New Delhi. The last date to file income tax return is 31 December 2021. If you miss this deadline, you may have to pay a fine of Rs 5,000. However, there are some taxpayers who can file their ITR even after the expiry of the deadline without any penalty. Let us tell you which taxpayers will get exemption.
Let us tell you that the Central Board of Direct Taxes (CBDT) has once again extended the deadline for filing ITR for the financial year 2020-21 to 31 December 2021. Filing of ITR after December 31 will attract a fine of Rs 5,000.
Will have to pay a fine of Rs 5,000
Filing the return after the date given by the government can attract a fine of Rs 5,000. 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.
Who will not have to pay penalty
Those whose gross total income does not exceed the limit of basic exemption, there will be no penalty for delay in filing ITR. If the gross total income is less than the basic limit of exemption, then there will be no penalty under section 234F for late filing of return.
How to file ITR (e-filing portal): If you want to file your tax return by visiting the e-filing portal, then you can take the help of these steps-
- First of all go to the e-filing portal incometax.gov.in and click on the Login button.
- Now you have to enter your username and click on continue button.
- Now you have to enter your password.
- Now click on e-file tab and click on File Income Tax Return option.
- Select the assessment year 2021-22 and then click on continue option.
- Then you will be asked to choose the option ‘Online’ or ‘Offline’.
- Select the online option and click on the continue tab.
- Now select the option ‘Personal’.
- Individual, Hindu Undivided Family (HUF) or other.
- Click on the continue tab.
- Select either ITR-1 or ITR-4 and click on continue tab.
- The reason for the return will be asked under the 7th provision under section 139(1) or above the exemption limit.
- Select the correct option while filing ITR online.
- Enter your bank account details.
- Now a new page will be sent to file ITR.
- Verify your ITR and send a hard copy of the return to the Income Tax Department.
