Have you filed your Income Tax Returns?
Due date for filing Income Tax Return for A.Y 2018-19 in cases where Accounts are not to be audited was 31st July, 2018. Any delay will lead to Late fees of Rs. 1000/ Rs. 5,000/ Rs. 10,000/-(depending upon your Total Income and whether you furnish Return by 31/12/2018 or 31/03/2019). So please hurry.
Also have a look at your Form 26AS.
- Check if any TDS has been deducted on Interest on Bank Fixed Deposit. Show Interest Amount in Income from Other Sources in Return.
- Check if any TDS has been deducted u/s 194C/194J. Ensure you have included Turnover/Receipts for same in Income from Business & Profession.
- If you have changed jobs during the year, include Salary details from both employers in your Return
- If you have Rental Income check whether same is properly disclosed under Income from House Property
- If you have Long Term/Short Capital Gains Check whether they are properly disclosed in Return
- Disclose Exempt Income (Dividend etc) also in Return
- Avail deductions.
- Deposit Self Assessment if required before filing Income Tax Return.
- Choose Proper Income Tax Return Form.
- Little pro-activeness now will make you more relaxed and tension free in future.
CA Anoop Gupta