Regarding ITR

Hello Sir, due to some reasons I forgot to fill my ITR. So, in order to get saved from penalty's please advise how to fill it soon. I'll positively fill it today itself.
Asked 2 years ago in Income Tax from Delhi, Delhi
You can still file your return without penalty. However, the return would be treated as belated return as 31st August has passed. You will not be able to revise it, in case you need.

We are a Delhi based CA firm and can help you to file your return.

Ankit Jain
Ankit Jain
CA, New Delhi
32 Answers
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If you have not filed income tax return till 31st August, and if no additional tax is payable, you can file the same till 31st March 2016 without an penalty and between 1st April 2016 till 31st March 2017with penalty. If some additional tax is payable then you might have to pay additional interest on such tax payable. This interest depends on the delay made by you in months and not on daily basis. e.g. paying additional taxes and filing return any time between 1st September and 30th September does not make any difference so far as your liability for interest is concerned. 

Filing up of Income Tax Form may be simple. However, there are many provisions of income tax which you may not be aware of and may result in to tax liability. It is not like filling up any other application form where you are asked your personal details which you can easily fill on your own. There are some additional disclosures such as exempt incomes, names, PAN  and share of co-owner of the property owned by you etc. 

Some of the factors on which complications in filing Income Tax Return would arise depend on 

1. Whether you are only salaried employee or also doing business. 
2. Whether you have sold any assets such as house, shares, land during the year. 
3. Whether you want to claim more benefits than what your employer has shown in salary certificate. 
4. Whether you have any additional income which has not been shown in your form 16 given by employer.
5. Whether your 26AS shows any additional TDS, whether you own more than one properties,  etc., 
6. Whether you have invested any amount in the name of minor from your taxable income.
7. Whether you have transferred any amount in the name of your spouse and he/she gets some income out of it.
8. Whether you want to claim refund as a result of excess tax deducted.

You are, therefore, requested to contact a Chartered Accountant in practice, who deals with filing of income tax returns and get your returns filed, if you want to be absolutely sure about the correctness of the details of income provided by you in the return.
Sagar Jayawant
CA, Thane
27 Answers
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As a policy income tax department is not invoking any penal action if you file your return of Income on or before
31-03-2016. Therefore kindly do it immediately.
Vijay N. Kale
CA, Hyderabad
248 Answers
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Hello sir the due date of filing is extended upto 7 sep 2015.
Shyam Sunder Modani
CA, Hyderabad
1408 Answers
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Better late than never. File your IT now. You may contact me in case u need any assistance. Department is systems driven. You will start getting notices for non-filing.
Shashank Surana
CA, Chennai
60 Answers
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