The advent of online income tax return filing websites and the income tax department’s constant upgradation of its e-filing portal (www. incometaxindiaefiling.gov.in) have made the income tax return filing process relatively easier in recent years, but for many individual salaried taxpayers and pensioners, it remains a dreaded activity which they put off until the last minute —even beyond 31 July, the due date for filing the income tax return (ITR). The dealine to file ITR which was extended to August 31, 2018 by the Finance Ministry is ending today. This year, though, such procrastination will mean paying a huge price. Literally. The penalty for late filing is Rs 5,000, making it imperative to meet the 31 July deadline. If the delay is beyond 31 December, the fine is higher at Rs 10,000. Therefore, it’s best to kick off the process right away. Getting a grip on what all you need to file your return and some organised effort will see you through to the other side of 31 July without too many hassles. Read on to find out more. WHICH TAX FORM SHOULD YOU USE TO FILE RETURN 1. Changes in tax rules Before you embark on the process to… Read full this story
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