Income tax return last date: Alert! Just 2 DAYS left to file your ITR; Taxman will slap penalty on non-filers
Income Tax Return last date: Only two days remain for income tax return filing and it's advisable for all taxpayers to file their I-T return at the earliest. The original deadline to file returns was July 31st, but the last date was extended up to August 31st.
Income Tax Return last date: Only two days remain for income tax return filing and it's advisable for all taxpayers to file their I-T return at the earliest. The original deadline to file returns was July 31st, but the last date was extended up to August 31st. According to the tax and investment experts, if you fail to file your I-T return by August 31st, then the Income Tax Department will slap a Rs 10,000 penalty on you. It is to be noted that for all citizens except those over 80, ITR filing is to be done online.
Here are the steps to file Income Tax Returns:
1. First of all, make all the documents available which are mandatory to file ITR. The documents are- TDS certificates (Form 16), PAN, Aadhaar, bank account statement, and salary income. The tax-payer is also suggested to keep documents having records of gross income, PF deductions, and other incomes apart from salary.
2. Now login to the ITR e-filing account and choose the assessment year for which tax is being paid.
3. Select the correct ITR form or collect the suitable ITR form from the employer. ITR-1 should be used by those whose primary income comes from salary.
4. Check the amounts mentioned in Form 26 AS (This form is a record of earnings and deductions from the income which rests with the govt. It can be downloaded from through net-banking) corresponds to those in Form 16 AS. If the amounts anyhow are not the same, rectify the issue.
5. Now after filing the return, the tax-payers need to do the verification process. Verification can be done by using Aadhar OTP or net banking.
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