ITR Filing: While filing income tax return, this time people should also be aware of one important thing. In fact, in Budget 2023, it was announced by Finance Minister Nirmala Sitharaman that from this time the new tax regime will be the default tax regime.
Income Tax Return: People have to login to the ITR portal to file income tax return. After this people can file income tax return. At the same time, for filing ITR, people also have to take care of very important things. In Budget 2023, some important changes were also made for filing income tax returns. In such a situation, people should also be aware of these changes. Let us know about some important things that those filing income tax have to take care of…
Last date
People filing income tax return must take care of its last date. People filing income tax return for the financial year 2022-23 can file their personal income tax return by 31 July 2023. If you forget to file income tax return by this date and individual taxpayers file ITR after this, then penalty can also be imposed.
Default tax regime
While filing income tax return, then this time people should also be aware of one important thing. In fact, in Budget 2023, it was announced by Finance Minister Nirmala Sitharaman that from this time the new tax regime will be the default tax regime. In such a situation, if people file income tax returns, then you have to file returns in any tax regime, be aware of this.
No tax up to Rs 7 lakh annual income
This year, Finance Minister Nirmala Sitharaman had announced that any person who files tax under the new tax regime will not have to pay any tax on income up to Rs 7 lakh annually. In such a situation, people will get tax exemption on annual income up to seven lakh rupees in the new tax regime.
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