Income tax filing: 10 Essential guidelines you need to know

The deadline for submitting income tax returns for the financial year 2023-24 (Assessment year 2024-25) is July 31, 2024. 

The Income Tax Department already fills out the form with data sourced from employers, banks, and investment bodies. This saves time and reduces errors.

Forms like ITR-1 (Sahaj) and ITR-4 (Sugam) are catered towards people with direct sources of income such as salary, pension, or others, making the process more straightforward. 

The Income Tax Department has made it easier for individuals to file their returns online, as it reduces the need for physical paper work and is convenient. 

Selecting the right ITR form is pivotal, as it helps with accurate income reporting and lets you claim suitable deductions and tax credits.