For individuals, the due date is generally July 31st. For businesses requiring audit, it is October 31st. These dates may be extended by the government.
GST (Goods and Services Tax) is an indirect tax. Businesses with annual turnover exceeding ₹40 lakhs (₹20 lakhs for services) must register for GST.
Late filing can attract a penalty of up to ₹5,000 under Section 234F. Additionally, interest under Sections 234A, 234B, and 234C may apply.
You can claim up to ₹1.5 lakh under 80C through investments in PPF, ELSS, life insurance, tax-saving FDs, and more.