Heena Sharma Blog

Filing Income Tax Returns (ITR) can be a tedious task. Before filing ITR, you will need to create an e-filing account on the Income Tax website, incometaxindiaefiling.gov.in and register yourself. Registration will be completed after you click the activation link sent via e-mail and enter the provided one-time password (OTP) received on your mobile. Click on 'Registered User' if you have already registered yourself on the website. Important note: The income-tax department has extended last date of filing ITR, which is now August 31. Here's a step-by-step guide to filing Income Tax Returns (ITR): A. Keep essential documents with you Collect documents such as Form 16, salary slips, and interest certificates and Form 26AS. Keeping them handy will help you compute your gross taxable income and will provide you with the details of tax deducted at source (TDS) from your income in 2018-19. B. Get Form 26AS: You can download Form 26AS from the TRACES website. To dow...

If you have received a notice for not filing income tax returns within due date, you might want to pay heed to it. In what could probably be the first such instance, a director of Mumbai-based firm Ms Shah Time and Jewels was sentenced to jail for three months on Wednesday for not filing income tax returns within the due date for the assessment year 2014-15, according to The Times of India. When repeated notices sent to the firm and its director Paresh C Shah did not elicit any response, the deputy commissioner of Income Tax on November 22, 2017, filed a show cause notice seeking an explanation as to why sanction for their provision should not be given under the Income Tax Act. After that also went unanswered, a complaint was filed against Shah and the firm. The Ballard Pier magistrate court rejected Shah's defence of 'lack of knowledge' and held him and the firm guilty of deliberate non-compliance. The court observed that imprisonment under the Income Tax Act wa...