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Questions and Answers
What is the penalty for late e-filing of tax returns?
What is the penalty for late e-filing of tax returns?
- Fixed penalty of $100
- 5% of tax due per month (correct)
- No penalty
- 1% of tax due per month
What is the deadline for e-filing tax returns?
What is the deadline for e-filing tax returns?
- 31st March
- 31st December
- 30th April
- 15th July (correct)
What is the benefit of e-filing tax returns?
What is the benefit of e-filing tax returns?
- No need to pay taxes
- Faster tax refunds (correct)
- Increased audit risk
- Higher tax rates
What is the maximum income limit for individuals to be eligible for e-filing tax returns in the current tax year?
What is the maximum income limit for individuals to be eligible for e-filing tax returns in the current tax year?
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What is the penalty for providing incorrect bank account details for tax refunds during e-filing?
What is the penalty for providing incorrect bank account details for tax refunds during e-filing?
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Which form should a self-employed individual use for e-filing tax returns?
Which form should a self-employed individual use for e-filing tax returns?
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