Don’t Miss Last Opportunity To File Income Tax Return For FY 2021-22

The Income Tax Department‘s deadline for filing income tax returns for the financial year 2021-22 was December 31, 2021. However, if you have not yet submitted your income tax return, there is still time. You have time till 31st March 2022 to file it.

ITR will need to be filled out with penalties

Let us inform you that if you have not filed your income tax return by December 31, 2021, you have been allowed time by the Income Tax Department to file it until March 31, 2022, but you must pay a penalty. This penalty, according to the guidelines, will have to be paid up to Rs.5000. You would have to pay a Rs.1000 penalty if your income is less than Rs.5 lakh. If taxes are filed after March 31, the amount will rise even more. A penalty of Rs.10,000 will be imposed if you file your income tax return for the assessment year 2021-22 after March 31, 2022.