Finance

Mistakes to Correct If You Are Not Getting Your ITR

For the last few months, several taxpayers and assesses have been waiting to get their Income Tax Return. A large number of Income Tax Returns has been delayed this year. Taxpayers and other people have started complaining about the issue. Many people have used twitter as a platform to complain about the issue to the Income Tax Department and the ministry. Here you can peak through some of the tweets.

Though the audience is complaining about the delay in the tax returns, they are not so aware of the new rules implemented in the ITR submission. Those who were not aware of it could not complete the submission properly and as a result, they have been facing problems and delays in the processing of the income tax return. The changes took place in March and they were to be implemented on all the submission for 2018-19.

Income Tax Refund
Income Tax Refund

Income Tax Department also offered a kind gesture by sending a message to all the taxpayers and assesses for filling their returns. Everyone found it a nice gesture but the delay of the tax return has ruined everything about it. It is very important for you to be aware of the new rules now and for the future business as well. Below, you get the information about two major changes you need to take care about.

  1. New procedures have been implemented by the IT department in the tax-paying system. Earlier tax return used to come to you as a cheque but not anymore. Now they will be sent directly to your bank account. Everything will happen electronically. This is possible once you link your PAN card with the bank account where payment is to be made.
  2. Another factor to keep in mind id to pre-validate your bank account on the e-filling portal of the tax department. When you log in using your PAN card, in the profile section, you get an option to pre-validate account.

Abhishek Bagri

Dabbu: An engineering scholar, a poet, author and a vivid reader, usually found with a book in hand or a newspaper in the pocket. You can contact him on his social handles for his writeups. Email: abhishek@nagpuroranges.com

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