Income Tax Return Filing Date Nears: Here Is How To Do It Online
ITR Filing for AY 2020-21: Individuals having an annual income of ₹ 2.5 lakh or more are mandatorily required to file income tax returns The last date to file your Income Tax return (ITR) for financial year 2019-20 (assessment year 2020-21) is December 31. The Income Tax Department had extended the due date for filing the ITR, to ease the tax-filing process for assessees in view of the coronavirus pandemic. Normally, the due date for filing ITRs for all assessees whose accounts are not required to be audited is July 31. If taxpayers fail to file their returns by due date then the Income Tax department levies late return filing penalty of ₹ 10,000. Individuals having an annual income of ₹ 2.5 lakh or more are mandatorily required to file income tax returns, according to the Income Tax Department's website. For senior citizens (individuals between 60 years and 80 years of age), the limit is ₹ 5 lakh, according to the taxman. Here is how to file your income tax return in three easy st...