Income Tax Return- Giving relief to the taxpayers, the central government has extended the deadline for filing income tax returns.
New Delhi. The last date for filing income tax return has been extended to 30 September 2021. Giving relief to the taxpayers, the Central Government has recently increased its deadline. Now if you file your return after September 30, you may have to pay a fine of Rs 5,000. Explain that these rules have been made by the Income Tax Department.
According to the rules of income tax, penalty is also imposed for non-filing of tax return. Along with this, the concerned person has to pay Tax Deduction at Excess Source (TDS). If tax payers do not file ITR within the due date, then they will also have to pay interest on the outstanding tax. In such a situation, the amount to be paid by the taxpayers can be high. If you want to avoid this penalty amount, then file your income tax return before 30 September or by this date.
Will have to pay a fine of Rs 5,000 If the
return is filed after the date given by the government, a fine of Rs 5,000 can be imposed. It is mentioned in section 234F of Income Tax. However, if the income of the taxpayer is within Rs 5 lakh, then the rule is to pay Rs 1,000 as late fine. The amount of fine will increase on earning more than 5 lakhs.
How to file Income Tax Return?
1. To file Income Tax Return, first you have to go to the official portal of Income Tax https://www.incometax.gov.in. Log in to the e-filing portal after entering your PAN details, password and captcha code.
2. After this click on the e-File menu and click on the income tax return link.
3. PAN will be auto populated on the Income Tax Return page, here select Assessment Year, now ITR form number has to be selected, now you have to select the filing type in which to select Original/Revised Return.
4. After this, now select the submission mode in which prepare and submit online will have to be selected.
5. After this click on continue. After doing this read the guidelines given on the portal. Fill your details in all the fields that are blank in the online ITR form.
6. After this, go to the Taxes and Verification tab again and select the verification option according to you. Click on the preview and submit button, verify the data entered in ITR. Lastly submit the ITR.
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