Simplified Guide to Income Tax Return Deadlines and Non-Filing Notices

Meeting Income Tax Return Deadlines: For Individuals Not Under Tax Audit: File by July 31st after the financial year. Tax Audit Cases: Deadline extends to September 30th after the financial year. Belated or Revised Return Filing: Missed Deadline? File Belated/Revised Returns by March 31st of the following year.

Consequences of Missing Deadlines: Income Tax Department Notifications: Via email or SMS for non-filers. Example: SMS alerts sent for the 2018-19 financial year. Non-Filers Monitoring System (NMS): Data Collection: ITD gathers financial data from AIR, CIB, TDS, and TCS returns. Analysis and Identification: Algorithms identify non-filers. Notice Issuance: ITD sends notices to non-filers, reminding them of their tax obligations.

Annual Information Return (AIR): Reporting High-Value Transactions: Cash deposits, credit card bills, etc., exceeding set thresholds. Impact on Non-Filers: ITD sends reminders and verifies information for non-filers.

Action for Income Tax Non-Filing Notice: File Return or Submit Response: Log in to the compliance portal, select the relevant campaign, choose response, and provide details. Confirm Information: Validate provided transactions on the compliance portal.