ITR Filling Big Update: Do not wait for the extension of the date, fill the ITR, otherwise be ready to pay a fine of up to Rs 5,000

ITR Filling Big Update: If you filed income tax return after the due date i.e. after July 31, 2022 and before December 31, 2022, then a penalty of Rs 5,000 will have to be paid. There is no plan to extend the last date for filing ITR.

If you filed income tax return after the due date i.e. after 31st July, 2022 and before 31st December, 2022 then a penalty of Rs 5,000 will be payable but if the annual taxable income of the taxpayer is less than Rs 5 lakh then a penalty of Rs 1,000 have to give. So stop waiting for the date to extend. Because, it is being told time and again by the top officials of the central government through various forums that there is no plan at present to extend the last date for filing tax returns.

It is to be noted that the last date for filing ITR is 31st July and that day is Sunday. Banks are closed on Sundays. Normally now income tax return is filed online, so there is no need to go to the bank, but still you may be bound to face penalty due to problem in bank network maintenance or net banking on Sunday.

Anyway, this time there are a lot of complaints about the tax portal of the Income Tax Department. Actually the taxpayer has to use the challan to pay the tax. If for any reason there is a problem in online payment, then there is a need to visit the bank branch for payment. Apart from this, TDS certificate is also available from the bank itself.