Started IT return filing for Assessment Year 2023-24 and Accounting year 2022-23
Updated: Jun 27
All ITR taxpayers and non-taxpayer for A.Y. 2023-24 filing of income tax return ITR started the financial year 2022-23, i.e. onwards 5th May 2023, offline mode and online filing also started However, the income tax department will announce or notify the exact start date of filing ITR, It may be possible by end of April 2023. It is advisable to keep check continuously the official website https://www.incometax.gov.in/iec/foportal/ of the Income Tax department for updates on the ITR filing date for A.Y. 2023-24. Also, check your Link Aadhaar Status here https://eportal.incometax.gov.in/iec/foservices/#/pre-login/link-aadhaar-status last date for link Aadhaar with pan card will be extended till June 2023.
Filing of ITR on time has several benefits such as
1] File ITR in time and avoid penalties.
2] If you have paid more tax than your actual tax liability, you can claim a refund by filing ITR.
3] Filing of ITR creates financial records of income, deductions, & tax paid which can be used for various purposes like applying for loans, visas, etc.
4] many foreign countries require proof of ITR for granting visas.
5] ITR is required for loan approval, and having a record of ITR filing more chances of getting a loan from a financial institute.
In short ITR filing in time is essential and has benefits like avoiding penalties, claiming a refund, getting a loan, applying for a visa, carry forward losses.