This rule applies to all taxpayers, and the penalty must be paid even if you are filing for a non-taxable amount. However, if your total income is below Rs 5 lakh, you have to pay Rs 1,000. The penalty is Rs 5,000 under Section 234F of the Income Tax Act for not filing your income tax return by the due date.
Beyond the last date of March 31, taxpayers are given a three-month window under the income tax law to file belated ITR.īut delays in filing ITR beyond the last date is not advisable because that leads to a penalty and demand for interest payment from the I-T department. The initial deadline was July 31, 2021, but because of the pandemic, the government extended the date and revised it to December 31, 2021, and then to February 15, 2022, and March 15, 2022.
The taxpayers shall have to download the pre-filled data from the income tax e-filing portal and import the same on the new utility, which enables users to edit and save returns, pre-filled data and profile data,” says Neha Malhotra, Director, Nangia Andersen India.The due date for filing your income tax returns for the financial year 2020-21 is March 31, 2022. A step-by-step guide for using the said utility has been issued, giving instructions as to its installation and application. “Notably, the offline utility, based on new technology JSON (JavaScript Object Notation), has been enabled only for ITR 1 and ITR 4, other ITRs will be added in the subsequent releases.
In place of the Excel and Java version of ITR utilities, the CBDT has introduced JSON utility and released a step-by-step guide for using the new utility. From AY 2021-22, the income tax department has discontinued the Excel and Java version of ITR utilities. Taxpayers are required to file their income tax return (ITR) of the financial year 2020-21 by July 31, 2021, unless the government goes for an extension of the last date of ITR filing. The tax filing season for the assessment year 2021-22 has begun with the start of the new financial year from April 1.
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