It is mandatory to file the income tax return by the allotted deadline to avoid penalties. Some of the latest deadlines for filing the income tax returns in India are delayed and extended from 31 July to 30 November 2020.
Yes, you can file your income tax return voluntarily regardless of your income not crossing the limit of the income tax slab.
Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP) and Body of Individuals (BOI), other firms and companies are mandated to file an income tax return. Although, each tax slab has different tax rates. However, for income tax in India, there are four tax brackets:
There is no such requirement to attach any documents with the income tax return. However, it would be better to retain documents to produce before any authority in case it is required.
Yes, disclosing all sources of income including the income exempted from income tax is mandatory.
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