5. Avoid penalties and late filing fees The Income Tax Department can impose a penalty of up to ₹5,000 for delayed filing or non-filing of an ITR. An additional penal interest on the unpaid tax liability will also be levied if you're filing return after the due date. ...
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As per the Income tax Return guidelines, the deadline for filing IT return for FY 2015-16 was July 31 but due to PSU bank strike, the last date for filing income-tax returns got extended to August 5 by the Government. In view of the day-long strike at public sector banks on behalf...
all taxpayers in India must pay an advance tax if their tax liability for the financial year exceeds ₹10,000 and no (or less) Tax Deducted at Source (TDS) has been withheld. These payments need to be made in four instalments, and the last date for the payment of t...