New ITR Form AY 2023-24 I How to Choose the Right One I Step by Step guide I CA Satbir singh
Filing the correct ITR (Income Tax Return) form is important because it helps to ensure that the information provided to the tax authorities is accurate and complete. The ITR form is used to report the income earned during the financial year and to calculate the tax liability, if any. If you file the wrong ITR form, it may result in an incorrect calculation of your tax liability, which could lead to underpayment or overpayment of taxes. This may result in penalty and interest charges being levied by the tax department. Additionally, filing the correct ITR form also ensures that you comply with the tax laws and avoid any legal implications or consequences that may arise due to non-compliance.
- Which ITR form should I use to file my tax return?
- In this Video you will learn 1. Who needs to file ITR 1 for AY 2023-24 2. Who needs to file ITR 2 for AY 2023-24 3 Who needs to file ITR 3 for AY 2023-24 4 Who needs to file ITR 4 for AY 2023-24 5 Who needs to file ITR 5 for AY 2023-24 6 Who needs to file ITR 6 for AY 2023-24 7. What is ITR acknowledgment and its requirments for AY 2023-24 income tax return form, ITR-V, ITR-1, ITR-2, ITR-3, ITR-4 ITR-5, choosing the right ITR form, income tax return filing, income tax rules and regulations, e-filing income tax returns, income tax in India., #ITR