July 31 is typically the last date for filing returns. However, those who missed this deadline can file their returns by March 31. Belated returns can be filed on or before two years from the end of the relevant tax year.
The retail investor or consumer will be quite confused after the Union Budget 2015-16. While there are no apparent tax benefits, in terms of higher basic exemption limit, increasing tax slabs or even the 80C limit, the finance minister has told us that
The impact of the Union Budget 2013-14 will be felt by taxpayers in the coming couple of weeks. The good news is that there will be more saving but only if you are aware of the increased benefits under different sections of the Income-Tax Act.