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Kotak e-Term Plan is a pure term plan that provides a high level of protection to your loved ones in your absence.
The Kotak Health Shield Plan helps secure your finances in times of sudden medical expenses related to illness such as Cardiac, Liver, Neuro and Cancer (all early and major stages of illness /conditions of Cancer); along with offering protection for Personal Accident - in case of accidental death or disability.
Kotak Lifetime Income Plan gives you the assurance of your income continuing throughout your life and in your absence throughout the lifetime of your spouse!
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Paying taxes is a moral and lawful duty of every citizen of India. If your annual income is taxable, it is expected that you pay it on time every year, or you will face heavy penalties. If you are not aware of the ITR return last date 2019 then this article will help you know that and other important information regarding income tax returns.
In general, the last date for filing your ITR is July 31. The Government of India has extended the deadline to August 31 for the Assessment Year 2019-20.
If you miss the ITR return last filing date for some reason then you will have to pay a significant amount of fees to the Income Tax (IT) Department. If you miss filing the return on August 31, you have time until December 31, 2019, to do the needful. However, you will have to pay a penalty of INR 5,000. On missing that deadline too, you will be charged INR 10,000 as a penalty for not filing ITR, which you will have to pay before or on March 31, 2020.
If you want to avoid the penalty for late filing of income tax, you have to pay it before the deadline. There are many benefits of filing the ITR on time. Here are the ones that you must know about:
You have to pay 1% of interest per month on the tax payable amount. So, if you file the ITR early, you can avoid paying any additional interest, as it is applicable until you submit the return.
If you are eligible for any income tax refund, you will receive it only if you file your ITR on time. You also receive interest on the refunded amount. However, if you do not submit the ITR on time, you are not eligible for it.
If you notice that you have made a mistake while filing your ITR, you can report the error and correct it. Doing this is important to submit an error-free return. However, this benefit is available only when you file the ITR on time.The filing errors cannot be corrected if you submit your ITR after the due date.
Paying any penalty for late filing can be easily avoidable if you are aware of the important dates regarding the ITR. Filing the return is simple as you can complete the whole process online by visiting the Income Tax Return website.
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Kotak e-Term Plan is a pure term insurance plan that provides a holistic life protection at affordable prices. Find out the eligibility criteria, key ...
Know moreKotak e-Term Plan is a pure term insurance plan that provides a holistic life protection at affordable prices. Find out the eligibility criteria, key ...
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