What Happens If You Forget To File Your ITR?
Income tax is paid by every individual who earns above INR 2.5 Lakhs per annum. Post the limit of INR 2.5 Lakhs, each and every individual is liable to pay taxes. It’s also everyone’s duty to file Income Tax returns, even if the tax liability is nil. The last date for filing of Income Tax Return for FY 2019-20 is 31st December 2020. Many people think that if they have paid...
Which ITR form to use for filing returns for AY 2020-21?
When it comes to ITR filing, it gets tricky to choose the income tax return form amidst various options available. Currently, there are seven valid forms to choose from as some of the previous ones have been discontinued or replaced by others. The Income Tax Return forms have to be filled with information regarding the company or individual’s income and tax, which then needs to be...
