Taxpayers note a very important change in filing ITR from 1 April 2024

Important reminder for claiming tax benefits under the old tax regime:

* The new tax regime is the default option for filing Income Tax Returns (ITRs) this year.

To claim benefits under the old tax regime, which offers various deductions and exemptions, make sure you file your ITR by the due date of *July 31st**.

* Filing a belated ITR (between August 1 and December 31) will restrict you to the new tax regime, potentially leading to higher taxes due to missed deductions.

Avoid the last-minute rush and file your ITR by July 31st to maximize your tax savings!