INCOME TAX RETURN SERVICES
Income Tax Return is the form in when a person files information about his Income and tax to Income Tax Department.
Filing of Income Tax Return:-
A person who fulfils any one of the following conditions should by law file their Income Tax Returns
- Possesses a valid Credit
- Pays for foreign travel, either for himself or another individual
- Is the member of a Club where entrance fees charged is twenty-five thousand or more
- Occupies a particular floor area of an immovable piece of property
- Is the owner of a vehicle
Penalty On Late Filing:-
- Rs 5000 if the tax is filed after the due date of 31st July but on before 31st December of that assessment year
- Rs 10,000 if tax is filed after 31st December but on or before 31st March of the relevant assessment year
