What Happens If You do not file Your Income Tax Return
Most of us have heard at least a story about someone getting into problems for not paying their income tax return. Everybody thinks that if someone has paid all one’s taxes there isn’t any consequences even if someone misses the tax return filing deadline. This is not true even if all your income taxes have been paid, you would still lose out some benefits if you don’t file your tax return by the due date. Otherwise you might be penalised and fined for not filing IT (income Tax) return properly
The income tax department will send a notice that telling you have to file the tax return soon, and if you still don’t file your income tax return the interest keeps adding up till you pay
Who should pay this IT return ?
You have to file income tax return if your income
RS 2.5 lacs or above,
Rs 3 lacs for an individual over 60 years
Rs.5 lacs for an Individual above 80 years.
As per income Tax Provision.
How to file IT Return online
File your income tax return with us “itrfiling.in” in just 4 easy steps