The Due date for Filing ITR is normally 31 st July in case of Non Audit Cases. NGO’s running in the form of Society/ Trust/ Section 8 company are also need to file ITR before due date to claim benefits of Section 11 & 12 However, individuals with income below the specified limit can also file ITR voluntarily to claim refunds or for other purposes. In case of Partnership Firm and company it is mandatory to File ITR in case of Loss also. It is mandatory for individuals, Hindu Undivided Families (HUFs), and businesses whose income exceeds the specified limit to file Income Tax Return. Selecting wrong ITR form may create problem, so be careful while selecting ITR Form. The type of form that a taxpayer needs to file depends on their status and the nature of their income. The different types of ITR forms are ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6, and ITR 7. On annual basis, we categorized our incomes according to these head and file our returns according to specified sections. In India, Income is taxable under these Sources, Income taxable under the head Salary, under the head House Property, under the head Business or Profession, under the head Capital Gain and under the head Income from other sources. Consequences of Non-Filing Income Tax Return.
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