- Every person having taxable income and whose accounts are not liable to audit must file an Income Tax Return. If total income exceeds Rs. 5 lakh, it is mandatory to file the return online.
- Self-assessment tax liability should be paid before filing Income Tax Return; otherwise return will be treated as defective.
- Always check your tax credit from 26AS before filing Income Tax Return.
- Last date for filing return for salaried/Non-corporate assesses whose accounts are not required to be audited is 31st July, 2014.
- Last date for all Companies and other persons (including working partners of firms) whose accounts are required to be audited is 30th September, 2014.
- E-filing of audit report under section 44AB, 115JB, or 92E of the Income Tax Act is mandatory from 01.04.2013
- ITR return forms are attachment less forms and, hence, the taxpayer is not required to attach any document (like proof of investment, TDS certificates, etc.) along with the return of income.
- Where the Return of income is electronically filed without digital signature, then the taxpayer should take two printed copies of Form ITR-V. One copy of ITR-V, duly signed by the taxpayer, has to be sent to "CPC, Bangalore". The other copy may be retained by the taxpayer for his record.
For more details visit www.incometaxindiaefiling.gov.in