Question 1

Who is eligible to file ITR-1?

Accepted Answer

ITR-1 is for individuals having income from salary, one house property, other sources (excluding winning from lottery and income from race horses), and having total income up to ₹50 lakh.

Question 2

What is the last date for filing GST returns?

Accepted Answer

The due date for filing GSTR-3B is the 20th of the month following the tax period. For quarterly filers, it's the 22nd/24th of the month following the quarter.

Question 3

Can I revise my income tax return?

Accepted Answer

Yes, you can revise your ITR within 31st December of the relevant assessment year or before completion of assessment, whichever is earlier.

Question 4

What is the penalty for late filing of GST returns?

Accepted Answer

A late fee of ₹50 per day (₹25 CGST + ₹25 SGST) is applicable for GSTR-3B delay, subject to a maximum of ₹10,000.

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