New Delhi: The last date for filing of Income Tax Return (ITR) is very near. At the same time, the government has clearly stated that this time the date will not be extended further. The Income Tax Department is constantly telling people not to wait for the deadline and file their ITR quickly without delay. The deadline for filing the ITR is July 31, 2022. If the government does not extend the deadline, you may have to pay a penalty for late filing the ITR.  

But, amidst this concern, there is also news of relief. Indeed, filling ITR has become much easier in recent times. If you have all the documents related to it, it will take you only 15 minutes to file the ITR. You can easily file your ITR by taking care of a total of 4 points. Employed people, who get a salary, such people should first get Form 16 or 16A from their institution. It will get all the information related to your salaries, such as basic pay, HRA and other allowances. Many of them also get tax exemptions. If your gross total income is Rs 2.5 lakh, you are required to file ITR. At the same time, senior citizens will have to file ITR on an income of Rs 3 lakh and people above 80 years of age on an income of Rs 5 lakh.

If you have a sum of one crore rupees or more deposited in a current account. If you have spent more than two lakh rupees on foreign travel or you have paid an electricity bill of more than one lakh rupees in a year, then you are required to file an ITR.

At the same time, if you are going to file an income tax return, then make sure to check your documents. One such document is Form 26AS. It contains a consolidated tax statement. It contains the complete details of the tax deducted from the income of the taxpayers. You will find details like Tax Deduction at Source (TDS), Tax Collection at Source (TCS), Regular Tax, and Refund. However, keep in mind that many times the information given in the 26AS form is also incorrect. So, correct it immediately. Once you examine the TDS, and TCS in your 26AS, you must combine the Annual Information Statement (AIS). It contains all savings account information. Due to this, you will know whether it is necessary to file ITR according to the amount deposited in the savings account or not.

Capital Gains Statement:-

If you have put money into stocks and mutual funds, you should get a statement of capital gains from the broker and mutual funds. If you have sold a property and invested it somewhere to save tax, then you will have to give its details. Let us know that, the central government had announced in the 2022 budget to impose a 30 per cent tax on crypto. However, it will come into force from the next assessment year 2022-23 (AY23). If you have all the required documents then go to the official website of the Income Tax Department http://incometaxindia.gov.in and file your ITR easily.

Central govt announced July 31 as deadline for ITR filing

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