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ITR: If you could not file till the deadline, then do not take the station, settle the work like this

ITR
Written by bobby
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ITR: If you could not file till the deadline, then do not take the station, settle the work like this

Returns can be filed with penalty till December 31

Returns can be filed with penalty till December 31

Those who have not yet filed their ITR return can file their tax return till 31st December. A late fee can be charged from you up to Rs 5000. If the prescribed total income is within the basic exemption. So no penalty will be levied for late filing of ITR.

Fine may be imposed up to 5 thousand rupees

Fine may be imposed up to 5 thousand rupees

According to the new system, the mill exemption limit for an individual taxpayer is up to Rs 2 lakh 50 thousand. Whose annual income is up to Rs 5 lakh? They will have to pay a fine of Rs 1,000 for filing ITR after July 31. Those who exceed the slap of Rs 5 lakh may have to pay a fine of up to Rs 5000. If a person does not file his ITR return before December 31, then his penalty will have to be paid twice.

Window for submission of hard copy has been reduced to 30 days

The window for submission of hard copy has been reduced to 30 days

Those filing returns after August 1 also do not feel that the income tax department has reduced the window to 30 days for e-verification or submission of a hard copy of ITR-V after filing taxpayer returns. Till now 120 windows were given to e-verify ITR or send ITR-V through post after filing of an income tax return from the date of uploading of ITR.

About the author

bobby

Hi, I am Bobby. Blogger India. I love writing, and reading articles. Blogging is my passion. I have started my blogging career in 2016.

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