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An individual having salary income and no business income must file his return not later than 30th June of the assessment year

Tax returns need to be filed on or before 30th June each year unless mentioned. Most often the filing date is extended, but do not take chances in the hope of dates changing.

* The due date of filing returns by an individual having business income and whose accounts are not required to be audited is 31st August.
* The return should be in the prescribed form.
* It is necessary to file a return to claim a refund of any excess tax paid.

 

Documents needed


* You need to attach documentary support for tax deducted at source, investments or payments made that allow you to claim deductions and tax rebates and employer's certificate in Form 16A.
* The income tax year or assessment year is the year in which income of the previous year is to be assessed. The financial year following a previous year is called the assessment year in relation to that previous year. Thus the assessment year for the previous year 2009-10 is 2010-2011.
* An assessment, therefore, comprises of two stages Computation of total income, and Determination of the tax payable thereon.
* On completion of both these stages, an assessment is said to be made

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

Leave a missed Call on 94 8300 8300

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PrajnaCapital [at] Gmail [dot] Com

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