INSUBCONTINENT EXCLUSIVE:
Individuals having an annual income of Rs2.5 lakh or more are mandatorily required to file ITR.
The
last day to file income tax return (ITR) for assessment year 2019-20 (financial year 2018-19) is August 31, 2019
Earlier, the last date to file income tax return was July 31 which was extended to August 31
A late filing fee of Rs 5,000 is payable by the assessee for furnishing an ITR after the stipulated deadline but before December 31,
according to the Income Tax Department's website - incometaxindia.gov.in
A late fee of Rs 10,000 is applicable if the assessee files return between January 1 and March 31, 2020
Here are 10 things to know about filing Income Tax Return (ITR) online:Income tax is levied on individual taxpayers on the
individuals (below the age of 60 years) which includes residents as well as non-residents, resident senior citizens (60 years and above but
below 80 years of age) and resident super senior citizens (above 80 years of age).Any individual having an annual income of Rs 2.5 lakh or
more have to compulsorily file income tax returns
For senior citizens (individuals between 60 years and 80 years of age), the limit is Rs 3 lakh, and for very senior citizens (aged above 80
years), the limit is Rs 5 lakh, according to the taxman.The forms for filing of income tax return are known as ITR-1, ITR-2, ITR-3, ITR-4,
ITR-5, ITR-6 and ITR-7.This time, the income tax department has introduced pre-filled ITR (Income Tax Return) forms for certain class of
The department is providing pre-filled ITR-1, ITR-2, ITR-3 and ITR-4 forms available for download as XML files
announced "interchangeability of PAN and Aadhaar".This means that who do not have PAN (Permanent Account Number) card can file income tax
Income Tax Department provides five ways for verification of an ITR: Aadhaar OTP, bank ATM, bank account, demat account and net banking.The
incometaxindiaefiling.gov.inEarlier, the deadline for filing ITR was July 31, 2019, which was extended by the I-T department after the
government was appealed by entities to allow sufficient time to assessees to file their returns.Get Breaking news, live coverage, and Latest
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