In India, what is the last date for filing of income tax returns this year for individuals ?

Question

I have 3 queries
1) What happens if one files the returns late ?
2) Will it have any implications on getting IT refunds if an individual files a late returns?
3) have anyone got IT refund for AY 2005-2006 ?

Answer 1

Hi,
31st July is the last date for individuals.
Simple tax is an online facility wherein you can file your IT Returns individually or through tax consultant who have already registered to us. The system will ask you simple questions which you yourself can answer without knowing the complications of the tax laws, based on which it will calculate the tax figure. After you have gone through all the applicable questions and answered then the system automatically prepares the annual Income Tax return for you. After this if you want to file in your returns personally then you can take a print out and submit the return along with supportings yourself else you can go for the pick up service offered by us wherein we shall take the return to your place get it signed by you, collect the supportings and submit it to the IT department. Finally if we submit the same we shall also send you the acknowledgement of submission which we receive from the IT department.
Please provide with your Contact Number for further relationship

Answer 2

July 31 is the last date! Late return does not matter, esp if you have TDS arrangement! (you have two years time to file the return) You will still get refund, if the asssmnt order so decrees! For year 2005-06,, for some reason, the refunds seem to be taking time: but, interest will be paid, as well!

Answer 3

HI,
1. If you have tax due more than 5000. It will be attract the interest per month.

2. Refund will send as lately including interest . They have right to impose penalty for late filing also.

3.Allmost of the all refunds send by them except late filing returns

Answer 4

Answers:
1. As long as there is no tax due to be paid there is no penalty of non filing.
2. If the return is filed after the due date, it is treated as belated return and refund would not be given
3. Cannot comment on the same as it varies from location to location.

Answer 5

31 october

Answer 6

1. YOU SHALL BE LIABLE FOR INTREST AND PENALTY FOR LATE RETURNS
2 YES
3 YES THOSE WHO ARE UNDER SELF ASSESSMENT AND NOT SELECTED FOR SCRUTINY
REGARDS
KT