Gear Up For New Ways to File Your Income Tax Returns, 2015
ITR Filing Due Date Extended till Aug 31st, 2015:
Tax paying is a hectic and time consuming job, and in order to give ample time to people to understand the new ITR norms, the due date has been extended till Aug 31st, 2105. This extension of the due date is only because the earlier date of ITR filing was on June 31st but got extended till Aug 31st, so as to make people understand the new norms.
E – Filing Is Compulsory to Avail Tax Refunds:
This rule of compulsory e – filing to avail tax refund has come into picture only with the aim of speeding up the refund issuance. The government has now made it compulsory for taxpayers to e- file their ITR to claim their tax refund. Also, this is with effect from financial year ended on March 31st, 2015. All the refunds will be issued electronically only and no cheque’s for refunds will be issued.
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