Last day to file income tax returns is July 31

Last day to file income tax returns is July 31

With the July 31 deadline drawing near, there still may be many who may have yet to file the income tax (IT) returns.

 

Even if there is no income tax that you are required to pay after claiming deductions, you still need to file your tax returns as long as your gross income is Rs 2.5 lakh or more. In case your income is more than Rs 5 lakh, you have to compulsorily e-file your returns.

 

Aside from this, filing your IT returns will get you a tax refund if excess taxes are cut and is also necessary criteria for applying for a visa or a housing loan. Not filing your IT returns could also draw penalties as much as Rs 5,000 and could lead to the IT Department sending a notice.



Steps to e-file tax returns in Filing Mantra are

 

     Visit www.filingmantra.com website.

     Register and Log on to e- Filing application of Filing Mantra.

     Choose the 'self filing' option

     Fill in the relevant details and click on submit.

     Once you’ve submitted it, you will receive the acknowledgement detail through email.

     Click on the link in the email to view or generate a printout of acknowledgement/ITR V form.