The last date for filing income tax return is 31 July. Any taxpayers who pay tax in excess of the amount due as tax can claim a refund.
Income Tax Return: The last date for filing Income Tax Return is 31st July. Any taxpayers who pay tax in excess of the amount due as tax can claim a refund. Taxpayers can calculate potential tax refunds in tax-saving investments once they file ITR. To claim the refund, verify that the tax credit is reflected in Form No. 26AS while filing the income tax return. You can get maximum refund by trying some tips.
Select the correct tax payment option
Taxpayers should choose the correct option while filing ITR. Choose the option to pay tax as per your requirements. If you are not involved in PPF and Equity Linked Savings Scheme, then the new tax regime can prove to be a beneficial option for you.
File ITR on time
To get more refund, it is necessary to file income tax return at the right time. Late filing of ITR will attract penalty.
Verify bank account
Verify your bank account details properly while filing ITR. The validation process is very important in refund. The Income Tax Department deposits refunds only in those accounts which are validated on the e-filing portal.
Validate e-Return
Verification of return is required within 30 days of filing the income tax return. It is not valid without verifying the return. There are 6 methods of verification. This includes mobile number OTP along with net banking, bank account and ATM Electronic Verification Code (EVC).
