The last date for filing Income Tax Return (ITR Filing) is 31 July. Many people have also filed returns till now. Now they are waiting for their refund. Refund (ITR Refund) usually comes within 20 to 60 days of e-verification of ITR.

You can check your refund status online. You can check the income tax refund status either by visiting the website of NSDL or by visiting the e-filing portal of the Income Tax Department.

As on 2 July 2023, around 1.32 crore ITRs have been filed for assessment year 2023-24. Of these, about 1.25 crore income tax returns have been verified so far. So far only 3,973 ITRs have been verified for the assessment year 2023-24. After filling ITR, you must keep checking your e-mail from time to time. This is because the Income Tax Department informs the income taxpayers about ITR through e-mail only.

Check Status on E-Portal Like This

If you have paid more tax than your actual tax liability, you can get refund by filing ITR. For this, first go to the e-filing portal www.incometax.gov.in. After this click on the quick link section. Now scroll down and on going down a bit you will see ‘Know your refund status’. Now click on it. Here you have to enter your PAN number, assessment year and mobile number. After doing all this OTP will come on your mobile number. You will see the refund status as soon as you enter the OTP at the designated place. If you have any problem with ITR bank details, then it will appear on the screen that no record was found.

This is the process to check refund status on NSDL website

• Visit https://tin.tin.nsdl.com/oltas/refundstatuslogin.html.
• Now enter PAN, assessment year and captcha and click on ‘Proceed’.
• Select the assessment year for which you want to check the refund status.
• After entering the captcha code, click on submit.
• The status of your ITR refund will appear on the screen.

The post Income tax return (ITR): How to check IT refund status online first appeared on Rightsofemployees.com.

So far, more than three crore Income Tax Returns (ITR) have been submitted for the income earned in the financial year 2022-23 and about 91 percent of these returns have been verified electronically. Giving this information in a tweet on Wednesday, the Income Tax Department said that till July 18, a total of 3.06 crore ITRs have been submitted. Out of these, e-verification of 2.81 crore returns has been done, which is more than 91 percent of the total returns.

With this, the Income Tax Department said that out of the electronically verified returns, more than 1.50 crore returns have been processed. The department said that compared to last year, the figure of submission of three crore ITRs this year has been achieved seven days earlier.

The deadline for filing returns will not increase

The last date for submission of ITR for the financial year 2022-23 is 31 July. Generally, the deadline for filing returns has been extended, but this time the Income Tax Department has denied its possibility. The Income Tax Department has said that we expect and urge all those who have not filed ITR for Assessment Year 2023-24, such taxpayers to file their ITR at the earliest to avoid last minute rush.

Easy ITR Filing

Filing of ITR is not a very complicated task. If you try yourself, you can file your ITR sitting comfortably at home in a few easy steps. Today we are telling you how you can file ITR for free by yourself. The process of filing ITR online is known as e-filing. The Income Tax Department has set up an independent portal for e-filing of ITR, which is completely free of cost. In addition, there are some private entities registered by the Income Tax Department that enable the e-filing process through their websites.

Keep these documents ready to file ITR To file

ITR, first of all keep your PAN, Aadhaar card, bank account number, investment details and its proof/certificate, Form 16, Form 26AS with you, because your All the information related to ITR will be available from these documents only.

The post ITR Filing Last Date: 3 crore taxpayers filed returns, only 11 days left, then big fine will be imposed first appeared on Rightsofemployees.com.

Apart from this, the CBDT had also made some changes in the ITR-1 form last February with regard to the disclosures to be made under section 1(139). Under this section, people with annual taxable income of less than 2.5 lakhs voluntarily submit the ITR form. Under the new change, such individuals will not be required to furnish further details in their ITR forms even if the value of their fixed deposits has crossed Rs 1 crore.

ITR Form for FY 2022-23

Most taxpayers file ITR-1 and ITR-4 forms to report their income. These forms cater to the needs of most small and medium taxpayers.

ITR-1 can be filled by a person whose annual income does not exceed 50 lakhs, whose income comes through salary, owns a house and has other sources of income including interest. On the other hand, ITR-4 can be filled by individuals, Hindu Undivided Families and firms, whose annual income does not exceed 50 lakhs and this income comes from business or profession.

ITR-2 is filed by a person whose income comes from residential property and whose annual income is more than Rs 50 lakh. ITR-3 is filed by professionals. While ITR-5 and ITR-6 are used by LLPs and Businesses respectively.

The Income Tax Department has not released the online ITR forms yet, but it has released the offline ITR-1 and ITR-4 forms for the assessment year 2023-24.

In the offline mode, taxpayers first download the ITR form and then fill it and upload it on the income tax department’s portal. On the other hand, in the online form, taxpayers can fill their income related information directly on the income tax website itself.

Who is eligible to file ITR-4 form?

ITR-4 can be filed by individuals, Hindu Undivided Families and firms (other than LLPs) who have-

– Income should not exceed ₹ 50 lakh in a financial year

Income from business and profession, which is computed on the basis of an estimate under section 44AD, 44ADA or 44AE

Income from salary/pension, one house, income from agriculture (up to Rs.5,000):

Income from salary/pension, one house property, agricultural income (up to ₹ 5000/-)

Other sources (does not include income from lotteries and horse races)

Interest from savings account

– Interest on Deposit (Bank/Post Office/Co-operative Society)

– Interest from income tax refund

– Family Pension

Interest received on enhanced compensation

– Any other interest income (eg, interest from unsecured loan etc.)

What are the documents required to file ITR-4?

You need to keep the following documents ready for filing ITR-4:

– Form 16

– Form 26AS and AIS

– Form 16A

– Bank statement

– Housing Loan Interest Certificate

– Donation receipt

– Rent Agreement

– rent receipts

– Payment receipt of premium for any investment – LIC, ULIP etc.

You can also visit the official website of Income Tax Department (https://www.incometax.gov.in/iec/foportal/help/e-filing-itr4-form-sugam-faq) for more details.

The post Income tax released offline ITR-4 Sugam form for FY 2022-23, know eligibility and details first appeared on Rightsofemployees.com.

Form 16 is generally issued by the employers by first 15 days of June as the last date for filing TDS for the quarter ending 31st March is 31st May and the employers are required to issue Form 16 within 15 days from the filing of such return. is required to do.

When should you file ITR this year?

Tax expert says that salaried class should file return after getting Form 16. The last date to file ITR for assessment year 2023-24 is 31 July 2023. Salary class can start filing income tax return from June 15. Salary class will be able to download their Form 16/16A by June 15 and will be able to file their returns for Assessment Year 2022-23 (FY 2022-23) accordingly.

This information is available in Form 16

The previous financial year is over and taxpayers have to file their income tax returns for the previous financial year by July 31. If you are employed then you will need Form 16 (Form 16) to fill ITR. Companies have to give Form 16 to their employees by June 15. Form 16 contains information about your total income, taxable income, investment and tax deducted (TDS) in the last financial year.

The post Form 16 Issue Date for AY 2023-24: When will Form 16 be available for assessment year 2023-24, know full details first appeared on Rightsofemployees.com.