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Why you shouldn't miss the July 31 income tax filing deadline
July, 30th 2016

The July 31 deadline for filing tax returns is only two days away. If you have not filed your returns yet, you should scramble and do so post-haste as there is a cost attached to not filing your returns on time. If you file your return after the due date and later discover that you have made a mistake in the filing, you will not be allowed to revise your filing. The income tax (I-T) department could also penalise you for incorrect filing. A tax payer is entitled to carry forward his losses from business or profession, capital losses, etc. This will not be ...

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