CBDT – Central Board of Direct Taxes has now extended the last due date for filing of Income Tax Returns to August 31, 2018 as earlier it was by 31st July.
CBDT had notified the new income tax return forms for assessment year 2018-19 on April 5. Experts said the introduction of new forms was leading to delays in filing of returns. CBDT had said non-filing of ITR before the due date from this assessment year would lead to a penalty of Rs 1,000, 5,000 and Rs 10,000, depending on when the returns were filed after the deadline. The fine for taxpayers having income under Rs 5 lakh remained at Rs 1,000.
Here are appropriate ITR for disclosing your income earned during the previous year :-
ITR 1 Sahaj:
Applicable to individuals that are an ordinary resident in India deriving income from salaries, one house property, other sources and having total income upto Rs 50 Lacs. Read More>>>