ITR Filing FY 2021-22: if you miss deadline here know last date and penalty charges

ITR Filing FY 2021-22: The date for filing income tax return for jobseekers and non-auditable accounts is approaching. In such a situation, you should file ITR in time. Otherwise, you will have to pay a penalty for late filing of ITR.

Income Tax Return filing last date For taxpayers whose accounts are not audited, the last date for filing ITR for FY 2021-2022 is July 31.

You will get the benefit of filing on time If you file ITR on time, you get many benefits. You get many more benefits such as quick approval of loan from bank, quickest tax refund, quick approval for government tenders. (income tax return filing benefits) The most important thing is that you are a part of the growth of the country. That’s why you should file your income tax return before the deadline ends.

ITR filing deadline penalty

According to the rules, if you file ITR after the deadline, you will have to pay a penalty of Rs 5,000. (ITR filing late fees) Penalty is imposed due to late filing of ITR. If the total income of the taxpayer does not exceed 5 thousand, then he will have to pay a fine of Rs 1,000.

How to File ITR

The most important thing is that taxpayers filing Income Tax Return (ITR) without digital signature i.e. without e-verification through electronic mode have to verify it within 120 days of ITR uploading. There are 4 ways for this.

File return on the form

  • Sign digitally electronically
  • Filling of data in the return electronically under the Electronic Verification Code
  • By electronically transmitting the data in the return and then submitting the verification of the return in the return form ITR-V
  • In case taxpayer files return without digital signature, he/she has to submit 2 copies of his ITR-V form