File your returns on time
Finally, ensure that you do not neglect filing returns on or before the deadline on flimsy excuses. While it can be filed after July 31, don’t count on it. “Meeting the deadline will help you avoid any interest that might be levied due to the delay in paying your taxes. Also, if you file returns at a later date, you will not be allowed to carry forward any capital losses incurred. Besides, submitting return on time entitles you to file a revised one later, should the need arise due to errors in the original,” points out Agarwal of KPMG. |
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