Income Tax Department: Discard Income Tax return: 5 things to keep in mind before exercising new option by Income Tax Department
Filing an income tax return (ITR) is an annual compliance obligation of the taxpayers. With the increase in the number of tax returns being filed, awareness regarding the steps to be followed by them to complete the ITRfiling process is a must. To start with, you login to your e-filing account on the income tax portal, select the applicable tax return form and provide the required information.Post validating the online filled form, you will submit it and the ITR will be uploaded and an acknowledgement of filing - ITR V is generated. But is this the last step of the process? The answer is NO. An important stage of the e-filing process is verification of the uploaded ITR. Without verifying, your return will not be construed as ‘filed’ and hence, the post filing step is a prerequisite to ens...