![]() ![]() Under Section 80C of the Income Tax Act, taxpayers can claim deductions with a limit of Rs 1.5 lakh in the old tax regime. The investments done before March 31, 2023, will be available to claim deduction under the old income tax regime while filing the ITR for FY23. Some items that must be included in the form are House Rent Allowance (HRA), Leave Travel Concessions (LTC) and interest on the home loan. A salaried employee must submit this form to the employer to claim tax benefits or rebates on their investments. The last date to file form 12BB is also March 31. ![]() However, those with zero or negative returns cannot file the updated ITR. It can also be filed if the ITR was not filed in FY20 at all. The taxpayers must file the updated ITR if they omitted certain income details or made any error while filing the ITR in FY20. The last date for submitting the updated ITR for FY20 or assessment year 2020-21 (AY21) is March 31. ![]() Moreover, the two cards can be linked for free by March 31, but after that, the taxpayers will have to shell out Rs 1,000. If the Aadhaar is not attached to the PAN by the deadline, it will become inoperative from April 1. The Income Tax Department (I-T Dept) has fixed March 31, 2023, as the deadline for linking PAN and Aadhaar. So, it is necessary to keep track of these tasks.įive financial tasks that must be completed before March 31, 2023 From linking PAN card and Aadhaar Card to submission of updated income tax return (ITR), failure to meet these deadlines may lead to financial losses. With the end of the financial year 2022-23 (FY23) on March 31, the deadline for various financial tasks will also end for Indian taxpayers. ![]()
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