Whatever may be your reason to delay filing your Income Tax Return for Financial Year 2013-14 or Assessment Year 2014-15 – Today is the last day for you to file your return and avoid a Penalty. Are you required to file an Income Tax Return?
Consider these –
- If you fail to file your Return for FY 2013-14 by 31st March 2015 the Assessing Officer (AO) can levy a penalty of Rs 5,000 under section 271F.
- The only way to get a Refund is by filing your Income Tax Return.
- You may need your ITR while applying for a loan.
- Some countries ask for ITR submission proofs when you apply for a visa.