ITR Filing 2021-22: Those who have not filed returns. They will now have to file ITR with penalty.
ITR Filing 2021-22: The deadline for filing income tax returns has passed. The last date to file ITR was July 31. 63 lakh 47 thousand 54 income tax returns were filed till 10 pm on the last day. At the same time, 4 lakh 60 thousand 496 returns were submitted in the last one hour. In the last financial year till December 31, 2021, about 5.89 crore income tax returns were filed. At present, many people have missed filing ITR.
In such a situation, those who have not filed the return. They will have to pay the fine. Taxpayers who have not yet filed returns. They have to file return with fine. By paying the fine amount, you will be able to file the return by 31 December 2022. It is very important to know that after the last date for filing returns is over, people who have not filed returns. How will they be able to file ITR? Let us know about this in detail.
ITR has to be filed with late fee
If you have missed the date of income tax return. Then you can file ITR with late fee under section 139(4) of the Income Tax Act till December 31. For this, a fine of one thousand to five thousand rupees will be imposed.
Fine will have to be paid
If your annual income is less than 5 lakh rupees. If you have not filed your Income Tax Return, then you can file ITR by paying a fine of Rs 1000. However, if the annual income is less than 2.5 lakhs, then the fine will not be payable.
On the other hand, if the annual income of a person is more than five lakh rupees, then for filing the return, now a fine of up to five thousand rupees will be imposed. He will be liable to tax on the amount of Rs. Interest will also be calculated on that amount. In such a situation, taxpayers will have to pay the amount of late fee, outstanding tax and interest charged for filing ITR by December 31. Those who have not filed their return under 139(1) on time. Now they will have to pay interest at the rate of 1 per cent per month on the tax liability for filing returns.
How to get refund?
If you want to get a refund, you can claim your refund by filing a return with penalty by December 31. If you have not filed ITR by 31st December. Even then refund can be got, but for this an appeal has to be made to the Commissioner of Income Tax of your area. You can be allowed to file the return if your reason is justified.
