Income Tax Department has issued advertisements in leading newspapers advising the Tax Payers to pay their Advance Tax latest by 31st March, 2016. The income Tax authorities have also enabled the efiling of IT Returns for the financial years 2013-14 and 2014-15 to be filed before 31-03-2016. Only 5 days are left to avail the last minute opportunity for late filing of returns. Public in general is advised to avail this unique facility being provided through Samadhan Kender, Near Bikaner Mishtan Bhandar, Rajpura 140401 Punjab well before end of the day on 31st March, 2016. Keep in mind the following points while paying advance tax and filing late IT returns:
- Select the Assessment Year carefully while paying advance tax online. For example the Asstt. Year will be 2016-17 for Financial Year 2015-16.
- Avoid depositing at Bank Counters. Instead prefer to pay taxes online so that your paid taxes get reflected in 26AS immediately. We at Samadhan Kender undertake payment of Taxes online.
- Before filing the returns view your tax credit online at Samadhan Kender so as to rule out mismatch, if any.
- Tax Payers should include the interest in the IT return even if they have filed the form 15G or 15H as Central Board of Direct Taxes (CBDT) vide its press release March 23, 2016 clarified that interest income should be shown in the return of income even in cases where Form 15G/15H has been filed if the earning is not exempt under Section 10 of the Income-tax Act and the total income of the person exceeds the maximum amount not chargeable to tax.