Don’t miss your Income Tax Return deadline for 2018

News, Taxation

For those who became tax payers recently, the deadline for filing one’s returns is July 31 for the financial year 2017-18 – which ended on March 31. The financial year is succeeded by its Assessment Year (AY). For FY 2017-18, the AY is 2018-19. There are now clear penalties for being late in your return filing. If you miss the July 31 deadline, you have a penalty of Rs. 5000 levied on you.

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