In case of failure of filing of income tax return within the due date, a belated return can be filed. However a penalty will be charged for the filing of belated returns. Hence it is advisable for timely filing of income tax returns unless in exceptional circumstances. The last date to file ITR for individuals is 31st July of the relevant assessment year and 31st October for taxpayers whose accounts are subject to audit.
This date has been extended for FY to 31st December and 15th February respectively due to pandemic. You can easily e-file your income tax return with Cleartax for free under just 7 minutes. The last day for filing Income tax returns for FY is 31st December for most of the individual taxpayers.
Last date for income tax return filing for taxpayers whose accounts needs to be audited is 15th February These dates were extended due to the ongoing pandemic situation. Filing of return beyond the deadline can attract a penalty up to Rs 10, As the deadline is approaching very soon, it is never a good idea to wait for the return filing deadline. Filing your income tax return has been made easier with ClearTax free e-filing website. Thank you for your response.
Are you a salaried employee? Download link sent. Upload your Form Start investing now or. Was this article helpful? Depending on your annual income, you may be eligible for free preparation support resources, though they're sometimes harder to find than they should be.
CNET Money has prepared a wealth of tax resources to help you , including a series of articles covering the tax season from every angle. These companies can make the tax filing process much easier, from reporting your taxable or self-employed income to setting up direct deposit to going through your itemized deductions.
That noted, the IRS provides a list of free online tax prep software offered by many of those same providers. You can use this service if you meet certain criteria and have a relatively simple tax situation.
This will likely be helpful for people who do not typically have to file taxes such as those on SSI or SSDI, or those who are retired but need to do so this year to claim missing stimulus money.
We've got instructions on how nonfilers can get started filing taxes this year here. If you want to itemize deductions or have a more complex financial situation -- you run a business, have investments or generate rental income -- you'll have to pay for a higher tier of service, which can run a couple hundred dollars.
Still, for most people, even the most deluxe online package is far less expensive than hiring an authorized tax pro. And if you prefer to keep it old-school, the IRS' online tax forms handle some but not all of the calculations for you and still allow you to e-file or print and mail.
Your state tax return deadline was likely the same as the federal return deadline: May Last year, most states extended their deadlines to July 15 to match the federal government's delayed deadline. Many states have their own online tax platforms, which are usually free to use.
Check out CNET's comparison of tax software and services to see which is best for you. This credit would either increase the size of your total tax refund or lower the amount of taxes you owe. We've got full instructions on how to file for a Recovery Rebate Credit on your taxes here. If you typically aren't required to file taxes because you're on SSI or SSDI, you're retired, or you don't meet the IRS' income threshold, but you need to claim missing stimulus money, you will have to file a tax return.
We've got a guide for how nonfilers can get started filing their tax return to claim stimulus money here. How quickly you can expect to see your refund depends on how you file, when you file and which payment method you choose. Filing online and filing earlier usually results in faster processing.
In a normal year, the typical turnaround ranges from one to three weeks, but given the extreme abnormality of the past year, all bets are off. To speed up refunds during the pandemic, the IRS is asking taxpayers to file electronically with direct deposit as soon as possible, so the IRS can deposit your refund right into your bank account. If you choose an e-Collect direct deposit, where your tax preparer's fee is deducted from your refund, it may add a few more days to your wait. A paper check may take several weeks to arrive.
Here's how to estimate your tax refund. If you file online, there's nothing to print out or mail, but we recommend you save an electronic copy for your records regardless. Plus, while most states adjusted their filing deadlines to May 17 or later, not all states did. Check with the state tax agency where you live to find out exactly when your state tax return is or was due. Skip to header Skip to main content Skip to footer.
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