31st March 2016 is the LAST DATE to file your income tax return for financial year 2013-14.
If your total income earned between 1st April 2013 to 31st March 2014 is more than Rs 2,50,000 you must file an income tax return.
You must file a return for FY 2013-14 when-
- Your income from all sources – including salary, interest income, any other income i.e. rental or freelancing income exceeds Rs 2,50,000 in total.
- You need refund of excess TDS deducted.
- You need income tax returns to apply for a loan.
- Proof of tax filing is required for applying for a visa.
- Income tax return for FY 2013-14 shall not be accepted after 31st March 2016. You may have to approach your assessing officer to file a return.
More reading – Are you required to file an income tax return in India – here.
Important for FY 2014-15:
- Due date for filing of income tax return for financial year 2014-15 was 7th September 2015.
- However you can file your returns by 31st March 2016 for financial year 2014-15.
- If you file after 31st March 2016, you may have to pay penalty of Rs 5,000 as per section 271F.
(assessment year is 2014-15 for financial year 2013-14)
(assessment year is 2015-16 for financial year 2014-15)