The Income Tax Department on July 26, 2024, issued a reminder to file the Income Tax Return.
The following has been stated namely: -
• The returns may be filed by visiting www.incometax.gov.in
• The consequences of delay in filing return of income are namely: -
o Certain losses cannot be carried forward
o Levy of interest under section 234A
o Levy of fee under section 234F
• Ensure to check Form 26AS, AIS and other relevant documents before submission, and do not claim wrongful deduction and exemption.
• Individuals and Entities (whose books of accounts are not required to be audited) e-File the income Tax Return (ITR) for A.Y. 2024-25 on or before July 31, 2024.
