ITR filing deadline extended to Aug 31: Use the extra time & this guide to file it right

THE ECONOMIC TIMES Sat, Jul 27, 2019 | 11:51 AM IST ITR filing guide

Prefilled ITRs now available for all individuals According to the latest update, the department has started providing pre-filled XML file containing details such as employer details, allowances and so on. Tips for a smooth income tax return filing experience Taxpayers should keep in mind these tips to avoid penalties and ensure a smooth return filing process. ITR filing: How to report income from investments Nearly all taxpayers have income from other sources but few declare. Find out how to report such incomes. How to file ITR-1 online Individuals can file ITR-1 either by downloading excel utility from e-filing website or by 'Prepare and Submit Online' option without downloading any software. Income tax return forms 2 and 5 updated again As per a notice on the e-filing website, ITR-2 & ITR-5 utilities have been modified to fix bugs. ITR filing: Pre-validate your bank account to claim refund The income tax department has tweaked the process of claiming the tax refund from this year. Deadline to file ITR for FY2018-19 extended Usually, the deadline to file the income tax returns by individuals and HUFs is July 31. Don't make these mistakes to avoid getting tax notice Find out what you should do to avoid getting a notice for small errors on income tax returns. How to get tax e-refund It is important for the assessee to first link the PAN to the bank account to be able to prevalidate the bank account. ITR filing: Made a mistake? Here's how you can correct it Section 139(5) of the I-T Act states that after filing their return, if someone discovers any omission or wrong statement, he can furnish a revised return. 10 reasons you may get an income tax notice You may anytime come under the taxman's lens. Here are 10 reasons taxpayers can get an income tax notice. Penalty for missing ITR filing deadline and who won't pay If you are a small taxpayer whose gross total income does not exceed Rs 5 lakh then the maximum fees you are liable to pay is Rs 1,000. Traded in F&O? Use ITR-3 or ITR-4 to file tax return Even salaried individuals have to file their tax returns in ITR 3 if they have traded in futures and options.

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