If you have not filed ITR yet, then there is no need to panic, you have one option left. That is, you can still file ITR. Let us know how you can still file your ITR.
The last date for filing an income tax return was 31 December 2021. The department was also continuously appealing to the people to fill the ITR. But if you have not been able to file ITR even after the last date has passed, then you do not need to panic. Actually, you still have the option to file ITR. Let us tell you about these ways by which you will be able to file ITR for any financial year even after the expiry of the deadline.
You can file a belated ITR after the last date has passed. However, you will have to pay some penalty for filing ITR after the expiry of the deadline. But let us tell you that the last date for filing belated ITR is also. The last date to file belated ITR for the financial year 2020-21 is 31 March 2022.
What are the rules?
According to the rules of the Income Tax Department, you will have to pay a penalty for not filing ITR within the stipulated time frame. Late fee has to be paid for this under Section 234F of the Income Tax Act. This late fee can be up to Rs 5,000. If you have also not filed ITR within the stipulated time frame, then you can file a belated ITR by March 31, 2022, with a penalty of Rs 5,000.
How much fine to be paid?
This penalty is decided by the Income Tax Department on the basis of income. For example, if your income is Rs 5 lakh, then you will have to pay a fine of only 1,000. At the same time, taxpayers whose income is 2.50 lakh or less, then they will not have to pay any fee or penalty even for filing late ITR.
The date was increased twice earlier
However, earlier the last date for filing ITR for the financial year 2020-21 was extended twice. Actually, due to the second wave of corona infection, the last date for filing returns was extended to 30 September 2021. But then there was a technical glitch in the IT portal. After which, the last date for filing ITR was extended till 31 December 2021.
Income Tax Department gave information
The Income Tax 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. That is, most of the people had filed ITR on the last date itself. However, if you have not filed ITR yet, then hurry up.
