India Extends Income Tax Filing Deadline to August 5th

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India’s Ministry of Finance has extended the deadline for filing IIT in India from July 31st to August 5th

Aug. 1 – “Due to large number of taxpayers accessing the e-fling website on the due date of filing, some cases of taxpayers not being able to access the e-filing portal have been reported. These problems are primarily due to network constraints of the local internet service providers (ISPs). However, as a measure of taxpayers’ convenience, it has been decided to extend the due date of filing of returns from July 31, 2013 to August 5, 2013,” an official release from the Ministry of Finance said.

For the assessment year 2013-14, the Central Board of Direct Taxes had made it mandatory for individuals earning more than Rs. 500,000 (US$31,250) per annum to file their returns electronically. Tax payers can complete the procedure by visiting the income tax department’s e-filing portal.

According to the official communication, the number of individuals opting for the electronic route has shot up this year.

“There is an unprecedented surge in number of returns being e-filed during this year. Up until July 30, over 1 million returns had been filed online, which is 46.8 percent higher than the returns e-filed in the corresponding period last financial year,” the release said.

Using the Official Website
Before you start the process, keep your bank statements, Form 16 issued by your employer and a copy of last year’s return at hand. Next, log on to www.incometaxindiaefiling.gov.in and follow these steps:

  1. Register yourself on the website. Your Permanent Account Number (PAN) will be your user ID.
  2. View your tax credit statement — Form 26AS — for the financial year 2012-13 . The statement will reflect the taxes deducted by your employer actually deposited with the I-T department. The TDS as per your Form 16 must tally with the figures in Form 26AS. If you file the return despite discrepancies, if any, you could get a notice from the I-T department later.
  3. Under the “Download” menu, click on Income Tax Return Forms and choose AY 2013-14 (for financial year 2012-13 ). Download the Income Tax Return (ITR) form applicable to you. If your exempt income exceeds Rs. 5,000 the appropriate form will be ITR-2. If the applicable form is ITR-1 or ITR 4S, you can complete the process on the portal itself, by using the “Quick e-file ITR” link.

Dezan Shira & Associates can assist foreign nationals working in the country file their income tax returns in India. Please contact the practice at india@dezshira.com.

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