Tax Return Dates 2008
November 11th, 2007
Question: how to file income tax return, my income under Rs 50,000 only but i want to file for regularity i m from india?
i do not have taxable income in 2007/08. it only Rs 50,000 by share trading but i want to file return for regularity & contineuty, is there any penalty for delay to file income tax return after the due date 31 july 2008. mind it that there is no rule to force me for return file, its my own desire. is there any penalty to file the return on 3 october 2008, plzzzzzzzz help me. I am from india
thank you,
Answer: You have two options to file your return of income:
*Electronic filing or Online filing
*Filing Paper ReturnFor financial year 2007-08 or Assessment Year 2008-09 the last date was 31st July 2008
U/s 139 if your total income in respect of which you are assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax (i.e. Rs.1,10,000/-) then you should furnish a return of your income during the previous year, in the prescribed form on or before the due date
Therefore it is not mandatory for you to file ITR.
But you can still file ITR till 31.03.2009.
You will not have to pay any penalty.
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