ITR for FY 2019-20 (AY 2020-21) Due Date is 30th November.
Importance of filing income tax return
An income tax return is a legal document that stands as your proof of income. Even if you are not eligible for filing a return and are not mandated by the Income Tax department, it is advisable to file your IT return.
Filing income tax returns has several advantages.
- – For a personal or home loan, you will be required to submit your previous IT return documents.
- – Some banks also ask for IT returns for approving credit card requests.
- – For those who are eligible for a refund i.e., if they have paid taxes more than what they are liable to pay– filing an income tax return is mandatory.
Belated Return relating to FY 2018-19 (AY 2019-20) can also be filed upto 30th September, 2020.
NOTE: In case of any query, please feel free to contact me on this email enquiry@overallaccounting.com
