Income tax Return

  Income Tax Return filing in India Every assessee in India are required to prepare and file their Income Tax return for the income earned in the financial year on or before the due date prescribed under the Act. Income tax return filing is an annual affair and is major source of revenue for the government as all the assessee has to make final computation of their tax liability and pay the same to the government before or at the time of their Income Tax Return filing if already they have not made full payment of tax by way of advance tax or TDS. Normally, for an individual and HUF assessee, the due date for filing the tax return is 31 st July every year. Also, the due dates for company assesses are 30 th October. However, for those company’s on which transfer pricing provisions are applicable, the due date is 30 th November. However, at the time of COVID pandemic or some other unforeseen circumstances, CBDT may also extend the due date of tax return filing. For instance, dur