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As the last date to file your income tax return (ITR) looms closer, one should note that filing your Income Tax Return (ITR) using the wrong form can lead to various consequences. The Income Tax Department may reject your return, requiring you to refile with the correct form.
In February this year, the Income Tax Department issued the ITR forms for individuals, Hindu Undivided Families, businesses, and others for 2022-23 fiscal. The utilities can be easily downloaded from the Income Tax e-filing website.
In February this year, the I-T Department issued the ITR forms for individuals, Hindu Undivided Families, businesses, and others for the 2022-23 fiscal year.
The Central Board of Direct Taxes (CBDT) has notified the forms ITR-1 to ITR-5.
The department also reminded the taxpayers that they will have to pay an additional late fee and interest for missing the deadline.