The last date of filing ITR changes for different taxpayers. As per IT laws, the individuals who usually file their income tax return using ITR-1 or ITR-4 forms, the deadline to file ITR was 31st July 2022. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited was 31st October 2022.
If the individuals who usually file their income tax return using ITR-1 or ITR-4 forms does not file ITR by July 31, a penalty between Rs 1,000 and Rs 5,000 would be imposed.
Steps to file income tax return of individual, online or offline:
Step 1 : Selection of ITR form depends on your source of income. ITR 1 OR SAHAJ, ITR 2, ITR 3 or ITR 4.
Step 2 : Form 16 which you’ll get from your employer. If you’ve changed your job in the financial year, then you’ll have more than one Form 16. This form has all the information required to prepare your tax return. It has two parts, Part A and Part B.
Step 3 : Documents like bank statements, interest certificates, and your housing loan certificate (in case of housing loan) is also required for filing IT returns.
Step 4 : Also, download Form 26AS from the e-Filing website. Form 26AS shows the income for which taxes are deducted at source, it is an annual tax credit statement.
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