Things to know while filing ITR | Fusion - WeRIndia

Things to know while filing ITR

Things to know while filing ITR

he Finance Ministry stated that there are no plans to extend the deadline to file Income Tax Returns. The government says that today is the last date to file IT returns.

Many people are facing troubles to file their IT returns due to linking of Aadhar with their PAN card as even a minor difference would not permit them to do so.

Some people do not have Aadhar cards to link with their PAN. In such cases, they have to apply for Aadhar and mention their enrolment number in the ITR.

Today, the Income Tax website server is down since the morning. In this situation, several people are getting panic. However, IT Department stated that there is no fine for late filing this year. Yet, it is better to file your on time if everything is fine.

If you do not file your income tax returns you cannot carry forward your losses to the next assessment year. You can also get your TDS refund if you file on time returns.

Now, the date to file IT returns has been extended to August 5 this year.

Here are certain points you have to keep in your mind while filing your IT returns:

Everyone whose income exceeds the minimum slab should have to file IT returns. In other words everyone below the age of 60 years whose income exceeds ₹2.5 lakh and ₹3 lakh for individuals with age of 60 years or more and ₹5 lakh for individuals with age of 80 years or more should file income tax returns.

Check 26AS form before filing your tax return to know your TDS amount.

If anyone deposited above ₹2 lakh between November 9 and December 30, 2016, they should fill a separate column in ITR.

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