Last date of Income-tax return for individual
Last Updated 30th December 2020
The Govt of India announced the last date for filing the income tax return. The due date had been further extended to 10th Jan 2021.
Last Updated 30th September 2020The Govt of India on May 13, 2020, announced the last date for filing the income tax return. The due date had been extended from usual July 2020 to 30th November 2020. The same was announced via press conference by Nirmala Sitharaman, the Finance Minister of India.
What is the Income Tax return?
When an individual file for an income tax return, he/she is declaring the income earned in the respective financial year. ITR is a simple one-page form to be filed by those who have the income up to 50 Lakhs. Both offline and online medium can be used to file for the Income-tax return.
Understanding Income Tax Return for individuals
The last date of Income Tax for an individual is the date when the return is filed with no penalty or delay charges. But if an individual gets its delayed, the penalty under section 234F and interest under section 234A is levied. Different categories are listed, and the due date for Income Tax retun filing also varies accordingly.
As a final note, you must have understood how important it is to file for return, so if you have not, please do it now!