Things You Should Know Before Filing Your Income Tax Returns (ITR)
March, 23rd 2018
The last day to file income tax returns for assessment years 2016-17 and 2017-18 is March 31. The Income Tax (IT) department has been issuing some warnings which tax payers should be wary of before filing their income tax returns by March 31, the last to file belated income tax returns. It is also the last day of the financial year, which means that it is the last day to make investments for fiscal year 2017-18, else you will not be able to claim tax benefits in this financial year. Here are the things about which the IT department reminded tax payers:
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1. Avoid last day rush: The income tax department reminded tax payers to not wait for the last day to file their income tax returns. "Please avoid last minute rush and file your income tax return for the assessment year 2016-17 and 2017-18 well before 31st March 2018," the income tax department said on its website, http://incometaxindiaefiling.gov.in.
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2. Phishing mails: "Income tax department NEVER asks PIN, OTP, Password, or similar access information for credit cards, banks or other financial account related information through e-mail or phone calls. Tax payers are cautioned NOT to respond to such e-mails or phone calls and NOT to share personal or financial information," the department said.
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3. How to identify phishing emails? "Check the domain name carefully. Fake emails will have misspelled or incorrect sounding variants of income tax department websites and will have incorrect email headers," said the IT department's website.
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4. What to do if you have received a phishing email: "Do not open any attachment as it may contain malicious code. Do not click any links. Even if you have clicked on links inadvertently, then do not enter personal or financial information such as bank account, credit/debit/ATM card , income tax details etc," said http://incometaxindiaefiling.gov.in.