EPF nominations decide inheritance -- here's what happens if you don't file.
Master the online ITR filing process and then learn the differences between the old and new tax regimes to pick your best option.
Taxpayers who have not e-verified their ITRs for 2019-20 fiscal can complete the verification process by February 28, 2022, as the Income Tax department has given a one-time relaxation to assessees. As per law, an income tax return (ITR), filed electronically without a digital signature, has to be verified electronically through Aadhaar OTP, or net-banking, or code sent through demat account, pre-validated bank account and ATM within 120 days of filing the return. Alternatively, taxpayers can send a physical copy of the ITR filed to the Centralised Processing Centre (CPC) office in Bengaluru.
IT major Infosys on Thursday acknowledged that some users continue to experience difficulties in accessing the income tax portal and assured that it is working expeditiously, in collaboration with the income tax department to further streamline end-user experience.
A taxpayer filing ITR electronically without digital signature has to verify it using either Aadhaar OTP, or logging into e-filing account through net banking, or by Electronic Verification Code or by sending a duly signed physical copy of ITR-V through post to CPC Bengaluru within 120 days of uploading the ITR.
Filing your tax returns may seem like a lot of paperwork, but it is swift and smooth once you start with a clear plan, says Anil Rego.
The OTP will be sent on the registered mobile number and email of the individual
The link requires a person to punch in his PAN number, Aadhaar number and the exact name as given in the Aadhaar card.
The government has initiated a series of measures, including allowing re-verification at subscribers' doorstep and One Time Password (OTP) based authentication of existing users, to make the entire exercise easier for telecom subscribers.
Archit Gupta -- founder and CEO, ClearTax.com -- lists common mistakes and how to avoid them for filing a hassle-free income tax return.
Use of the incorrect form will result in your return being treated as defective, points out Suresh Surana, founder, RSM India.