Taxpayers must file their income tax returns (ITRs) and e-verify them to claim the refund. Ifyou have missed the last date of filing an ITR-July 31 for FY23-24-you can still file your ITR by December 31, 2024, by paying a penalty of ₹5,000. Such an ITR will be known as a belated return. However, to claim a refund, you will still have to e-verify your belated ITR. E-verification can be done on the e-filing portal through Netbanking, Aadhaar OTP, or by sending a signed ITR-V form. Typically, the income tax department takes 4-5 weeks to process the refund, depending on the case.
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Esta historia es de la edición September 2024 de Outlook Money.
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