Error free tax return, refund, e-verification: Important to-dos for ITR e-filing for AY 2023-24 – watch video

Income Tax Return Filing 2023-24: The last date to file your Income Tax Return on time for the financial year 2022-23 is July 31, 2023. Filing your income tax return on time helps avoid a penalty charge from the Income Tax Department.
Just before you finally click the button to submit your I-T returns on the incometax.gov.in website, it is important to run a final glance and go through a checklist to ensure accuracy. In this week’s episode of TOI Wallet Talks, Shalini Jain, Tax Partner at EY India takes you through this checklist.

Watch the video above to know why and how you must tally information in your tax return to Form 16, Form 16A, Form 26AS, bank statements, Annual Information Statement (AIS) etc.

Income Tax Refund Status

In case your tax return throws up a refund, you can easily track its status online. Watch the video above as Shalini Jain explains the simple process of tracking your income tax refund online.
In case your tax return shows an additional income tax liability, then you can pay the tax online. The process for that is also explained in the video above. Once paid, you will get a message on your screen that the challan payment is successful. You can download the challan and populate the information under the Self assessment tax payment tab in your Income-tax return form for validating the information.
If you have missed out on reporting any income in your tax return, or you realise there is some other error in the information, you can file a revised return with the Income Tax Department within a specified time period. Watch the video above to know what you should take care of when you file a revised return.

Income Tax Return E-Verification

There are multiple ways to verify your income tax return, the easiest of which is e-verification. The option to send the ITR-V to the CPC in Bengaluru still exists, but the e-verification option is more convenient. In the TOI Wallet Talks video above, Shalini Jain also explains the e-verification of tax return process.