ITR Filing New Rules: With the beginning of August, the knock of changes in many rules related to the economy has also been heard. From the beginning of this month, many rules are being changed from banking to ITR. It is in your interest to know about all these.
The last date for submission of Income Tax Return (ITR) is 31st July, but you can still file ITR till 31st December. However, for this you will have to pay a late fee. According to the Income Tax Department, those with taxable income up to Rs 5 lakh will have to pay a late fee of Rs 1,000 for filing ITR and Rs 5,000 for those above Rs 5 lakh.