ITR Filing: You can file ITR even after the last date, know what are the rules
Highlights
- Last date for filing ITR is over
- Fine amount from 1 thousand to 5 thousand will have to be given
- The total number of income tax returns has crossed 5.73 crore
ITR Filing, The last date for filing ITR is over. The time till 10 pm on July 31 was given by the government. Those who have not yet filed their ITR. Can he file ITR without paying fine? Will they have to pay a fine of 1 thousand to 5 thousand? How can you file ITR without filing fine? What does the rule say about this? We are going to tell below.
What does the rule say?
If you have not filed your ITR yet and your income is less than 2.5 lakhs, then you can file your ITR without paying any penalty. According to experts, under section 234F of Income Tax, if a person’s income in the financial year is less than 2.5 lakhs, then there is no difference in filing his ITR and if he wants to file then he can also file late. Also, if your age is more than 60 years and less than 80 years and your income is up to three lakh rupees, then you also get exemption from the government. On the other hand, if your age is more than 80 years, then you do not need to file any kind of ITR till Rs 5 lakh.
More than 63.47 lakh returns filed till 10 pm on the last night of filing
More than 63.47 lakh returns had been submitted till 10 pm on Sunday (July 31), the last date for submission of Income Tax Return (ITR) for the financial year 2021-22. The Income Tax Department had set July 31 as the last deadline for submission of ITR. The department has been continuously requesting the taxpayers to submit the returns within the stipulated time to avoid penalty.
Earlier, till July 30, more than 5.10 crore returns had been filed. With the ITR filed on Sunday, the total number of income tax returns for the financial year 2021-22 has crossed 5.73 crore.
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