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• Income tax returns can be filed without any charge till 31 July 2024
• Special care to be taken while filing ITR
• ITR recruitment requires own age and investment certificates

Income tax can be filed free of charge till 31st July 2024. If you are going to file IT return, then know some things to keep in mind while filing ITR.

What is the rule of income tax department?

According to Income Tax Department rules, if you give any false information while filing Income Tax Return or conceal the source of income or any information related to it, the Income Tax Department can send you a notice and also take action. in front of you The procedure has provisions ranging from fines to imprisonment on conviction. In such a situation, if you are also filing income tax return, do not make the mistakes mentioned here.

Do not make these mistakes while filing ITR:

1. Select the appropriate ITR form-

Select the appropriate ITR form while filing ITR. Choose the ITR form based on your income and source of income as if you fill wrong ITR form you may have to pay penalty.

2. Provide correct personal information

Provide your personal details accurately while filing ITR. Fill all the details correctly like your name, pan card details, aadhaar card details, bank account details, home address etc. Nowadays all the information is saved by some document with the department. In such a situation, your one mistake can land you in big trouble.

3. Give complete information about income

While filing income tax return, give correct information about your income and source of income. It is mandatory to provide detailed information about your salary, interest from any source, rental income, capital gains and any other income and its source. If you hide any income or source, you may have to pay a penalty.

4. Provide information about TDS credit

Make sure to show all the TDS information from Form 16/16A issued by your company in your ITR form. If you hide it, you may be prosecuted.

5. Provide correct investment information

To get tax benefits under Income Tax Act 80C, 80D, 80G, you should give complete information about your expenses and deductions including all your investments like SIP, FD, Policy.

6. Give information about interest income

If you have invested where you are getting interest income, give full details about this also. If you hide this information or provide false information, you may be prosecuted.

7. Matching of Form 26AS is mandatory

While filing ITR, please match the information provided with Form 26AS. In fact, your tax payment, TDS and other income tax related information is given in Form 26AS.

8. Keep proof of your income and investments

Keep all documents, receipts or any kind of evidence related to the information given while filing income tax return like your income, source of income, investment of any kind, tax deductions, rent and interest income. So that you will have all the evidence if needed in further investigation.

9. File ITR on time

Income tax department gives a fixed limit for filing ITR for every financial year. While filing income tax return, keep in mind that by filing ITR on time, you can change your ITR form before the due date. Not only this, if you file ITR late, you may be penalized and have to pay late fees.

10. Make sure to verify the ITR

After filing ITR, verify it timely. Keep in mind that if the ITR is not verified, your ITR filing will become invalid. After filing the ITR online, it is mandatory to verify it electronically through Net Banking or Aadhaar etc within the prescribed limits or by sending a physical copy of your ITR to the Income Tax Department with signature.