Can't pay taxes through post offices
The government has withdrawn the facility for tax payers to submit income tax returns through post offices, which was introduced last year, and assessees must file returns by July 31.
By PTI |
NEW DELHI: The government has withdrawn the facility for tax payers to submit income tax returns through post offices, which was introduced last year, and assessees must file returns by July 31.
"The decision to accept I-T returns through post offices has been withdrawn, which was taken last year due to extraordinary circumstances of threat of strike by income tax employees," a senior Income Tax official told the media.
The last date for filing income tax returns is July 31 for salaried individuals, self-employed, small enterprises with a turnover of less than Rs 40 lakh and professionals with receipts of less than Rs 10 lakh a year.
"Though tax payers are advised to submit their returns by July 31, but in certain unavoidable circumstances they can submit returns till March 31 provided they have deposited all due taxes," the official said.
However, technically, they can still get a show cause notice from assessing officers, asking why action should not be taken against them for not submitting returns.
In that case, the official said, "tax payers can show their tax deposits and submit returns as well".
If a tax payer fails to deposit income tax by July 31, the last date for filing returns, he will have to pay one per cent interest every month on the outstanding tax.
Referring to withdrawal of facility of post offices, he said many returns did not contain permanent account number and circle name and had a branch code number instead of the banks MICR (magnetic ink character recognition) code.
"The decision to accept I-T returns through post offices has been withdrawn, which was taken last year due to extraordinary circumstances of threat of strike by income tax employees," a senior Income Tax official told the media.
The last date for filing income tax returns is July 31 for salaried individuals, self-employed, small enterprises with a turnover of less than Rs 40 lakh and professionals with receipts of less than Rs 10 lakh a year.
"Though tax payers are advised to submit their returns by July 31, but in certain unavoidable circumstances they can submit returns till March 31 provided they have deposited all due taxes," the official said.
However, technically, they can still get a show cause notice from assessing officers, asking why action should not be taken against them for not submitting returns.
In that case, the official said, "tax payers can show their tax deposits and submit returns as well".
If a tax payer fails to deposit income tax by July 31, the last date for filing returns, he will have to pay one per cent interest every month on the outstanding tax.
Referring to withdrawal of facility of post offices, he said many returns did not contain permanent account number and circle name and had a branch code number instead of the banks MICR (magnetic ink character recognition) code.
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