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This is a news for the taxpayers or the person who earns any type of Income in India. Income Tax Return is that return where an person or Individual has to show his all earnings of the last Financial year.
Last date for filing of ITR is 31/07/2018 for an individual person.After Due Date there is a penalty of maximum Rs.10000. Penalty on late filing of ITR starting from April 1 2018, if you file your ITR post the deadline of July 31 2018(unless the department extend it), you will be liable to pay a maximum penalty of Rs.10000. As per the new law, a penalty of Rs.5000 will be levied if the return is filed after due date but before 31 December 2018 of that year and Rs.10000 post December 31. However, as relief to small taxpayers, if your income is not more than Rs. 5 Lakh, the maximum penalty levied will be Rs.1000.
Verifying Return is more simple & easy now
- e-verify Return via Netbanking
a. Log in to your Netbanking
b. Click on income tax e filing link provided by bank
c. Click on e verify link against the return to be verified
d. verified - e-verify return via Bank ATM
a. Swipe your bank atm card in bank ATM
b. Click on Pin for e-filing.
c. EVC received on registered mobile no.
d. Login to e filing portal & select option to e verify return using Bank ATM.
e. Enter your EVC on e filing portal
f. Verified. - e-verify return via Aadhar OTP
a. Login to e filing Portal.
b. Link aadhar number with PAN.
c. Generate OTP. EVC is received on registered mobile number.
d. Enter EVC and its verified.