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Tuesday, 22 December 2020

Alert / Don't do ITR file within 9 days, you have to pay a fine of 10 thousand! Don't get the benefit of many types of tax exemptions.

Alert / Don't do ITR file within 9 days, you have to pay a fine of 10 thousand! Don't get the benefit of many types of tax exemptions.





The central government has often extended the deadline for filing income tax returns (ITRs), taking into account the convenience of taxpayers amid the crisis. Now the last date to file ITR (FY 2019-20) is 31st December. However, if you do not complete the work by December 31, you will have to pay a late fee.


The late fee will be up to 10 thousand rupees. However, people with an income of less than Rs 5 lakh have to pay a late fee of Rs 1,000. In fact, taxpayers are fined for not paying taxes on time.

 

How to file an income tax return (ITR)

Taxpayers are required to file an ITR. Don't worry if you haven't filed an income tax return yet. You still have time. It can be filled in three ways, offline, online and software. Any taxpayer can file his ITR at home. Some documents have to be prepared for it.


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