ITR Filing: There has been a delay in giving information about tax-saving investments, this is how you can claim benefits

If you have not filed an income tax return for the financial year 2022-23, then this news can be useful for you. The last date for filing ITR is July 31, 2023, so if ITR is not filed before the due date, you may have to pay Rs 5,000 as a late fee.
This date has been kept for those taxpayers whose accounts do not need to be audited. If you too have not yet been able to inform your employer about tax-saving investments, then the benefit of tax exemption can be availed in this situation as well.
It is necessary to use the old regime of income tax to claim tax benefits during ITR filing.
If you use the new regime of income tax, then you will not be able to take advantage of benefits like section 80C, section 80D. Therefore, for claiming tax benefits, the old regime is more beneficial than the new one.
Tax benefits can be availed with investments under section 80C. If you have invested in a life insurance policy, PPF, ELSS, tuition fees of two children, NPS, and Sukanya Samriddhi, then you can take advantage of tax-benefit with a maximum investment of up to Rs 1.5 lakh.
If you live in a rented house and you get HRA from the employer, then a deduction can also be claimed on this. However, information regarding HRA will have to be given while filing an income tax return.
Along with this, tax exemption can also be claimed on the premium paid on Mediclaim under section 80D. Let us tell you, salaried people also get the benefit of a standard deduction of Rs 50,000 separately.