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What is the last date for filing income tax returns?

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Updated: Monday, June 24, 2013, 13:05 [IST]
 
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 What is the last date for filing income tax returns?

The last date for filing income tax returns for any assessment year is normally 31st July. So, to file your income tax returns for all income accrued from 1st April 2012 to 31st March 2013, the deadline would be July 31, 2013. It would be called assessment year 2013-2014.

Sometimes the department notifies if the date has been extended. For example, during the last year the date was extended to August 31st. This means that no penalties would be payable for late filing.

Remember it's mandatory to file returns if your income has crossed the taxable limit. Those who have income of Rs 10 lakhs per annum should remember that it is compulsory to file returns in the electronic form. Also read how to file complaint for delay in income tax refund

"e-filing has been made compulsory for the person who is an individual or a Hindu Undivided Family, if his or its total income, or the total income in respect of which he is or it is assessable under the Act during the previous year, exceeds ten lakh rupees for assessment year 2012-13 onwards," the Income Tax Department said last year.

So, it's time you keep all your income tax related documents ready, as there are a few months to go before the deadline.

GoodReturns.in

Topics: income tax
Story first published:  Tuesday, April 23, 2013, 8:33 [IST]
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