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

If you miss the July 31 deadline, there is a late filing fee of up to Rs 10,000. Also, you cannot file returns beyond March 31, 2019

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 salaried individual files returns after July 31