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Do not wait for the last date to file ITR, many benefits will be available if you file your return early!

Income Tax Return Filing: The Income Tax Department has started the process of ITR filing for the financial year 2021-2022 and assessment year 2022-2023. You can file income tax return for the financial year 2021-2022 at the earliest. The last date to file ITR is 31st July 2022.

Many times people do not file ITR in time and do this work at the very last date. In such a situation, sometimes due to less time, they make some mistakes. In such a situation, try that if you have not filed ITR yet, then do this work as soon as possible. On filing ITR, you will get your refund soon (ITR Refund). Along with this, if some extra interest has to be received in different sections, then that too will be available as soon as possible. Know what are the benefits of filing ITR early-

1. Will get refund soon
Many experts believe that taxpayers should file ITR as soon as possible. After this you will not face any kind of problem. Along with this, if your TDS is deducted more, then you will get its refund as soon as possible.

2. Penalty has to be paid due to late ITR
Many a times people do not file for refund on time and due to this they also have to pay penalty of section 234 A, B and C and late filing fee. Along with this, the tax that you have to deposit after the ITR Filing Deadline also has to pay a penalty of 1 percent interest per month.

3. Other types of problems may have to be faced
It has been seen many times that the income tax site gets cached due to last minute filing of ITR. Due to this people start getting panic. In such a situation, you must file income tax return in time. You can avoid the troubles that will happen later.

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