Watch This If You’ve NOT Filed Your Income Tax On Time
Автор: Finance With Sharan
Загружено: 2022-09-12
Просмотров: 1688373
Описание:
July 15th was my birthday, and 15 days later I’m supposed to pay a bomb to the Income Tax department for all the money I made through Instagram.
Cro... I mean Lakhs of rupees left my bank account. If you think typing the OTP for an INR 800 movie ticket is painful try doing it for xxx Lakhs.
But what if you forgot to do it on time. 😒
Well, then you pay a penalty of INR 5,000 and interest rate of 1% per month for pending dues.
But let’s say you have genuine reason. You were ill or lack funds due to financial troubles, or were simply not aware that you’re supposed to do e-Verification after filing income tax, then you can put a ‘Condonation Request’ on the income tax portal.
If your request is accepted and the reason is genuine then they will forgive the penalty.
If you have a CA, this is not a problem because they will do it for you. If you’re doing it by yourself, like most of you out there, don’t forget to do the e-Verification.
Without doing it, you are considered to have not filed the income tax. It will be difficult for you to get Visa for USA and Europe without having IT returns.
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#financewithsharan #incometax #tax #taxes #incometaxindia #savemoney
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