What happens if you miss the ITR filing deadline? Find out

THE ECONOMIC TIMES Wed, Aug 28, 2019 | 12:21 PM IST ITR filing guide

What happens if you miss the ITR filing deadline You can file a belated ITR before the end of the relevant assessment year. However, a penalty will be levied. Made a mistake while filing ITR? Here's how to correct it Section 139(5) of the I-T Act states that after filing their return, if someone discovers any omission or wrong statement, he can furnish a revised return. Now verify ITR without logging in to your e-filing account It is mandatory for the taxpayer to verify ITR within 120 days of filing the tax return. Forgot to verify your income tax return? Here's help An ITR filed but not verified is treated as an invalid return by the department. It would mean that you have not filed the ITR for a particular assessment year. How to check income tax refund status If you have filed your income tax returns with a refund request, here is a step by step guide for you to track the refund status due to you. How long do you have to keep your tax related documents? Documents such as rent receipts, section 80C tax saving documents etc. which prove the claims made by you in your tax-return are advised to be kept safely. How to check income tax return status During processing the department checks if there are any discrepancies between the income declared and the tax paid by you and the data available to them. Seven interest incomes you might miss including in your ITR While most tax payers are aware that interest income is taxable, there are a few types of interest income that they are likely to forget to include. How to correct mistakes made while paying income tax While depositing self-assessment tax or advance tax during the year, you may have selected the wrong assessment year which could lead to a discrepancy. 8 common mistakes to avoid when filing ITR The deadline to file income tax returns has been extended to August 31, 2019.

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