Here is the updated list of Online ITR 2020 deadlines for various categories of taxpayers:
The income tax department has already notified the taxpayers of the late filing of tax returns for 2020-21, along with a penalty of Rs. 5,000, if the return is filed after the due date but on or before 31st December) and Rs. 10,000 in case the return is filed after 31st December to 31st March). The taxpayer has to file the late filing of tax returns for 2020-21 before 31st March in any case. Also, it is important to note that a penalty charge is applicable even if the taxpayer files the returns before 31st March while there is no option to file the returns after 31st March 2020. However, if the taxpayer’s total income does not exceed Rs 5 lakh, then the maximum penalty levied for delay will not be more than Rs. 1000.
Here is How to File ITR:
Register yourself on www.incometaxindiaefiling.gov.inOnce the registration process is complete, select the relevant form and the assessment year, for which the return has to be filed.Keep all necessary documents handy, these documents include bank statement, Form-16, and other investment-related documents.Pay Income Tax due, if any, then recalculate the tax and hit the ‘Submit’ button.Before selecting the final submission, to save the data entered and also cross-check the information to avoid any mistakes.Signature: The Department asks you whether you want to digitally sign your return, if you choose ‘Yes’, then you need to upload your signature, which needs to be pre-registered at the Income Tax website. Those who don’t have a digital signature can verify their return either electronically using Aadhaar OTP or Electronic Verification Code Method or by sending it to Income Tax Department-CPC, Post Bag No – 1, Electronic City Post Office, Bangalore – 560100, Karnataka by ordinary or speed post within 120 days of filing your returns electronically.
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