Income Tax Returns (ITR) Filing Deadline Ends Today. Ten Things To Know

With the new financial year 2018 set to end today, the income tax payers may seize the opportunity of filing their belated income tax return (ITR) on the last day. From April 1, the tax payers will not be able to file their income tax returns for the years that have now lapsed. Normally, the last date to file the income tax return (ITR) is July 31 for the salaried individuals. However, the belated income tax returns can be filed by the end of March 31 in the next financial year. Which is why, as a last resort, the tax payers are offered an opportunity to file the income tax returns (ITR) before March 31 (Saturday). The income tax (I-T) department has made sure that their offices remain open on March 31 despite the day falling on a Saturday.

(Also Read: Revised Income Tax Returns To Be Filed By March 31: Details, Features Of Permanent Account Number)

E-Filing income tax return online deadline ends. Ten Things To Know

1. For the individuals who have an income from salaries, one house property, other sources (interest etc) and having income upto Rs 50 lakh ought to use the ITR-1 which is available online www.incometaxindiaefiling.gov.in.

2. Those who want to file the tax return must first register themselves on the income tax portal.

3. Those who are filing the income tax return (ITR) must understand that the income/ receipts and expenses/deductions must match with those claimed in the form 16/16A. the differences will lead to delays in processing and /or increased tax liability due to adjustments under section 143(1) (a)

4. In case some income tax refunds accrue then those will be credited to the bank account only.

5. In case you haven't linked the PAN card with the aadhaar, you may do so. However, the CBDT has extended the deadline for the same until June 30.

6. After you file your return, you are supposed to send the ITR V to CPC (Centralised Processing Centre) in Bengaluru for verification through normal post or speed post but not through the registered post or courier.

7. After e-filing income tax return, you may e-verify your return without sending the ITR V. You can do so via bank ATM, net banking, aadhaar OTP, bank account number or demat account number. Remember that you can choose any one of the mediums written above and not all of them.