Delaying ITR filing? Know penalties taxpayers will have to pay for missing the deadline
Zee News
The new deadline for filing FY21 ITR is now 31 December 2021.
New Delhi: Every taxpayer in India is required to file income tax returns (ITS) for every financial year, failing which could bring attract unwanted penalties to their doorstep. For filing the ITR for the financial year 2021, the government, however, has extended the deadline not just one, but twice.
The new deadline for filing FY21 ITR is now 31 December 2021, which was extended recently from the previous deadline of 31 September 2021. With ample time in hand, taxpayers shouldn’t face any difficulties in paying ITR on time. Of course, barring glitches in the ITR filing portal.
However, even if a taxpayer missed the deadline for filing ITR, then he or she should be ready to pay several penalties. For starters, taxpayers will have to pay a Rs 5000 fine as a late fee for filing ITR anytime later than December 31, 2021.
