Income Tax
return filing due date is just a month away and hence, many taxpayers have
already might gather all the required documents. And if not, then you should
not wait for the deadline to efile income
tax return for the financial year 2018-19. As the CBDT has already notified
about the last date of ITR filing which is July 31, 2019. So, it is advisable
to file ITR before the deadline
ends so that you can avoid any glitch and errors for the Assessment year
2019-20.
Although, the
income tax department has out some of the ITR forms except ITR-6 on the e-filing website for all the tax
assesse to fill our appropriate forms as per the definite income tax return category. Apart
from this, it is important to keep in mind that when you sit to file your
return, there is one thing you need to ensure - pick the right form. If you
file your return using the wrong form, then it will be considered defective.
Penalty of late filing of Income Tax
Return
If any individual
file income tax in India after
the deadline of ITR filing, then it might be
possible that he will be liable to pay additional charges. Earlier,the income
tax department has announced that if anyone failed to file ITR, then late
filing fees will be levied after July 31, 2019 and any time before March 31. Following
we are sharing what
The late filing fee structure is as
follows:
Date
of filing ITR
|
Amount
(Rs)
|
After July 31, 2019 but
on or before December 31, 2019
|
5,000
|
Between January 1, 2020
and March 31, 2020
|
10,000
|
For small
taxpayers whose total income does not exceed Rs. 5 lakh, the maximum late fee
amount will not exceed Rs 1,000 irrespective of when it is filed that is before
March 31 2019.
Documents’ checklist for ITR filing
·
Form 16
·
Form 16A/Form 16B/Form 16C
·
Form 26AS
·
Tax saving investment proofs
·
Capital Gain statement
·
Details of unlisted shares
·
Aadhaar Card
·
Bank Account Details
·
Pan Card Details
How to file Income Tax Returns
Online?
After keeping
all the required documents ready, you can easily file tax
returns online. As the Income tax authority released an e-filing software for
all ITR forms. Hence, it’s very easy steps for the registered user to login efiling of income tax return in India and file ITR without any
hassle.
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