Income Tax Department launched TAXASSIST, will get help in filing income tax return, know how?
The Income Tax Department has launched TAXASSIST. With its help, you will be able to file your returns easily. Let’s know how it will work.
TAXASSIST: The Income Tax Department has launched TAXASSIST to provide relief to crores of taxpayers of the country. With its help, return filers can easily get a solution to their query and file returns. Explaining the latest initiative, the Income Tax Department said that the launch of TaxAssist has been designed to simplify all tax related concerns. The Income Tax Department explained through an example the situations in which taxpayers claiming tax exemption under section 80GGC may face problems.
This section gives tax exemption to donors who donate to a political party or electoral trust. The department shared three different scenarios to explain how the TAXASSIST tool helps taxpayers document these claims, clarify and respond to notices. This initiative has been launched with the aim of transparency and simplifying the process of tax claim.
Case 1: Wrongly claimed exemption
If the taxpayer has wrongly claimed exemption under 80GGC, TAXASSIST will advise them to revise their return or file ITR-U and deposit the tax and interest and return the excess refund. Failure to do so may result in investigation or penalty.
Case 2: Claim of bogus donation
If someone has claimed exemption by showing fake or illegal political donation, it will be considered as tax evasion. In such cases, TAXASSIST will advise the taxpayer to file ITR-U and deposit the tax and interest due to avoid legal action.
Case 3: Claim of donation
If the donation has been made to a legitimate political party, TAXASSIST advises to keep the donation receipts and proof of bank transaction safe as these may be needed during investigation. This initiative is part of the Income Tax Department’s effort to make tax filing easy and transparent.
Deadline to file return till September 15
This time the Income Tax Department has extended the deadline for filing returns from July 31 to September 15. This has been done to provide relief to taxpayers. The last date for filing Income Tax Return (ITR) for the financial year 2024–25 is September 15, 2025.
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