Is ITR Filing Last Date Extended From July 31st? Income Tax Department Issues Clarification

Filing your income tax return (ITR) is essential, whether you're a salaried individual or a business owner. It ensures your income records are available to the government and facilitates smooth administrative procedures like loans. Thanks to the internet, filing your ITR online is now simpler than ever. Here's a step-by-step guide on how to file your ITR online. Keep reading to learn more.

What Is Income Tax Return Filing?

Income tax return (ITR) filing is the process of declaring your income, expenses, deductions, and tax payments to the government within a specified period, typically a financial year. This declaration is done by submitting an ITR form to the tax authorities, which is managed by the Income Tax Department. Filing ITR is mandatory if your income exceeds the basic exemption limit set by the government.

Income Tax Return Filing Last Date

Recently fake news about the ITR filing last date being extended to August 31, 2024 surfaced the internet. But the Income Tax Department was quick to deny these fake claimes. They issued a clarification on their X handle which read, "It has come to our knowledge that a clipping of Sandesh news is circulating on social media regarding extension of date of e-filing of ITR. This is FAKE news. Taxpayers are advised to follow updates from the official website/portal of IncomeTaxIndia."

The income tax return filing last date for the financial year 2023–2024 is July 31, 2024. The last date of filing your income tax return is less than ten days away and now is the time to get your documents ready and complete the procedure. To make the process simple for you, we’ve curated a detailed step-by-step guide on how to file an income tax return online.

How To Do Income Tax Return Filing: A Step-By-Step Guide To File ITR Online

Here’s a detailed guide on how to file ITR online:

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• 1. Visit the Income Tax e-filing website at https://www.incometax.gov.in/iec/foportal/.
• 2. Enter your user ID (PAN), password, and captcha code. After logging in, navigate to the 'e-File' menu and click on 'Income Tax Return' to initiate the filing process.
• 3. You will be redirected to the Income Tax Return page. Your Permanent Account Number (PAN) will be auto-filled. Enter the following: Assessment Year, ITR Form Number, Filing Type, Submission Mode.
• 4. Select ‘Online’ under ‘Mode of Filing’ and click ‘Proceed’. Choose your status such as Individual, Hindu Undivided Family (HUF), or Firm/Limited Liability Partnership (LLP).
• 5. Based on your income type, select either ITR 1 or ITR 4.
• 6. Review the tax computation summary. Check if you owe tax or are eligible for a refund.
• 7. Click on ‘Proceed to Validation’. Correct any errors and move to verification.
• 8. Select a verification option: e-Verify, e-Verify later, or send ITR-V by post.
• 9. If e-verifying, generate EVC/OTP via ATM, Aadhaar, pre-validated bank, or Demat account.
• 10. After verification, select 'Preview and Submit', then click 'Submit'. Receive an income tax acknowledgement via email. (SOURCE: www.iciciprulife.com)

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