Key Deadlines for Income Tax Returns: Avoid Penalties with These Tips
Filing income tax returns (ITR) on time is essential to avoid penalties and stay compliant. Here are the key deadlines you need to know and tips to meet them:
Key Deadlines
- 31st July: Due date for individuals and non-audit cases.
- 30th September: Deadline for businesses requiring audit reports.
- 31st October: Final date for filing audit reports.
- 31st December: Last date for filing belated or revised returns.
Tips to Avoid Penalties
- Organize Documents:
- Keep all necessary documents like Form 16, bank statements, and investment proofs ready.
- Track Income Sources:
- Include all income sources, such as interest, rental income, and freelance earnings.
- Use Online Platforms:
- E-filing portals streamline the process and reduce errors.
- Seek Professional Help:
- Consult tax experts to handle complex cases and ensure accuracy.
- File Early:
- Avoid last-minute rushes that can lead to errors or delays.
The Tax Fusion ensures hassle-free ITR filing, helping you meet deadlines and maximize refunds.
