30 Jul , 2022 By : Monika Singh
Income Tax Returns Filing Due Date 2022-23 (Live Updates): Only two days are left before the end of the ITR due date for Assessment Year 2022-23 (FY 2021-22). While many taxpayers and individuals have been urging the Government to extend the last date, it is expected that there will be no extension of the last date this year. More than 4.5 crore ITRs have been filed while 3.41 crore returns have been verified by tax filers, according to the Income Tax Department website. If you haven’t filed ITR, please hurry up and do it before the deadline
More than 4.5 crore ITRs have been filed while 3.41 crore returns have been verified by tax filers, according to the Income Tax Department website
The STCG on debt funds is added to taxable income of an investor and is taxed as per the tax slab of the investor, while that of the equity fund is taxed at a rate of 15 per cent. On the other hand, long-term capital gains on debt funds are taxed at a rate of 20 per cent after indexation, while that of equity funds are taxed at 10 per cent, once the gain amount exceeds Rs 1 lakh in a financial year.
While overall, there are no major changes introduced this year, a few additional information is being sought from taxpayers in the new tax return forms.
If taxpayers have foreign investments such as US stocks in their portfolio, they will have to disclose the same in their ITR. Foreign investments have to be reported in Schedule FA of the ITR-2
Keeping the ITR documents ready can help you avoid mistakes and make the tax filing easier. Therefore, before you get down to filing your ITR for AY 2022-23, here’s a checklist of the important documents you must keep handy for reference.
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