For individuals [not subject to tax audit provisions under Income-tax Act, 1961 (‘the Act’)], the income tax return (ITR) filing deadline for Financial Year (FY) 2020-21 (Assessment Year 2021-22) has been extended from 31 July, 2021 to 30 September, 2021 owing to the ongoing COVID-19 pandemic.
Who is eligible for tax payer?
According to the Income Tax Act, it is mandatory to file income tax returns if: If your gross total income is over ₹ 2,50,000 in a financial year. This limit exceeds to ₹ 3,00,000 for senior citizens and ₹ 5,00,000 for citizens who are above 80 years.
What is the last date for ITR 2020 21?
New Delhi: Income Tax Return (ITR) Filing last date has been extended from July 31, 2021 to to September 30, 2021. The central government had announced that the deadline for filing ITR for Financial Year 2020-21 was extended due to prevalent Covid pandemic situation.
Do you have to file income tax return if you have not?
The Taxpayer has to mention whether he has filed Income Tax return or not, if he has filed, then he needs to mention the Return filling date, Acknowledgement No., Circle/ Ward and whether online or paper form. If return is not filed then the reason for non-filing is required to be given.
What happens if you dont file your taxes by April 15?
Here are some things taxpayers in this situation should know: 1 Penalties and interest are only added on unfiled returns if the taxpayer did not pay taxes by the April deadline. 2 IRS Free File is available on IRS.gov through October 15. 3 Some taxpayers may have extra time to file their tax returns and pay any taxes due.
Do you have to file your tax return on form 26as?
The onus of filing correct returns is on the taxpayer. If the employer has deducted tax, it must show up in your Form 26AS. If it does not, either your PAN was not correctly mentioned or the employer did not deposit the TDS.
What to do if you have not received your income tax refund?
Do keep in mind that your bank account must be pre-validated on the e-filing website of the income tax department to receive the tax refund. Now, if for some reason you have not received the refund amount, then you can raise a service request on the e-filing portal. Also read: How to file ITR? Here’s the complete guide