Income tax news: Crores of people of the country pay income tax every year, but the government has given this special exemption to these people, now these people do not need to pay income tax, let us know which people come in this list.
Today is the last date to file Income Tax Return (ITR), if you have not done this important work yet, then complete it immediately, failing which you may have to pay a fine of up to Rs 5,000. Is. The Income Tax Department has been advising taxpayers for a long time to file ITR by the prescribed deadline (ITR Filing Last Date).
But, do you know that some people are not required to file income tax returns. The government has made a provision for exemption for this category. Let us tell you who have got this special exemption and what are the conditions applicable for it?
Submit this form in the bank.
Under this rule, to get exemption from filing Income Tax Return (ITR), a person also has to make a declaration through the bank. Actually, a citizen of 75 years of age or above will have to fill the 12-BBA form and submit it to the bank.
In this form, you will have to give details of interest income on pension and FD or any other kind of investment. Also, the tax included in the information given in the form will have to be deposited in the bank. ITR will be considered filled once tax is deposited. After this there will be no need to file separate ITR.
So far 6 crore ITR files
have been shared by the Income Tax Department. The data of ITRs filed so far has been shared. According to the data shared by the department, more than 6 crore taxpayers of the country have filed their returns. If you are not one of these and have not filed ITR for the financial year 2022-23, then without wasting time do this work first of all today.
Such taxpayers will be given a chance by the department, but they may have to suffer financial loss. Actually, the option to file late ITR is available till December 31, 2023, but with penalty, so it would be wise to do this now to avoid this.
