Income Tax Return : Let us know who are those works which have to be settled before 31st July

Let us know who are those works which have to be settled before 31st July :

  • Full details of income paid by the investment fund in the financial year 2020-21 will have to be given in Form No. 64C before the end of this month.
  • According to the statement issued by the Ministry of Finance, the employees will have to submit the certificate of deduction of tax at source in Form No. 16 on or before July 31.
  • According to the statement of the Ministry of Finance, before July 31, give the information to be given under Form No. 15CC. In this, the details of the quarter ended June 2021 have to be given.
  • If you have not yet given the information about the Equalization Levy Statement for the financial year 2020-21 under Form No. 1, then complete it by July 31.
  • The information to be furnished under sub-section (5) of section 9 by the eligible investment fund of Form No. 3CEK for the financial year 2020-21 will have to be furnished by 31st July.

Due Date Extended for ITR Filing of FY 2020-21 But Still You Have to Pay Interest. Know When and How Much

Due date for individual income tax return for the FY 2020-21 (AY 2021-22) has been extended to 30th September, 2021 by the CBDT. Hence, the returns of income which are required to be filed by 31st July, 2021, can be filed upto 30th September, 2021.

However, Tax filing comes with Tax payments and with that comes Interest levy under section 234A/B/C. This interest component and it’s impact gets ignored many times while doing tax estimations and calculations. However, later it has a great impact in amplifying the final tax payable amount.

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