ITR submitting final day right now: Check these final minute element

Today is the final day for submitting revenue tax for this monetary 12 months. In case, you fail to finish the process by Thursday, you’ll find yourself being a non-filer and can be required to pay a Tax Deducted at Source (TDS).

The very first thing that taxpayers should take note is to examine the Annual Information Statement (AIS) or 26 AS for the AssessmentYear (AY) 2021-22. This is to verify whether or not they should file ITR for AY 2021-22 or not.

If you fail to file ITR for AY 2021-22, then the TDS charge relevant may enhance. The revenue tax division has explicitly mentioned that “Not submitting ITR may end up in larger TDS subsequent 12 months.”

In case, you miss right now’s date, you may not get the refund (if due). 

However, when you’ve got failed to finish the process, you’ll be able to nonetheless do it by paying a late fee charge. 

The revenue tax division has additionally reminded us that right now can also be the final date for linking Aadhaar with PAN. Taxpayers have to hyperlink Aadhaar with PAN as a way to keep away from penalty as much as ₹1,000.

“Your contribution strengthens the safety & prosperity of the nation, enabling development in education, health and infrastructure,” the Income Tax Department mentioned.

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