Tax-time stress: Flood- hit Kerala gets an extension to file Income Tax returns

The flood-hit state of Kerala has got an extension to file income tax returns till September 15, 2018. But we all know that filing ITR can be quite stressful, here are easier ways to cope with them.

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Written By: Aishwarya Iyer | Published : August 29, 2018 9:11 AM IST

The Kerala floods have shaken the country in a big way. Loss of lives and property has left the country rather shocked and sad. In the view of floods that shook the state, the government has provided an extension to file the income tax returns (ITR) to September 15, 2018 from the original date of August 31,2018.

"In view of the disruption caused due to severe floods in Kerala, the Central Board of Direct Taxes (CBDT) hereby further extends the due date for furnishing Income Tax returns from August 31, 2018 to September 15, 2018 for all Income Tax assesses in the state of Kerala who were liable to file their Income Tax returns by August 31, 2018," a notification from ministry of finance reportedly stated.

What is tax-time stress?

Believe it or not, filing ITR is a major cause of stress. Extended working hours, collating data and moreover, filing them in a proper manner calls for a lot of stress. This is also because one mistake or minor error in the filing could make your year's personal or family budget go kaput. Along with these are your constant companions for the season- recurrent viral infection, sleeplessness, anxiety and stress induced health conditions like headaches. Not to mention about your official and household pressures that add up to your worries. There, stay calm with these 5 ways:

  1. Firstly, break down your work. Do not sit down on the last date of ITR and hope to be saved. Start filing your returns early so that there is some cushion time to avoid errors.
  2. Get all your financial records in order before sitting to file your returns.
  3. Do not file returns or details unless you are sure about it or are too stressed. De-stress, keep calm and then file it.
  4. If you are someone with math anxiety (just like many others), make sure you are with someone who knows it well or turn to tax software.
  5. Better money management throughout the year is the best way to track all your finances while filing it.
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