New Delhi: Tax returns for 2015-16 (assessment year 2016-17) were originally to be filed by 31 July. But in view of the day-long strike at public sector banks, the deadline has been extended to 5 August.
For Jammu and Kashmir, the deadline will be 31 August in view of the ongoing turmoil in the state. "In view of today's bank strike and disturbance in J&K, the due date of IT return filing is being extended," Revenue Secretary Hasmukh Adhia said in a tweet on Friday.
For assessees across India liable to file I-T returns by 31 July, the deadline is extended up to 5 August, he said."For assessees in J&K, this date has been extended to 31 August," he added.
Filing tax returns depends on the source of income, i.e whether one is a salaried person or a company. Further the tax forms are also different; IRT-1, 2 and 2A for a salaried person and ITR-5 and 6 for companies.
Apart from tax forms, another very important document is Form 16 which an individual receives from the company. The form is divided into Part A and B. Apart from Form 16 one should also have bank statements, interest and housing loan certificates (if any) during the time of filing of returns.
Once the various tax return forms have been completed, one needs to the document in the e-filing website. More importantly, for individuals who are not earning more than Rs 5 lakhs, e-filing is mandatory.
On the successful completion of 'e-filing', the individual will receive a receipt which one will have to submit online.