Income Tax Return: As you know that the last date for filing Income Tax Return is 31st December. Meaning you have to file the return within this year. What if you do not file your return within this year? You should also know the answer to this question. If you do not file income tax return in this year itself, then you will have to pay a penalty.
Before knowing how much the fine will be, let us tell you that this time due to Corona and many other problems, the government has given time till 31st December for the returns to be filed usually till 31st July. According to the data received on December 26, more than 4.51 crore taxpayers have filed returns so far. On December 26 alone, 8.7 lakh people have filed ITR.
Releasing the above data, the Income Tax Department has advised people to file Income Tax Return (ITR) soon. If you want to avoid paying penalty for filing return after the deadline, then file your income tax return before December 31.
How much will be the fine
After 31st December 2021, the deadline for filing income tax returns, there will be a penalty of Rs 5,000 for filing returns for the assessment year 2021-22. If you want to file income tax return for the assessment year 2021-22 after March 31, 2022, then you will be able to fill it, but in that case you will have to pay a fine of Rs 10,000.