The Govt (Central Board of Direct Taxes (CBDT)) on Thursday i.e.  26-07-2018 has extended the deadline for filing of Income Tax Returns for AY 2018-19 by a month i.e. to August 31, 2018, for categories of taxpayers who were to file their returns by July 31. It means the assessee can file their income tax… Read More Income tax return filing deadline extended to 31st August, 2018

Penalty for Late Filing of Income Tax Return  The due date for filing ITR for Assessment Year 2018-19 is 31st July 2018. Effective from the financial year 2017-18, a late filing fee will be applicable for filing returns after the due date.  Late Filing Fees / Penalties Late Filing Fee Details E- Filing Date Total… Read More Penalty for Late Filing of Income Tax Return

Consequences of not Filing Income Tax Return on or before the Due Date We need to file the IT return on or before due date as mentioned in Income Tax Act. There are number of consequences of not filling the Return of Income under Income Tax, which are as below: Late Filling Fee/ Penalty Late… Read More Consequences of not Filing Income Tax Return on or before the Due Date