Haven’t filed ITR yet? Know if August 31 is your deadline and 6 key things to check
August 31 is here, and so is the ITR deadline for certain taxpayers. If you haven’t filed yet, here’s who needs to act today and what to check.
An Income Tax Return (ITR) has to be filed with the Indian Income Tax Department to report income received in a fiscal year, along with taxes paid and refunds received. Persons, firms, Hindu Undivided Families (HUFs), and others are compelled to submit ITRs under the Income Tax Act of 1961.
Apart from enabling the claim of refunds for non-paid taxes and tax compliance, the filing of an ITR is used as proof of income for purposes like loan and visa applications. The majority of individual taxpayers are required to file by July 31 of the assessment year, but extensions can be granted.
Form 16, Aadhaar card, and other documents of income can be filled online via the official e-filing portal. Based on the category and income source of the taxpayer, various ITR forms (ITR-1 to ITR-7) are required. Late submission can attract penalties and interest.
With the pre-filled forms, fast PAN services, and AI-based authentication, the Income Tax Department has facilitated the filing process through digitization. Taxpayers must also take note of new regulations concerning capital gains, exemptions, and deductions that are put into place every fiscal year.
August 31 is here, and so is the ITR deadline for certain taxpayers. If you haven’t filed yet, here’s who needs to act today and what to check.
YouTube payments, freelance fees and brand collaborations can make tax filing complicated. With August 31 around the corner, here's what creators and freelancers should check before submitting their ITR.
Allegations of private firms accessing and commercially using sensitive ITR and EPFO-linked data have raised fresh questions about privacy, consent and safeguards.
The Central Board of Direct Taxes has notified the Foreign Assets of Small Taxpayers–Disclosure Scheme (FAST-DS), 2026. It has also issued detailed FAQs explaining the scheme and how taxpayers can use it.
For taxpayers covered by the August 31 deadline, filing the return early can help avoid last-minute technical issues and ensure there is enough time to check income and tax details before submission.
The Income Tax Department has released the Excel utility for ITR-6 for the Assessment Year (AY) 2026-27, allowing eligible companies to start preparing and filing their returns.
Many taxpayers are hoping the July 31 ITR filing deadline will be extended, just as it was last year. But should you wait for an announcement or file your return today?
Haven't filed your Income Tax Return (ITR) yet? Here's how much you could end up paying if you miss the July 31 filing deadline.
If you have not filed your Income Tax Return (ITR) yet, today is your last chance. Before you hit submit, make a few essential checks to avoid mistakes, delays and possible penalties.
F&O transactions are treated differently from investments in shares. Under the Income Tax Act, income or loss from eligible F&O trading is treated as non-speculative business income, not as capital gains.
Do you really need to file your ITR by July 31? The answer depends on the type of income you earn and the return form you're required to file.
With the ITR filing deadline just around the corner, now is the time to file your return if you haven't already. Follow these 10 simple steps to file your ITR online quickly and correctly.
As the clock ticks down to the July 31 ITR filing deadline, many taxpayers are holding out hope for an extension. But is one really on the cards? Let's find out here.
Can you really wrap up your ITR filing in just 10 minutes? The answer depends on how simple or complicated your financial situation is.
Thinking of filing your ITR after July 31? Are you aware of the penalties, interest and other setbacks that may follow? Let's have a look.
With over four crore ITRs already filed, the last-minute rush has begun. Before you file your return, make sure you've checked these important details to avoid costly errors.
Tax experts say an extension of the July 31 ITR filing deadline looks unlikely this year. Timely form releases, staggered due dates and a stable portal have reduced the case for relief.
Filing your ITR before the deadline is important, but filing it correctly is even more important. These three last-minute checks can help you avoid costly errors.
Did you log into your Annual Information Statement (AIS) and notice your foreign bank account or overseas investments listed there? Wondering how the Income Tax Department got those details and what it means for your ITR filing?
In a written reply in Parliament, the government said that while some users may experience occasional delays during periods of heavy traffic, the portal has remained largely stable despite a significant increase in the number of taxpayers using it this year.
Here are a few important things that first-time tax payers must know before filing their income tax return.
Presenting the Union Budget 2022, Finance Minister Nirmala Sitharaman announced that taxpayers can now update I-T returns within 2 years. "To provide an opportunity to correct an error, taxpayers can now file an updated return within 2 years from the relevant assessment year" said the FM.
Finance Minister Nirmala Sitharaman on Monday announced exemption from filing Income Tax return for senior citizens above 75 years.
The Financial Year 2019-20 closed on March 31 and the new FY 2020-21 will begin from April 1. In wake of the 21-day lockdown, the government has extended the deadline for filing income tax returns for the FY 2018-2019 to June 30. In the Union Budget presented in February 2020, the government has made some changes to the income tax rules. Watch the video to find out.