@AlliesFin
1. The due date for filing ITR for Assessment Year 2019-20
For the Assessment Year 2019-20, the due date for return filing was 31 July 2019. Many taxpayers believe that if they have paid their taxes, they have no further obligation. However, missing the ITR filing deadline has legal consequences. Effective from the financial year 2017-18, a late filing fee will be applicable for filing returns after the due date.
2. Late Filing Fees u/s 234F
Effective from the financial year 2017-18, a late filing fee will be applicable for filing your returns after the due date i.e. 31 July 2019 under section 234F. The maximum penalty is Rs. 10,000.
If you file your ITR after the due date (31 July) but before 31 December, a penalty of Rs 5000 will be levied. For returns filed later than 31 December 2019, the penalty levied will be increased to Rs.10,000. There is a relief given to small taxpayers – the IT department has stated that if the total income does not exceed Rs 5 lakh, the maximum penalty levied for delay will be Rs 1000.
3. Benefits of filing ITR on time
*Easy Loan Approval
*Claim Tax Refund
*Quick Visa Processing
*Carry Forward Your Losses
*Avoid Penalty and prosecution.
#itr #filling #AlliesFin #tax #saving
1. The due date for filing ITR for Assessment Year 2019-20
For the Assessment Year 2019-20, the due date for return filing was 31 July 2019. Many taxpayers believe that if they have paid their taxes, they have no further obligation. However, missing the ITR filing deadline has legal consequences. Effective from the financial year 2017-18, a late filing fee will be applicable for filing returns after the due date.
2. Late Filing Fees u/s 234F
Effective from the financial year 2017-18, a late filing fee will be applicable for filing your returns after the due date i.e. 31 July 2019 under section 234F. The maximum penalty is Rs. 10,000.
If you file your ITR after the due date (31 July) but before 31 December, a penalty of Rs 5000 will be levied. For returns filed later than 31 December 2019, the penalty levied will be increased to Rs.10,000. There is a relief given to small taxpayers – the IT department has stated that if the total income does not exceed Rs 5 lakh, the maximum penalty levied for delay will be Rs 1000.
3. Benefits of filing ITR on time
*Easy Loan Approval
*Claim Tax Refund
*Quick Visa Processing
*Carry Forward Your Losses
*Avoid Penalty and prosecution.
#itr #filling #AlliesFin #tax #saving
Truth of Online ITR filing through private web portals..
@ALLIESFIN
Dear members,
As all of you know that ITR due date is very close i.e. 31st July 2019 for FY 18-19, I would like to suggest you to not access any web portal for ITR Filing, of course it may be less charging or nil charging but your financials are very confidential to you, there are very high chances of data leakage, till now we all have shared our personal information on various web portals which is also harmful to us but once the financial data being shared with these private portal, you will loose your all confidential details including your bank details.
#ITR #ALLIESFIN #KEEPSAFE
Keep it private, be careful,
have a wealthy day..
🙏🏻
@ALLIESFIN
Dear members,
As all of you know that ITR due date is very close i.e. 31st July 2019 for FY 18-19, I would like to suggest you to not access any web portal for ITR Filing, of course it may be less charging or nil charging but your financials are very confidential to you, there are very high chances of data leakage, till now we all have shared our personal information on various web portals which is also harmful to us but once the financial data being shared with these private portal, you will loose your all confidential details including your bank details.
#ITR #ALLIESFIN #KEEPSAFE
Keep it private, be careful,
have a wealthy day..
🙏🏻
#Govt extends #ITR filing deadline for FY18-19 to November 30 #alliesfin
The Income Tax (I-T) department has extended the deadline to file belated and revised income tax returns (ITR) for FY 2018-19 (AY19-20) to November 30, 2020 from September 30, 2020.
The Income Tax (I-T) department has extended the deadline to file belated and revised income tax returns (ITR) for FY 2018-19 (AY19-20) to November 30, 2020 from September 30, 2020.