ITR Verification: Important news for taxpayers! Complete this work related to ITR by August 31, otherwise you will have to pay fine!

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ITR Verification: The month of August is about to end. Along with this, the time limit for completing some tasks will also end. Taxpayers who filed income tax returns on 31st July have a chance to verify ITR till 31st August. If you do not do this then you may have to pay a fine.

E-verification is mandatory

It is mandatory to do e-verification within 30 days of filing ITR. Without verification the whole process is considered illegal. Due to which taxpayers have to fill income tax return form again.

How much fine will have to be paid?

The last date for filing income tax return is over. Now if a taxpayer files ITR, then he will have to pay the penalty. Those whose income is more than Rs 5 lakh will have to pay a fine of Rs 5,000. At the same time, people with income less than Rs 5 lakh will have to pay a fine of Rs 1000.

Different methods of ITR verification

For information, let us tell you that there are many ways of ITR verification. Which includes Net Banking, Aadhaar OTP and Digital Signature. If you are doing ITR verification through OTP method, then keep in mind that your Aadhaar card should be linked with PAN card and mobile.

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