UPDATE: As per the special economic and comprehensive package announced by FM Nirmala Sitharaman on 13th May, 2020, the following measures have been announced with respect to income tax filing during the current AY 2020-21:
- Last date to file all Income Tax Returns for FY 2019-20 has now been extended from 31st July, 2020 and 31st October, 2020 to 30th November, 2020.
Last date for tax audit has also been extended from 30th September, 2020 to 31st October, 2020.
Income Tax Return is a form for reporting gross taxable income from different sources, claiming tax deductions and declaring net tax liability to the income tax authority. ITR is filed to the income tax department by a salaried or self-employed individual, Hindu Undivided Family (HUF), companies or firms. The process of filing the ITR is referred to as income tax filing. A taxpayer can file the ITR online on the e-portal of the income tax department. The process of filing ITR online is referred to as e-filing. The following article will explain important aspects of e-filing Income Tax Returns.
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