Sheetal TAX Advisory

16/11/2020

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02/08/2018

However, as relief to small taxpayers, if your income is not more than Rs 5 lakh, the maximum penalty levied will be Rs 1,000. Apart from penalty on late filing of ITR, if you make a mistake while filing for FY2017-18, then you would have time till 31 March, 2019 to file your revised return.

02/08/2018

The deadline of July 31, 2018, for filing income tax return for FY 2017-18 has been extended by one month to August 31, 2018. Unlike earlier years, a penalty of up to Rs 10,000 is leviable for filing income tax return for FY 2017-18 beyond the due date for most individuals.

01/08/2018

31/07/2018

Late Filing Fees

Effective from the financial year 2017-18 a late filing fee will be applicable for filing your returns after the due date i.e. 31st August 2018. The maximum penalty which can be charged is Rs. 10,000. If you file your ITR after the due date (31st Augist 2018) but before 31st December 2018, a penalty of Rs 5,000 will be levied. For returns filed later than 31st December 2018, the penalty levied will be increased to Rs 10,000. There is a relief given to small taxpayers – the IT department has stated that if the total income does not exceed Rs 5 lakh, the maximum penalty levied for delay will be Rs 1,000.

31/07/2018

Late Filing Fees

31/07/2018

Should we link Aadhaar card with the PAN card.

31/07/2018

How to link PAN Card with Aadhaar Card on Income Tax Department e-Filing portal before August -2018

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31/07/2018

Ready for Penalty after 31st August 2018.