Prajna Capital - An Investment Guide

Some deductions you are eligible for to help you arrive at the right taxable income while filing returns. This time you don’t need to attach any documents to the form. The last date for individuals to file returns is July 31 The time to file the income tax returns is here. July 31 is the last date to file the IT returns for individuals. The returns has to be filed for the previous year - April 2008 to March 2009. So, the transactions should have taken place during that period only. Any subsequent transactions will be taken into account during the next year - 2009-10. An assessee also needs to compute taxes properly and pay off any outstanding dues. This can be done before the date of filing of the returns. It is of utmost importance that one uses the correct form, as is applicable to him. In a radical change from the past, no document (including TDS certificate) should be attached to this form. The officials receiving the returns have been instructed to detach all documents enclosed wi...