Deadline Approaching: Time is Ticking for Your Income Tax Return 🕒
As a crypto reader, you must be aware that the deadline to file your income tax return (ITR) for the financial year 2023-24 is fast approaching. With the last date set for July 31, 2024, it’s crucial to ensure you complete this task in a timely manner. Here’s everything you need to know to avoid any penalties and ensure a smooth filing process:
Facing Technical Glitches: Be Prepared Before the Deadline 🛠️
- Waiting until the last minute to file your ITR may lead to technical difficulties on the e-filing portal.
- Many taxpayers have reported issues with logging into the Income Tax website using their social media accounts.
- The slow performance of the income tax portal has caused delays and frustrations for individuals trying to complete their filings.
What To Do:
- Check if the Income Tax website is accessible and functioning correctly before the deadline.
- Complete your filing well before the due date to avoid any potential problems or delays.
- Stay updated on any communications or guidelines provided by the Income Tax department.
Income Tax Department’s Response and Assistance 📧
The Income Tax department has advised users to retry after clearing browser cache if they encounter any issues with the portal. If problems persist, users can share their details at [email protected] for further assistance. Despite repeated attempts, individuals have faced challenges in filing their returns due to ongoing portal issues.
Lengthy Processing Time for ITR 🕰️
It’s important to note that the processing of income tax returns by the tax department usually takes around 15 to 45 days from the date of e-verification. This duration may vary based on the complexity of the return and other factors. Users opting for offline verification using the ITR-V form might experience extended processing times beyond the typical range.
Once the tax department processes an ITR, individuals will receive an intimation under Section 143(1) of the Income Tax Act, 1961. This notification must be issued within nine months from the end of the financial year in which the return was filed. For ITRs submitted for FY 2023-24 (AY 2023-24), the intimation notice should be received on or before December 31, 2024.
Hot Take: Stay Ahead of the Game 🔥
As a proactive crypto reader, it’s essential to prioritize your income tax filing well before the deadline to avoid any last-minute hiccups. Keep an eye on the functionality of the Income Tax portal, follow updates from the department, and seek assistance promptly if you encounter any issues. By staying informed and proactive, you can ensure a seamless and timely filing process for your ITR.
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