Since employers have started sending form 16 to their employees now for the ITR filing for the year 2018. As usual last date for e-filing is 31 July 2018 but it may extend based on the filings done by the date. But I would suggest to finish it by 25th July to avoid last minute hassles and don't wait for extension unless you really need to. if you miss the deadline then there is a penalty for RS 5000 or if you do it by 31 Dec then it is 10000 INR. Now IT dept is quite strict in this so better to finish on time to avoid all these issues.
Income tax filing portal is also updated so I would like to clear few points which will be helpful for e-filing for AY 2018-19.
Income between 2.5 lac to 5 Lac tax slab is 5% which was earlier 10% and rebate amount also reduced from 5000 to 2500 INR.
Check form 26AS and go through the tax statement to verify if all the entries are correct in form 16
This year if you own more than one house then you can not claim home loan rebate more than 2 lac.
There is change in form 1 this year.
If you have linked your aadhar with PAN then you can verify by OTP else you must send signed copy of acknowledgement to Bangalore within 120 days and failure to do so will result as that filing will not be considered and you may be liable for penalty.
Please select correct form for filing and in case you need more information on this please comment. I will help on this.
hope it will help you to file ITR correctly.
Thank you.
