Taxes: Income Tax Return Filing Deadline And Steps
Please note that some links/details below are prone to changes at the discretion of the Indian central government or service providers as applicable.
Deadline: Last date for filing individual Income Tax Return?
For financial year 2012-13, last date for filing IT return in India was 31st July 2013.
Due date has been extended from 31st July 2013 to 5th August 2013.
Only for assessees residing or assessed in Uttarakhand state, last date is 31st October 2013.
Missed Deadline: One can still file a return with following implications
If you miss filing your IT return by due date or owe any tax after filing your tax return, a penalty interest of 1% will be charged for every month of delay.
An additional penalty of Rs. 5000 is levied if the return is filed after 31-Mar-2014.
Carrying forward of any losses incurred under the head 'Capital Gains' and 'Business Losses' (other than depreciation loss) is not allowed.
If you are entitled to interest on tax refund, you may have to forgo the interest for the period of delay.
Can I talk to someone who can help me in tax filing?
Yes. You may call 1800-425-2229 (Toll free) between 9 AM - 8 PM on all working days.
To assist taxpayers, a call center was set up where agents provide information/updates on the following:
a) Status of receipt of ITR-V.
b) Processing status of e-filed returns.
c) Refund issues.
d) Rectification status.
Who needs to file?
What are the income tax slabs? Who is required to file an income tax return?
Income tax rate slabs: Anyone whose income is within taxable bracket is required to file an IT return. a) Upto Rs. 2 lakh, tax is 0%. b) Rs. 2+ to Rs. 5 lakh, tax is 10.3% minus Rs. 2000. c) Rs. 5+ lakh to Rs. 10 lakh, tax is 20.6%. d) Rs. 10+ lakh, tax is 30.9%. e) Rs. 1+ crore, tax: 33.99%.
Tax Exemption Limits: a) Resident individuals(men/women) with income up to Rs. 200,000(2 lakh) do not pay any income tax. b) For senior citizens (60+ years): 2.5 lakhs. c) For very senior citizens (above 80 years): 5 lakhs.
No 'return filing' exemption to salaried people:In FY12, people earning upto Rs. 5 lakh were exempted from the requirement of filing the return. But there is no such exemption for FY13 onwards.
For details on 'Tax Saving Deductions and Investment Options':Click here
Online tax filing ways
What are the ways of filing income tax return online?
There are 3 ways for filing Income Tax Returns online:
With Digital Signature: In this case, no paper return is required to be submitted.
Without Digital Signature: In this case, ITR-V (single page) form is to be filed with the department.
Through an intermediary: An agent who would do e-filing & also assist in filing the ITR-V Form.
For filing the income tax return online, follow the steps in point 5 below.
If new user, then register by clicking on "Register Now".
Login and select "My Account".
Go to "My Returns".
Select the assessment year(A.Y.) for which you want to download ITR-V form.
Click "Submit", then click on "Click here" button on the screen.
The ITR-V form will be available for download. Save it on your computer.
"Print" to generate printout of acknowledgement/ITR-V Form.
If the return is digitally signed on generation of "Acknowledgement",
- then Return filing process is completed.
- You may take a printout of the Acknowledgement for your record.
If the return is NOT digitally signed, then take a printout and mail to Income Tax Department – CPC,
Post Bag No-1, Electronic City Post Office,
Bangalore-560100, Karnataka. By Ordinary Post or Speedpost only within 120 days of filing electronically.
- This completes the Return filing process for non-digitally signed IT returns.
View refund status. If the status is-
a) Dispatched by speed post- track speed post by clicking on Speed Post Ref. no: starting with EY…'.
b) Mode of Payment is ECS- check your Bank Account for Direct Deposit.
Explore some other "Money and Stock Markets" results below