Mind the changes when filing I-T returns; here is how it may impact you

Taxpayers can start filing returns on the income-tax department’s e-filing website. Last week, the department made all the seven income-tax return (ITR) forms available on its portal. To discourage late filing, the I-T department has introduced late filing fee this year onwards. The last date for filing tax returns for 2017-18 is July 31. The deadline applies to individuals who don’t need to get their accounts audited. For others, the due date is September 30. The Income Tax (I-T) Act has added a new section — 234F — that covers late filing fee.  If a s.....

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