Due date for Filing Income Tax Return & Consequences of not filing IT Return within Due Date
The Income Tax Depart Act has prescribed various due dates for filing of Income Tax Return by different class of assessees. Section 139 of Income Tax Act, 1961 provides for following different due dates for different class of assesses:
Belated filing of Income Tax Return & consequence of not filing IT return within the due date :
Belated Filing :
If the return is not filed within due date same can still be filed within the end of Assessment year, i.e March 31st of the year following the financial year. For example if Return pertain to Financial year 2017-18, the assessment year is 2018-19, and if the return is not filed within due of July 31st or Sep 30th of 2018, belated return can still be submitted by March 31st 2019.
Consequences of not filing IT return within the due date :
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Recently Few of them are shocked to see the outstanding Income taxt amount appearining at e-filing portal of income tax deportment.
Income Tax Departmrnt has updated the software to check regulary and clear ur outstanding income taxt amount.
Submit response to Outstanding Tax Demand process step by step:
Step 1: Login to www.incometaxindiaefiling.gov.in and check Refund/Demand status menu.
Step 2: If there is any outstanding tax demand, the “Response to Outstanding Tax Demand” will appear showing demand amount along with A.Y. for which demand exists.
Step 3: You can submit your response by selecting correct option. Option available is
Step 4: If you select demand is correct then you cannot disagree with the demand letter.
Step 5: If you select other options i.e. demand is partially correct or disagree with demand, you will have to provide reasons for exercising the option along with documentary evidence.
Step 6: Based on the reason selected, the assessee needs to provide additional information as below
Step 7: Demand already reduced by rectification/Revision/Appeal: Upload rectification order passed by AO and provide information on date of order, pending demand amount after rectification, etc.
Step 8: Rectification / Revised Return filed at CPC: If you have filed rectification for the demand amount, provide acknowledgement No of rectification application filed online. In case if you have filed revised return, you need to provide e-Filed acknowledgement No of the revised return.
Step 9: Rectification filed with AO: If you have filed rectification application manually to the jurisdictional assessing officer, provide date of filing application.
Once assessee submits the response, transaction id will get generated which can be viewed later.
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Petitioner asks whether he and his wife are residents of Yonkers, as opposed to New York City, for purposes of paying personal income taxes, when the entire physical house in which they reside is located in Yonkers and the front yard is located in the Bronx.