Do not panic if IT return is not filed on 31st December, there is still an option. ITR filing: missed 31 December deadline knows whats option now

The last date for filing Income Tax Return i.e. ITR was 31 December 2021. But if even after the date has passed, you have not been able to file ITR yet for some reason, then there is no need to panic. You can still file ITR.

New Delhi

Updated: January 02, 2022 02:39:14 pm

New Delhi. The last date for filing Income Tax Return i.e. ITR was 31 December 2021. But if even after the date has passed, you have not been able to file ITR yet for some reason, then there is no need to panic. You can still file ITR. Today we will tell you about the same methods, with the help of which you will be able to file ITR for any financial year even after the expiry of the deadline. In this case, you can fill the billed ITR. Obviously, you will have to pay some penalty for filing ITR after the expiry of the deadline. Let us tell you that the last date to file belated ITR for the financial year 2020-21 is 31 March 2022.

ITR filing: missed 31 december deadline knows whats option now

penalty to be paid
According to the rules, there is a provision of penalty for not filing ITR within the prescribed time limit. Late fee has to be paid under section 234F of the Income Tax Act. Under the rules, this late fee can be up to Rs 5,000. It was told that for non-filing of ITR within the prescribed time limit, belated ITR can be filed by March 31, 2022 with a penalty of Rs 5,000.

However, this penalty is fixed on the basis of income. If your income does not exceed Rs 5 lakh, the taxpayer will have to pay a penalty of only Rs 1,000. Along with this, taxpayers whose income is 2.50 lakh or less, then they will not have to pay any fee even for filing late ITR.

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File ITR return on December 31, otherwise there will be a big loss

Let us inform that the last date for filing ITR for the financial year 2020-21 has been extended twice. Due to the second wave of Corona, the last date for filing returns was extended to 30 September 2021. However, after this a technical glitch was seen in the IT portal. At the same time, people also complained about it, then it was extended till 31 December 2021.
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Income Tax Department gave relief to taxpayers, now you can do e-verification by February 28

Giving information, the IT Department said that till the deadline of December 31, about 5.89 crore income tax returns were filed on the new e-filing portal. The special thing is that out of this, more than 46.11 lakh ITRs were filed on the last date or December 31.
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Source: Patrika : India's Leading Hindi News Portal by www.patrika.com.

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