Income Tax Return
Last date to file
Income Tax return is 31st July 2018 for salary person and other
person who has not required audit under any act for year ending 31/03/2018.
Other than above person last date to file ITR is 30th September 2018
for above period. Every person who require filing Income Tax return require following
documents:
For salary person
(ITR Form 1):
1. ID and password of Income Tax site
2. Copy of PAN card
3. Address
4. Mobile and Email id
5. Bank accounts number and its IFSC of all
accounts
6. Form 16
7. Home loan certificate
8. Income from saving accounts and Fixed
Deposit
Person other than Salary
Income:
1. ID and password of Income Tax site
2. Copy of PAN card
3. Address
4. Mobile and Email id
5. Bank accounts number and its IFSC of all
accounts
6. Form 16 A
7. Home loan certificate
8. Income from saving accounts and Fixed
Deposit
9. Bank statements
10. All invoice and expense related to business
11. Nature of Business
Following amendments
regarding ITR:
Reduction in filing
of ITR: Income tax department has reduced time to file ITR. Now any person
can file ITR at end of one year from financial year. Example for year ending
31/03/2018 assessed can file ITR only till 31/03/2019.
Income Tax Penalties:
Income Tax departments can levy fine
of Rs 5,000 on any person who is filing return after due date i.e. 31st
July or 30th September 2018. SO assessed can file return on or
before 31st July or 30yth September without any fine and till end of
31/03/2019 with fine of Rs 5,000. The penalty can be Maximum of Rs 10,000 can
be levied.
