What is the deadline for filing the Income Tax Return (ITR)?
State the general deadline (e.g., July 31st for individuals) and note that the deadline for business or audited returns may be later.
What documents do I need to file my ITR?
List essential documents: Form 16, Form 26AS, AIS (Annual Information Statement), bank statements, investment proofs (Sec 80C/80D receipts), and home loan certificates.
What is the difference between the Financial Year (FY) and Assessment Year (AY)?
FY is the year you earn the income (e.g., Apr 1 to Mar 31). AY is the year you file the return for that income (the year immediately following the FY).
What is TDS (Tax Deducted at Source)?
that it is the tax deducted by the payer (e.g., employer, bank) at the time of payment of income, and how it is claimed as a credit.
How can I check my ITR Refund Status?
the process using the platform’s tracker or the official tax portal, and state the typical processing time (e.g., 20-45 days).
Can I revise my ITR after filing?
Yes, you can file a Revised Return (under Section 139(5)) to correct any mistakes in the original return, provided the due date has not passed.
Which ITR Form should I file?
The applicability of common forms (e.g., ITR-1 for salaried income, ITR-4 for presumptive business income) and provide a link to a detailed guide.
How do I e-Verify my ITR?
List the available e-verification methods (e.g., Aadhaar OTP, Net Banking, Bank Account EVC) and why it’s mandatory.
What happens if I miss the filing deadline?
the consequences, such as late filing fees (penalty under Section 234F) and the inability to carry forward certain losses.
What is the difference between a Deduction and a Tax Credit?
Deductions (e.g., Sec 80C) reduce your Taxable Income. Tax Credits (e.g., Rebate U/S 87A) directly reduce your Tax Liability (Tax Payable).
Why is my refund being delayed?
Common reasons include: unverified bank account, ITR not e-verified, or a demand notice from the Income Tax Department.
What should I do if my return is deemed ‘Defective’?
to respond to the notice (e.g., under Section 139(9)) by filing a Revised Return or correcting the error within the specified timeframe.