To avoid penalty, the revised or delayed income tax return for FY 2019-20 also needs to be filed by 31 March
It’s March 31, 2021, which also means it’s the last day for filing of Income Tax Returns for the assessment year 2020-21.
Last Saturday, the Income Tax Department asked the taxpayers not to ignore the date and added that it was their last chance to file the ITR.
“DO NOT IGNORE THIS! If you haven’t filed your Income Tax Return (ITR) yet, this is your last chance to do so. The last date to file your ITR for AY 2020-2021 is March 31st, 2021,” the Income Tax Department tweeted.
DO NOT IGNORE THIS!
— Income Tax India (@IncomeTaxIndia) March 27, 2021
Businessmen and other professionals:
Besides the salaried class, businessmen and other professionals are also expected to file their ITR today. The tax department had reminded them too. “Attention Businesses and Professionals. If tax has been deducted on your receipts/income, but you haven’t filed your Income Tax Return (ITR), please do so at the earliest,” the department tweeted a few days ago.
Attention Businesses and Professionals.
If Tax has been deducted on your receipts/income, but you haven’t filed your Income Tax Return (ITR), please do so at the earliest.
— Income Tax India (@IncomeTaxIndia) March 24, 2021
To avoid penalty, the revised or delayed income tax return for FY 2019-20 also needs to be filed before 31 March, 2021. Filing the ITR later may lead to the imposition of a late fee of Rs 10,000. But you have to pay only Rs 1000 as a late fee if your income is less than Rs 5,00,000.
Registration process for new users
Many of you will be filing your ITR for the first time and if that’s the case, then you will be required to register yourself first. Go to the ‘New To e-Filing’ section on the website of the I-T department and then click on ‘Register Yourself’.
Select the ‘User Type’ next, and click ‘Continue’. Enter the details it asks for, do the verification of registration and check if it was successful.
You can file your ITR by visiting the official website of the Income Tax Department of India at incometaxindiaefiling.gov.in. If that’s not what you are comfortable with, call on 18001030025 for any queries, doubts or issues that you might face while you are filing the ITR.
Steps to file ITR online:
Step 1: Visit the official Income Tax e-Filing portal, www.incometaxindiaefiling.gov.in
Step 2: Login to the e-Filing portal by entering user ID – Permanent Account Number (PAN), Password, Captcha code and click ‘Login’.
Step 3: Click on the ‘e-File’ menu and click ‘Income Tax Return’ link.
Step 4: You will be directed to a new page, which will have your PAN details auto-populated. Select the ‘Assessment Year’, then the ‘ITR Form Number’, select ‘Filing Type’ as ‘Original/Revised Return’.
Step 5: Under ‘Submission Mode’ select ‘Prepare and Submit Online’
Step 6: Then click on ‘Continue’
Step 7: Read the instructions carefully and fill all the applicable/mandatory fields of the ITR form
Step 8: Under the ‘Taxes Paid and Verification’ tab, choose the appropriate Verification option – a)I would like to e-Verify, b)I would like to e-Verify later within 120 days from date of filing, or c)I don’t want to e-Verify and would like to send a signed ITR-V through normal or speed post to Centralized Processing Center (CPC), Income Tax Department, Bengaluru – 560500, within 120 days from date of filing
Step 9: To once again go through all the data entered in the ITR, click on the ‘Preview and Submit’ button
Step 10: , Next, click on ‘Submit’ the ITR
Step 11: On Choosing ‘I would like to e-Verify’ option, e-Verification can be done through any of the following methods by entering the EVC/OTP when asked for
Step 12: The EVC/OTP should be entered within 60 seconds else, the Income Tax Return (ITR) will be auto-submitted. The submitted ITR should be verified later by using ‘My Account > e-Verify Return’ option or by sending signed ITR-V to CPC
Step 13: View the uploaded/updated ITR