ITR Filing Deadline Extended: How to File Income Tax Return
The date for the income tax return (ITR) filing for FY2020-21 was extended till September 30, 2021. You can file the ITR till then but many people complained that even when they filed the ITR in early August, they were fined. This fine was not to be imposed before September's ending, so there must be some issue with the portal. The last date for ITR filing was suppose to be July 31 and is what generally is, but this time due to the pandemic and lockdown, the date was extended.
Even when the last date is almost two months away, you should file the ITR at the earliest. It will only cause more chaos towards the end. You can go to the e-portal that was launched recently and do the filing there.
“Free of cost ITR preparation software available with interactive questions to help taxpayers for ITRs 1, 4 (online and offline) and ITR 2 (offline) to begin with;- Facility for preparation of ITRs 3, 5, 6, 7 will be made available,” read the statement for the new e-portal. Detailed FAQs, User Manuals, Videos, and chatbot/live agent also provided for ease of use.
IMPORTANT POINTS TO REMEMBER WHILE FILING ITR
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You can now file the ITR on the new e-filing portal. A new mobile app will be launched soon where you can complete the process more efficiently.
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For an accurate filing, you must select the appropriate ITR form based on the taxpayer's residency status and income earned. Check for the updated ITR form.
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For FY21, the tax department has released JSON, a new utility for pre-filing tax return forms. Only the ITR 1, 2, and 4 tax return forms are available as of now.
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You can choose between new and old tax regimes. Depending on your status and requirement, you can go with the one that is best suited for you. The changes can be made accordingly.
