Besides Aman this may be the story of thousands of employees who may have missed submitting their tax proof deadlines.

Can i submit tax proof after the deadline. You may file after the tax deadline with TurboTax and the CRAs NETFILE service accepts both current year and some prior year returns long after the annual tax deadline. The exemptions and deductions that your employer would have given in your Form 16 if the proofs were submitted can be claimed at the time of e-filing. Usually an employer provides the window between January to.

For example if you filed your extension before the April 15th income tax deadline you then have until October 15th to file. Somehow you not only missed the April 15th tax filing deadline you also missed the October 15th tax extension deadline. On the other hand if an individual has opted for old or existing tax regime then investment proofs must be submitted before the deadline specified by your employer to avoid higher taxes.

This automatically protects you from failure-to-file penalties for six months after the deadline. When planning a test date for eventual language tests please keep in mind that test centers can get quite busy and do. Preserve photocopies of your investment proofs per year.

Individuals opting for new tax regime do keep in mind that the contribution to your NPS account by your employer has been taken into account while computing taxes on your salary. In the event that you ever get audited by the IRS they will ask for proof. You can no longer e-file a 2013 tax return.

Here are three tips to help you submit the necessary tax-saving investment proofs well before the due date. We develop postpandemic strategies such as disappearing financially. If the tax due is more than 210 the penalty is at least 210.

So you should always file and maintain these physical records for 7 years. If you have opted for new tax regime you are not requried to submit any tax saving proofs to the employer. However I-T department can investigate any tax returns for up to 6 years.