How Advantages of Filing a Nil ITR can Save You Time, Stress, and Money.

How Advantages of Filing a Nil ITR can Save You Time, Stress, and Money.

Blog Article

linked finance ecosystem for procedure automation, bigger Manage, greater financial savings and efficiency

The essential tax exemption limit is dependent upon the tax regime one chooses, in addition to the age of the taxpayer.

Filing an ITR is critical don't just to assert tax refunds, including excessive tax deducted at supply (TDS) in your revenue, and also some several other factors.

If you do not file ITR then you can find substantial probability of your PAN receiving flagged by the IT Office for non-filing of ITR.

By Sarita

Together more info with the deadline to file income tax returns (ITR) closing in, the taxmen have urged taxpayers in order to avoid last-moment rush, in the event they need to make corrections or if there are complex glitches in filing the returns.

a lot of taxpayers are fighting the e-filing portal this calendar year. Problems with the portal have led to a surge of problems on social media. many chartered accountant associations have also contacted the tax Section about these problems.

individuals who have paid out tax deposited at resource (TDS) really need to file a nil ITR so that you can claim a refund. This is due to a person cannot assert a refund on TDS Except he/she files an profits tax return.

Although there are actually about a few weeks remaining with the ITR filing deadline, quite a few tax filers have already been faced with important tech issues when using the revenue Tax Section’s.

to assert Refund of TDS: in the event that if any TDS is deducted on the curiosity income then exactly the same may be claimed as refund by filing a Nil return. 

These glitches usually absence crystal clear resolutions or explanations, triggering substantial troubles for assessees in finishing their profits tax return filing by the due date.

Sign up for the profits tax portal. If you have already got an account, log in with your registered id and password.

To lessen the level of tax payable, a person ought to Evaluate the tax legal responsibility less than both equally the previous and new tax regimes. it is best to opt for that tax routine that leads to decrease taxes.

saying tax refunds: In specified situations, people today could possibly have paid out taxes deducted at source (TDS) or self-assessed tax, even whenever they fall underneath the NIL earnings category. By filing a NIL ITR, persons can claim a refund of the surplus tax paid out.

Report this page