While it’s undeniably early days, the Internal Revenue Service will tell you it’s not too early to think about the income-tax returns for 2024 that will start to come due soon enough. The federal tax collector typically begins accepting and processing tax returns for the prior calendar year in late January,

With a new year here, that means a new tax filing season is just around the corner. Here is what you need to know.

If you are a salaried employee, you must inform your employer about the tax regime you want to opt for during the year. If you fail to do so, it will be assumed that you continue to be in the default

Typically, verification must be done within 30 days. Now since 30 days have elapsed from the time of submission of ITR data, the date of verification will be considered as the date of filing.