Homepersonal finance News

I-T Dept asks individuals to file ITR for AY 2022-23 on e-filing portal

I-T Dept asks individuals to file ITR for AY 2022-23 on e-filing portal

Mini

Check your Form 26AS, AIS & other relevant documents before submission and of course keep in mind that the last date to file ITR for assessment year 2022-23 is July 31.

I-T Dept asks individuals to file ITR for AY 2022-23 on e-filing portal

The Income Tax Department has asked individuals to file their income tax return (ITR) for the current assessment year 2022-23 on the e-filing portal.

“ITR filing for AY 2022-23 is available on e-filing portal. Check your Form 26AS, AIS & other relevant documents before submission,” the I-T department tweeted on on June 22.

The last date to file ITR for assessment year 2022-23 is July 31.

The introduction of Taxpayer Information Summary (TIS) and Annual Information Statement (AIS) in the e-filing portal has made tax filing easier in the last few years.

The government’s new income tax portal, which was launched last year as part of its digitisation drive, helps tax payers to log in directly with Aadhaar and PAN details. Tax payers can identify pending actions, check status of grievances, and view year-wise tax returns and tax deposits.

Earlier, these details were available under different tabs, but are now organised under a single dashboard. Taxpayers also have the option of adding their chartered accountants who can view the details and take necessary action on behalf of the taxpayer.

As instructed by the tax department, a tax payer must check the documents prior to submitting them. Most companies issue Form 16 by June. Prior to filing the ITR, the taxpayer must reconcile Form 26AS with Form 16. In case of discrepancies, the documents will have to be rectified.

While the I-T Department had notified the ITR forms in April, experts had advised salaried individuals not to file their ITR for AY 2022-23 before May 31. This is because the due date for TDS return filing is May 31, 2022, without which an income taxpayer's Form 26AS cannot be updated. A recruiter cannot provide Form 16A to its employees without filing returns. Hence, earning individuals were asked to wait till May 31, before filing their ITR.

next story

Market Movers

Currency

CompanyPriceChng%Chng