FILING CURRENT ITR - ADVISORY ON OLD OR NEW REGIME

 FILING YOUR CURRENT ITR- FY 2023-24 (2024) & CHOICE OF BENEFICIAL REGIME OLD/NEW.

    Under The time has come that we have to file our Income Tax returns by 31 July 2024, Unfortunately Forms 16 from SPARSH are still awaited. As per information available these are likely to be loaded on our SPARSH accounts during first week of July 24. Even though Enough information is available on our Annual Information Statement which ch can be downloaded from the Income tax site after logging in. 

   Our Financial adviser has advised that we should compare the Form 16 , Form 26AS and AIS with our own charts made based on pension slips 

INCOME TAX - RELIEF ON ARREARS RECEIVED

  RELIEF ON INCOME TAX ON ARREARS OF OROP-2

1.  There have been Many queries from our readers on as to how to work out relief on Arrears of OROP-2 which has jumped up the Taxable income for the Financial Year 2023-24., which had been received during the year and also what we should do before filing the current ITR before 31st of Jul 2024

3.  The installments of OROP-2 or portion of it that falls under the FY 2023-24 has added to your income thereby enhancing the amount of Income Tax that will be assessed that becomes due accordingly