Last ITR filing date 2019-20 until December 31: here is the list of documents and steps to file income tax returns online

Official logo of the Income Tax department

The last date to file the income tax return (ITR) for the fiscal year 2019-2020 (FY20) is December 31, 2020.

Usually the deadline for ITR filing is July 31 of each year, but due to the COVID-19 pandemic, the term has been extended by the Central Board of Direct Taxes (CBDT).

With the ITR filing deadline approaching, taxpayers, who have not yet filed their returns, should do so as soon as possible to avoid any last minute rush or mistake.

According to a report by Business todayIncome tax returns are tax forms that taxpayers must fill out and report their income details to the Income Tax Department. Then the IT department evaluates the amount.

The filing of the return is also mandatory to claim the reimbursement of any additional amount that could have been deducted at source (TDS) and deposited with the IT department.

The income tax return can be filed online on the IT department portal for free.

If a taxpayer does not file the ITR before December 31, 2020, a penalty of a minimum of 50 percent or a maximum of 200 percent of the assessed tax will be applied. The appraiser may also face a prison sentence of up to 7 years and a fine in extreme and high-value cases.

According to a report by The Indian ExpressTo properly file income tax, Form 16 is one of the key documents for salaried people. Employees get the form from their employer and mention details of wages paid and TDS.
Form 16 has two parts: A and B. Form 16 A lists the income tax deducted by the employer in the financial year. It also mentions the details of the employee’s Permanent Account Number (PAN) and the Employer’s Tax Deduction Account Number (TAN).

Form 16 B provides the detailed breakdown of the employee’s gross salary, including the basic HRA.

In addition to salary, a person also receives interest on investments from deposits in savings accounts and fixed deposits of banks and post offices. These institutions issue certificates of interest / bank statements to depositors who can claim the deduction under section 80TTA of the Income Tax Act.

Employees who have not submitted their investment vouchers to save taxes to the HR / Accounts department can submit them to the IT department to claim the deduction. These include premium paid to life insurance (LIC), health insurance receipt, Public Provident Fund (PPF) booklet, FD receipts, mutual fund investment, mortgage loan certificate / statement , the paid donation receipt and the paid tuition receipt.

Steps to file income tax return online:

Step 1: Log in to the official electronic income tax filing website: incometaxindiaefiling.gov.in.
Step 2: Tap New on Electronic Filling if you are registering for the first time; otherwise, click on the registered user.
Step 3: select the type of user.
Step 4: Enter your PAN card details, last name, middle name, first name, date of birth and residential status.
Step 5: Complete the registration form.
Step 6: verify the registry.
Step 7: After successful registration, log in and file your return, providing all relevant documents in the correct format.