Bifalgorithm post

If you're a salaried employee in India, you have exactly 70 days to file your ITR,'t match these, you'll get a notice. This is the number one reason middle class taxpayers panic in October. Step 2, reconcile line by line. I do this every single year. Open both documents side by side. Match every entry with your bank statements and form 16. Found a mismatch? Fix it before filing, not26. If you have a small business with no audit, you get till August 31st. Miss both and it's 5,000 rupees penalty if your income is above 5 lakh rupees plus 1% interest every month on unpaid tax.

If you're a salaried employee in India, you have exactly 70 days to file your ITR,'t match these, you'll get a notice. This is the number one reason middle cla…