05 Aug 2016 – IT Return Last Date: 7 Do’s & Dont’s you should know
Last date of filing income tax return was 31st July 2016 but it has now been extended to 05th August 2016 by the government. For those who’ve already filed their returns there is no need to worry unless and until you receive notification from IT department asking for more information. Revision may be required when few details were omitted or erroneous information was submitted.
However those who are yet to file return for the assessment year 2016-2017, here are some very important do’s and don’t’s to keep in mind in order to avoid mistake of any form in the last minute.
After you file tax return online, an acknowledgement slip is generated called as ITR-V. Tax payer has to send this slip to the Income Tax Department-Central Processing Center.
- Only use inkjet or laser printer: Many tax payers make mistake of using dot matrix printer for printing their ITR-V form. Never do this and always use inkjet or laser printer. One more important point to note is that the ink color of the printer should be black and not of any other color.
- Use good quality print paper: Due to unavailability of good quality paper, printouts are taken on poor quality paper which results in too light or almost faded print which becomes unreadable to a normal eye. It should be easy for tax authority to identify the details of tax payer.
- Never orientate on watermarks: The only watermark allowed on the ITRV form is of Income Tax Department which is printed automatically on the tax form. No other watermark should be inserted.
- Always sign in original and only in blue ink: The three most common mistakes made by tax payer are – they forget to sign the form or signature is in color other than blue ink or they send photocopy of the signed ITRV form. Signature should be original. Also never sign either on barcode or the numbers below the code. It should be clearly visible to the tax authority.
- Use only A4 size white paper: Tax payer should only use A4 sized white colored paper. Other paper types and formats should be strictly avoided. Also make sure you do not write anything on the back of the paper and do not use stapler on the acknowledgement slip.
- Printing back to back: Never submit original or revised returns which are printed back to back.
- There is no need to submit ITV form of more than one individual in a separate envelope.
Since very limited time is left, you can opt for filing IT returns online by visiting the official website: http://incometaxindiaefiling.gov.in/eFiling/. Just register yourself on the portal and you are good to go.