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Financial Literacy News: As the deadline for updating Income Tax Returns (ITRs) for the fiscal year 2020-21 draws near, many individuals have recently received emails from the Income Tax Department regarding significant transactions flagged in their Annual Information Statement (AIS). Here's what you need to know about these communications and how to address them: ....
The deadline for verification has been reduced from 120 days to 30 days. If the ITR is not verified within this period, it will be assumed that the taxpayer has not filed the ITR ....
Today is the last date for filing Income Tax returns and so far, over 6 crore returns have been filed for the Assessment Year 2023-24. Who needs to file the return, how can it be done and what happens if someone misses the deadline? ....
Many taxpayers turned to Twitter to express their dissatisfaction with the income tax department s official handle. The department has provided solutions in response to numerous taxpayer tweets. ....