22/07/2022
54% tax payers yet to file ITR!
Due date to file ITR (AY 2022-23) for salaried taxpayers and non-auditable cases is July 31, 2022.
๐๐ก๐๐ญ ๐๐ซ๐ ๐ญ๐ก๐ ๐๐๐ง๐๐๐ข๐ญ๐ฌ ๐จ๐ ๐๐ข๐ฅ๐ข๐ง๐ ๐๐ง๐๐จ๐ฆ๐ ๐๐๐ฑ ๐๐๐ญ๐ฎ๐ซ๐ง?
1) Identity Proof: The income tax return can serve as identity proof in various forms such as while applying for any bank account, an Aadhaar card, or any other document. It is also accepted as address proof for multiple purposes like getting admission to colleges and getting benefits from various governmental schemes.
2) Income Proof: As we know that we file ITR based on our annual income. It includes every detail of our source of income, so it can serve as proof for doing transactions while purchasing a property.
3) Makes Loan Approval Easy: While applying for a loan, banks generally ask for income proof and ITR documents of a few years so that they can assess your past and present financial status to make sure whether you would be capable of repaying it or not.
4) For getting a Visa: ITR filing makes getting your visa easy as the Embassy takes note of the individual's financial status while assessing the application. If you file your ITR on time and have a good past history of doing it on time, it would be useful to get your visa easily.
5) Proceed with losses: In order to lower tax liabilities of future income, the income tax rule allows the taxpayers to forward the losses to the next financial year. So, business can carry forward the losses to be paid on the future income. Hence, Filing ITRs on time help set off losses.
๐๐ก๐๐ญ ๐ข๐ ๐ฒ๐จ๐ฎ ๐๐จ๐ง'๐ญ ๐๐ข๐ฅ๐ ๐ข๐ญ ?
Interest and Penalty!
1% interest of your due taxes (2% if the tax dues are more than 10% of advance tax liability) + penalty (Rs1,000, if income is up to Rs 5 lakh or Rs5,000, if income above Rs 5 lakh).
๐
๐๐๐ฅ ๐๐ซ๐๐ ๐ญ๐จ ๐ซ๐๐๐๐ก ๐ฎ๐ฌ ๐๐ญ +๐๐ ๐๐๐๐๐ ๐๐๐๐๐ ๐จ๐ซ +๐๐ ๐๐๐๐๐ +๐๐ ๐๐๐๐๐ ๐๐๐๐๐
๐๐ซ ๐ฒ๐จ๐ฎ ๐๐๐ง ๐ฎ๐ฉ๐ฅ๐จ๐๐ ๐ฒ๐จ๐ฎ๐ซ ๐
๐จ๐ซ๐ฆ ๐๐ ๐๐ง๐ ๐จ๐ญ๐ก๐๐ซ ๐๐จ๐๐ฎ๐ฆ๐๐ง๐ญ๐ฌ ๐๐ญ ๐ฐ๐ฐ๐ฐ.๐ญ๐๐ฑ๐ญ๐ซ๐ฎ.๐ข๐ง/๐ฎ๐ฉ๐ฅ๐จ๐๐
