If you have deposited all your tax, or your due taxes have been deducted by your employer or you are not claiming a major amount as refund, you need not rush to the income tax office. In fact, if you have no losses to be carried forward too, you need not worry about meeting the July 31 deadline.
You have the option to file your returns by March 31, 2009, without any penalty. Many aren't aware of this. Software engineer Sidharth Masaldaan's company had already deducted his taxes, but he didn't know he could file his returns by March 31, 2009. "It was only a day before I filed my returns that I saw a blog posting that talks about this.
I feel our companies should create more awareness about filing returns," says Masaldaan. "They just distribute our Form 16 and sometimes, hold a session with a financial consultant. But one can't always make the time."
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