Points to be in mind while Filing Income Tax Return
1. Due date of Filing of Income Tax Return has been extended till 31 August 2015 for the Assessment Year 2015-2016.
2. Maximum amount of deduction available under Chapter VI A has been extended from Rs.1,00,000 to Rs.1,50,000 includes payment for LIP,PF, PPF, NSC,New Pension Scheme etc.)
3. If filing Income Tax Return manually and Total income (Gross Total Income (less) Deduction does not exceed Rs.5, 00,000 then don’t forget to claim relief under section 87A).
4. Deduction available u/s 24 in respect of Interest paid on Self Occupied house Property has been extended from Rs.1,50,000 to Rs.2, 00,000.