3/7/2024, 9:45:04 am

ITR filing 2024: How filing wrong income tax return form

Taxpayers are urged to file their income tax returns accurately and on time to avoid penalties and notices. The correct ITR form must be chosen, depending on income type and taxpayer category, with seven forms available for FY 2023-24. Mistakes can lead to penalties ranging from 100% to 300% of the tax amount due.