| No need to worry if you have missed the last date of | | | | are as follows - |
| income tax return filing. You still can file your income | | | | You changed job in the financial year. |
| tax return. | | | | Inadequate information provided to the employer. |
| Before that you need to know your income tax for | | | | Wrong tax calculation |
| the financial year. If you are a salaried person, check | | | | In such cases, you have to owe tax to the IT |
| your Form 16. You will come to know how much tax | | | | department. You can still pay tax to the IT department |
| has been deducted by your employer. | | | | before 31st March with a penalty of 1% per month of |
| There are two scenarios - | | | | delay on the taxes due. For example - If you have to |
| No tax to be paid to IT department | | | | pay a tax of Rs 20,000 on your income and you have |
| It means you don't have to pay tax to the income tax | | | | not paid by the due date, you will pay a penalty of Rs |
| department. In this case you can file your income tax | | | | 200 per month post the due date ( in this case July |
| return before 31st March next year. For example - If | | | | 31st). |
| you didn't file tax return on or before July 31st 2010, | | | | It is always advisable to pay your tax before the due |
| you can still file your tax return before 31st March 2011. | | | | date in order to avoid paying penalty and also losses |
| Tax to be paid to IT department | | | | incurred are not carried forward to next year. |
| This may happen because of certain reasons which | | | | |