Missed The Deadline Of December 31 Of Filing The ITR? Things One Must Do

Missed The Deadline Of December 31 Of Filing The ITR? Things One Must Do

December 31, 2021, was the last date for recording the Income Tax Return for the year 2020-21 (AY 2021-22). As per the Income Tax Department, 5.89 crore annual assessment forms were recorded on the e-documenting entrance till December 31. The office informed this through their Twitter handle. On the off chance that one misses the cut-off time, they can document a 'late ITR'.

In any case, those recording a late ITR will be needed to suffer a consequence charge to make up for the deferral. The punishment is fixed in the Finance Act. The punishment can go from Rs 1,000 up to Rs 5,000. As per different reports, assuming complete pay doesn't surpass Rs 5 lakh the punishment is Rs 1,000. Individuals beneath the pay of Rs 2.5 lakh per annum are absolved from suffering the consequence charges.

Personal Tax Return: What To Do If You Missed December 31, 2021 Deadline?

If there should be an occurrence of a missed cut-off time, the individual can document a 'late ITR'.

Under segment 234F of the Income Tax Act, the citizen should pay a late charge alongside the ITR.

The punishment can go from Rs 1,000 to Rs 5,000.

Assuming that you have effectively recorded the ITR, you can document an overhauled return without punishment.

The last date for presenting the re-examined return is March 31, 2022.

Nonetheless, many individuals on Twitter have grumbled that because of errors on the gateway, they couldn't record the return.

The public authority didn't expand the cut-off time further as it was at that point situated a few times because of Covid-19.

Image Credit: The Indies Times

 

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