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India Business News: ITR 2: If you have to file your Income Tax Return for AY 2023-24 online through the ITR 2 form then read this article to know what all you should keep
The Income Tax department gives a choice of seven forms when a person is filing their tax returns at the end of a financial year. One of the simpler ones is ITR-1 (Sahaj), which is applicable for a large number of small and medium taxpayers. Sahaj is required to be filled by people who have an income up to Rs 50 lakh and who receive income from salary, one house property/other sources such as interest etc. Learn about the requirements and process of filing an ITR in this Business Today Visual Story.
Income Tax return filing deadline: The department issued a public message through its official Twitter handle asking taxpayers, largely individuals and salaried class, to file their returns within the due date of July 31.
Forms pertaining to Income Tax Return (ITR) filing can be downloaded.
In India, a financial year is the period between April 1 and March 31. The assessment year is the year that follows the financial year.