The Due Date of filing your Income Tax Return for a financial year is 31st July (extended till 30th August this year) after the end of the financial year. Thus, for financial year ended on 31st March, 2021, the due date of filing Income Tax Return is 30th August 2021.

– Sign up with TaxfilingIndia.com
– Enter the relevant details or upload your form16. TaxfilingIndia.com generates your return based on this data.
– View your tax computation absolutely FREE!
– Make a payment to TaxfilingIndia.com based on the Filing Plan you chose.
– Authorise TaxfilingIndia.com to efile your Income Tax Return.
– Receive via email the ITR-V.
– e-verify the return or sign and post the ITR-V.

– ITR-V stands for ‘Income Tax Return – Verification’ form.
– This form is received when you e-File without using a digital signature.
– Income Tax Department needs to verify the authenticity of income tax return when filed online without using a digital signature.
– On receipt of ITR-V you have to sign the copy and submit to the Income Tax Department to complete the filing process.

If you discover any omission or any wrong statement in the return filed within due date of filing, you may file a revised return at any time before 31-03-2021 or before the completion of the assessment, whichever is earlier.

The Form 26AS is an annual statement maintained under Rule 31AB of the I-T Rules disclosing the details of tax credit in a tax-payer’s his account as per the database of the I-T Department

A taxpayer may pay tax in any of the following forms:
– Tax Deducted at Source (TDS).
– Tax Collected at Source (TCS).
– Advance tax or self-assessment tax or payment of tax on regular assessment.

The Tax payer can Invest up to 1,50,000 under Section 80C, 80CCC and 80CCD(1)

– A deduction upto Rs. 10000/- is allowed u/s 80TTA on interest from savings bank account. (Upto Rs. 50000/- is allowed in case of senior citizens u/s 80TTB from AY 2020-20)
– Medical Insurance paid can be exempt U/s 80 D -> Upto Rs. 25000 on insurance of self not being senior citizen. Upto Rs. 50000/- on insurance of parents being senior citizens
– Donation U/s 80G (Limit of the deduction depends on donee as specified by Income Tax Rules)
– Rent Paid Exemption U/s 80GG (Upto a Maximum of Rs. 60,000 From AY 2017-18 till now limit is 24,000 is allowed)
– Deduction u/s 80DD of Rs. 75000/125000 based on disability.
– Deduction u/s 80U of Rs. 75000/125000 based on disability.

Filing income tax return is mandatory for every eligible taxpayer in India. However, the government of India has made this process simpler and more transparent by introducing the option of e-filing income tax returns.The documents required are

– Form 16
– Form 26AS
– PAN and Aadhar Card
– Bank Statement
– Home Loan Statement
– Tax saving Proofs