Got Plans for 31 December? Ensure to file your ITR before that to enjoy your new year plans
- Galactic Advisors
- Dec 24, 2022
- 1 min read
31 December means the end of the year, New Year parties, New Year Resolutions, new hopes, new aspirations and….ITR deadline (didn’t see that coming, did you :p).
Sorry to be a killjoy but 31 December is the last chance you have to file your Income Tax Return (ITR) for Financial Year 2021-22. You can file a belated ITR in case you have completely missed filing one and in case you have previously filed an ITR but have missed/overlooked reporting some income/claiming any TDS, you can choose to file a revised ITR. You can be compliant with the Laws of the land without having to burn a bigger hole in your pocket!
Let’s see what all you can do before this due date to save your hard-earned money and ensure peace of mind:
File your ITR for FY 2021-22 to get compliant with the tax laws
File your ITR to save on paying excess interest and avoid paying penalties which can be as high as 50% of the tax payable
Claim TDS refund, if you are eligible
Reduce chances of scrutiny and penalty – declare an income or claim TDS you previously missed out on and file your revised return
Need help in filing the belated/revised tax returns? Contact us! Our team will be happy to help.
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