Form 15G/H and must apply for a reduced or zero TDS certificate. The process involves submitting an online application using Form 13 and verifying it through a Digital Signature Certificate (DSC). The assessing officer then reviews the application and determines the appropriate TDS rate.

US & Canada News News: NRIs note: The Central Board of Direct Taxes (CBDT) recently revised the procedure, rules, and format for obtaining TDS certificates, issuing a circul

Any payment to a Non-Resident Indian (NRI) is subject to deduction of TDS. However if the NRI wants the rate of TDS deduction to be made at a lower or nil rate then an application using Form 13 needs to be submitted on the TDS TRACES portal.

Those who filed their ITR before July 31 can verify it without any penalty. However, if they fail to verify the ITR, it will be rejected and they will have to file a fresh ITR with a late fee of up to Rs 5,000.

Last year, the Central Board of Direct Taxes (CBDT) decreased the ITR verification time restriction from 120 days to 30 days from the date of return submission in order to speed up this procedure. The change came into effect from August 1, 2022.

A common reason for not receiving refunds promptly is incorrect or incomplete information in the ITR form