Discover when the Income Tax Return (ITR) filing for Assessment Year 2023-24 will commence. Mark your calendar and stay updated on the official website for the exact start date. Filing ITR is crucial for avoiding penalties, claiming refunds, creating financial records, and more.
ITR filing start date for A.Y. 2023-24
The Assessment Year 2023-24 will start from April 1, 2023, and end on March 31, 2024. The Income Tax Return (ITR) filing for the Assessment Year 2023-24 will commence after the end of the financial year 2022-23, i.e., after March 31, 2023.
However, the exact date of the start of ITR filing for AY 2023-24 will depend on the government’s notification, It is possible that ITR filing will start from the last week of April.
Typically, the ITR filing process begins from April and continues until the end of the assessment year, i.e., March 31 of the following year. It is advisable to keep checking the official website of the Income Tax Department for updates on the ITR filing date for AY 2023-24.
Filing Income Tax Return (ITR) has several benefits, some of which are:
1. Avoid Penalty: Filing ITR before the due date helps you avoid paying any penalty for late filing of returns.
2. Claiming Refunds: If you have paid more tax than your actual tax liability, you can claim a refund by filing ITR.
3. Financial Records: Filing ITR creates a financial record of your income, deductions, and tax paid, which can be used as proof of income for various purposes such as applying for a loan or visa.
4. Applying for Visas: Many foreign countries require ITR as proof of income for granting a visa.
5. Loan Approval: ITR is also required for loan approvals, and having a record of ITR filings can improve your chances of getting a loan approved.
6. Compliance: Filing ITR is mandatory if your total income exceeds the basic exemption limit, and failure to comply can result in legal consequences.
7. Carry Forward Losses: Filing ITR is also necessary to carry forward any losses incurred in a financial year to subsequent years for set off against future profits.
In summary, filing ITR is essential for avoiding penalties, claiming refunds, creating financial records, applying for visas and loans, compliance with tax laws, and carrying forward losses.
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ITR filing for 23-24 is started online mode or not ? When to be start online mode ?
when online e filing start for ITR 4
Still am unable to up load returns when wlii the software be ready?
When I tried to start filing my ITR:-
(1) I have not found form 2 of ITR
(2) I have found a new way of filing ITR ie downloading etc.previously it was not so and was very simple.
Please help and guide.
Thanks
ITR filing is started in offline mode only for ITR 1 and 4 as of now
Why Form 26 AS / AIS are still not updated till now ( 7th May 2023) for interest received/ TDS from banks for the year ended 31st March 2023. What is the due date for banks to upload the information on the same?
Would be thankful to have your response.
hi sir can you help in saving tax & getting my refund into my account
pl. give me calculation structure of IT for ay 2023-24
Hii Sir, I have to file ITR for this year can you help me in this
yes, you can contact us at 9024915488 for filing your ITR and tax saving consultancy. consultancy is free