Due to heavy rush at the eleventh house at Income Tax Department, department decided to open all related office on 30th and 31st for taxpayers. We all knows Tax Returns submission due date is 31st July -12 but, on the contrary many taxpayers leave from ITR submission of A.Y. 2012-13 such Taxpayee do the following:
- CAN'T REVISE RETURNS: If you miss the deadline, you will not be able to revise your returns. But if you file your returns by this deadline and later realise that you need to revise your returns, you get time till two years from the end of financial year or assessment year, whichever is earlier.
- CAN'T CARRY FORWARD LOSSES: I-T rules permit you to carry forward losses to the next assessment year. But you can't do so if you miss the deadline.
- PAY INTEREST: If you had tax dues in the current assessment year and you failed to file your returns on time, you have to pay interest.
- IF YOU MISS MARCH 31,2012 DATE: You may have to pay a Rs. 5,000 penalty and the return can be filed by March 31, 2013.
Responsibilities of Tax Payee to check while submission of Income Tax Return :
- Collect PAN Number
- Salary income – Form 16/ Form 16A
- Compile proof of other incomes
- Calculate gross total income
- Detail your eligible investments
- Keep TDS Certificates handy
- Pay taxes due if any, after TDS / advance tax
- File appropriate return form
If you want to file your Income Tax Return by SAHAJ (Click Here)
Download Forms (ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6) Click Here
Do you know How to Submit your Income Tax (Click Here Now)
Download Forms (ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6) Click Here
Do you know How to Submit your Income Tax (Click Here Now)
