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Income tax e filing 2019-20 has become easy as the Indian government introduced an online method of filing. One can download all the necessary documents from the online portal (ITR official website, TRACES website) and register there for e-filing income tax. For detailed and accurate information, consult an income tax consultant near you as there are different income tax return forms for different purposes, and you have to choose the correct one.

The previous date of filing ITR for AY 2019-20 was 31st July 2020. But ITR due date was extended by the Indian government to 31st December.

Yes, in an attempt to give relief to income taxpayers, the Indian government has extended the due date of income tax return e filing.

One can easily check details about his/her income tax return through the official e-filing portal. Go to www.incometaxindiaefiling.com and do as follows -  log into your account and click on 'My account menu.'


* Click on e-filed returns/ Forms
* then select the applicable option from the dropdown menu
* click ‘submit’ and view details of the income tax return or forms.

Yes, it is very much compulsory to file your income tax return. If someone avoids filing ITR, then it will attract a penalty up to Rs. 10000 and legal actions could be taken against you. Filing income tax returns not only increases your chance of getting a loan or a VISA but also give you the ability to carry forward losses into the subsequent financial year.

Yes, you can file your income tax return yourself in two different ways. One is to register on the official ITR e-fling portal and downloads the applicable forms and fill them correctly then save it and upload to complete the process. The other option is to file the Return Online.

The income tax varies accordingly to your income. The different slabs of ITR percentage are discussed in the following table.

Income

Percentage of Tax

Rs.2.5 lakhs to Rs. 5 lakhs

5%

Rs.5 lakhs to Rs.7.5 lakhs

10%

Rs.7.5 lakhs to Rs.10 lakhs

15%

Rs.10 lakhs to Rs.12.5 lakhs

20%

Rs.12.5 lakhs to Rs.15 lakhs

25%

 

You have to file an income tax return electronically. There are some important documents and Forms which you have to prepare. Form 26AS and Form 16. In Form 16, there are two parts, section A and section B; the employer has to fill both accordingly. There are different IT forms according to individual/ business/company type and source of income, and choosing the correct one is very important. You will need your PAN card, Aadhar card, bank statement, TDS certificate, proof of investments, etc. for more details contact income tax consultant for e-filing income tax.

You can check your income tax e filing status online through ITR official website. First, you need to visit www.incometaxindiaefiling.com and find 'ITR status' on the left side menu. Then click on ITR status and a new window will appear. In the new window, fill your details like name, PAN number, Acknowledgment number, and captcha. Click submit to view every detail and status of your Income-tax e-filing.

You are subjected to pay the penalty in case you miss the due date of income tax efiling. According to section139 of the Act, 1961, if a taxpayer fails to furnish the income tax details on or before the due date has to pay the penalty. The amount of penalty can range from 1000 – 5000 and 10000 in other cases.

It is possible for every taxpayer, whether it is an individual, company or others can avail the benefit of online ITR filing. There are no restrictions mentioned by the Indian government about who can and cannot file an income tax return. Depending upon the source of income, the tax filing expert will calculate the nearest figure that will match the income and cover every aspect of your income.

In case you do not have a positive income and faced loss in a financial year, that if you want to carry forward to the subsequent year for adjustment, you have to file an income tax return and claim your loss.

The due date for income tax return filing has been extended to 31st December with certain exceptions for 31st January for everyone.

For the COVID-19 pandemic, the Indian government has decided to extend the due date for filing the Income-tax return in order to give relief to taxpayers. The due date for individuals/ association/ HUF where no auditing account is needed, is December 31st, 2020. For individuals/associations/ HUF where an audit account is needed, the due date is extended to January 30th, 2021.

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