Utility News: Income tax returns can be filed till March 31, 2022!
If you have not filed an income tax return for the financial year 2020-21, then there is no need to worry. You can still file an income tax return even after the last date has passed. The last date for filing an income tax return was 31 December 2021, which is now over. People who could not fill ITR till now due to some reason will now have a chance to fill it with late fee till March 31, 2022.
According to section 139(1) of the Income Tax Act, a person is liable to a penalty under section 234A for not filing ITR within the specified time. Under this, now the billed ITR can be filled up to March 31, 2022 with a fine of five thousand rupees.On income of five lakh rupees or less, the income tax payer will have to pay a fine of one thousand rupees only. Whereas income payers with income less than 2.50 lakh can file ITR return in this time without penalty.