The Income Tax Department issued a reminder for taxpayer to verify their filed Income Tax Return to avoid late fees.
Reetu | Aug 29, 2023 |
ITR Filers required to verify ITR within 30 days to avoid Late Fees
The Income Tax Department issued a reminder for taxpayer to verify their filed Income Tax Return to avoid late fees.
If ITR is not verified within the due time, it will stand invalid. Once ITR is invalidated, it would be deemed that you are filing new ITR and that would be with the levy of Late Fees.
Late Fees for Filing ITR:
For belated ITR filing, you will have to pay a late fee of up to Rs 5000. For taxpayers having an annual income less than Rs 5 lakh, the late fee is Rs 1000.
What if you don’t file your ITR before the due date: Issues other than Late Fees
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