The deadline to submit your income tax return for the fiscal year 2021–2022 is today, after which a late fee for submitting a delayed ITR will be assessed.
In addition, the Centre has stated that they have no plans to extend the ITR filing deadline, therefore it would be wise for the taxpayer to file the return as soon as possible.
The income tax department has released the top ten frequently asked questions surrounding ITR filing in order to help clear up some of the confusion that people and taxpayers still have (FAQs).
According to standard procedure, it takes 3–4 days for various banks to give the department information. After that, it is prefilled in the JSON for tax returns.
The taxpayer can choose to wait the necessary amount of time for the ITR to automatically reflect the information of the taxes paid.
Alternatively, if the taxpayer has previously filled out more information beyond the pre-populated information, the additional information can be manually input after clicking the "Add Details" link for Advance Tax and Self Assessment Tax Payment details under Schedule "Taxes Paid."
The taxpayer must follow the steps below to add a bank account to which a refund is needed: Browse to Profile. View My Bank Account Bank Account Add>> Give accurate bank information and validate. For validation, the request will be forwarded to the relevant bank or NPCI.
The taxpayer may designate the bank account for a refund when the validation is successful.
Note: If a user's bank account has the status "Validation in Progress" while filing an ITR, that account may be designated for a refund without waiting for confirmation. However, the bank's confirmation process must be completed before the refund, if any, would be credited.
3: While trying to file the ITR-7 claiming exemption under below sub-sections, I am not able to find the relevant dropdown in ITR 7 utility. What should I do in this regard?
The ITR-7 is not required to be filed by those claiming exemptions under any of the aforementioned sub-sections; they are free to utilise another ITR type instead, if necessary.
4: How to e-verify through net banking?
The user must do the following to get into their e-filing account using their net banking account:
• On the "Login" tab, click the "Net Banking" link under "Other ways to access your account."
• Choose the bank, then sign in with your net banking credentials on the website.
On the bank website, look for the Income tax e-filing tab. (Note: There are variations among banks.)
• On the bank's website, click the "Login to Income Tax e-filing" link.
• You'll be sent directly to the dashboard for e-filing.
• Under "e-file> Income-tax returns," click the "e-verify return" link.
• To have the return electronically confirmed, click the "e-verify" option.
• You'll be taken to a "success" page where your return will be verified.