ITR filing for AY 2022-23: The due date for income tax return (ITR) filing for FY 2021-22 or for AY 2022-23 is 31st July 2022 and tax specialists are encouraging individual citizens to file their income tax return on time.
They said filing ITR inside the given due date will assist a citizen with saving late charge up to ₹5,000 as ITR filing post-July 31st, 2022 will draw in late expense too. Be that as it may, they forewarned citizens to guarantee right data in Form 26AS prior to filing one’s ITR.
Tax specialists said that one shouldn’t sit tight for the last date of ITR filing and actually look at Form 26AS much before the due date and assuming there is any wrong data there, get it amended before the due date and afterward file one’s income tax return.
On the best way to address the mistake in Form 26AS, Aarti Raote, Partner at Deloitte India said, “Structure 26AS has subtleties of revenue streams like compensation, fixed store interest, capital additions and so forth and expenses kept consequently.
Hence the subtleties in 26AS is finished by taking out the subtleties from charge keeping returns documented by different payers. Incase of any coincidental mistaken announcing by any payer, the 26AS would reflect wrong subtleties. The citizen ought to continuously check this data gave during the 26AS and incase of mistaken revealing make a solicitation to that payer to address this information with proper supporting reports.
This could be either the business in the event of compensation pay or the banks for FD premium or some other payer. The payers would confirm these subtleties and record a redressed charge keeping return.”
Talking on most normal blunder that might happen in your Form 26AS, Sujit Bangar, Founder at Taxbuddy.com said, “Structure 26AS subtleties are refreshed on quarterly premise. furthermore, you can guarantee just those credits which are reflected in Form 26AS while filing ITR.
As a citizen, one ought to consistently take a look at 26AS explanation. There are different cases found for bungle of information accessible in Form 26AS.
Most normal blunder is of not having credit accessible in that frame of mind AS. First thing to do is to contact your deductor and demand for updation in TDS articulation recorded and in the event that not recorded at this point, solicitation to record TDS proclamation at the earliest.”
At times you have paid charges like development expense or self evaluation charge, however same isn’t reflecting in 26AS. This occurs because of many reasons like wrongly entered PAN or AY. At times there is disappointment on piece of bank to transfer digitized data to TIN.
To address this blunder, you can write to surveying official with solicitation to change in challan. You can utilize the Challan status enquiry office gave at TIN site to confirm whether challan bearing the CIN is transferred to TIN.
“It has been found in couple of cases, passages not relating to your duties are reflected in 26 AS. In such cases, you ought to promptly suggest your deductor to check assuming there is any error in TDS articulation documented by your deductor. You can likewise write to evaluating official insinuating this reality and look for intercession to address it,” Sujit Bangar of Taxbuddy.com closed.
