Right this moment is the final day for submitting revenue tax for this monetary 12 months. In case, you fail to finish the process by Thursday, you’ll find yourself being a non-filer and can be required to pay a Tax Deducted at Supply (TDS).
The very first thing that taxpayers should consider is to verify the Annual Data Assertion (AIS) or 26 AS for the AssessmentYear (AY) 2021-22. That is to verify whether or not they should file ITR for AY 2021-22 or not.
In case you fail to file ITR for AY 2021-22, then the TDS fee relevant would possibly enhance. The revenue tax division has explicitly mentioned that “Not submitting ITR can lead to larger TDS subsequent 12 months.”
In case, you miss immediately’s date, you may not get the refund (if due).
Nevertheless, you probably have failed to finish the process, you may nonetheless do it by paying a late fee price.
The revenue tax division has additionally reminded us that immediately can be the final date for linking Aadhaar with PAN. Taxpayers have to hyperlink Aadhaar with PAN with a view to keep away from penalty as much as ₹1,000.
“Your contribution strengthens the protection & prosperity of the nation, enabling growth in schooling, well being and infrastructure,” the Revenue Tax Division mentioned.
Supply: Live Mint