Income Tax Return Filing: Late filing fees Rs 5000! File ITR by THIS date- Here is how
The due date for filing Income Tax Returns has been extended to September 30, 2021. However, if you fail to file the returns then you may have to pay late filing fees of Rs 5,000.
The central Government has extended the due date for filing Income Tax Returns. However, if you still fail to file the returns then you may have to pay late filing fees of Rs 5,000.
As per the information provided by the Ministry of Finance, the due date for filing ITR by taxpayers has been extended to September 30, 2021. However, if a person who is required to furnish a return of income under section 139 fails to do so within time prescribed then they will have to pay interest on tax due, according to Income Tax Department.
See Zee Business Live TV Streaming Below:
Further, as per section 234F, late filing fees of Rs 5,000 shall be payable if return furnished after due date specified under section 139(1). However amount of late filing fees to be paid shall be Rs 1,000, if the total income of the person does not exceed Rs 5 lakhs.
It can be noted that late filing fee under section 234F will not be leviable in case you are not required to file ITR as per section 139 but filing it voluntary though after the due date.
How to file the return of income electronically?
1. Go to the official website https://www.incometax.gov.in for e-filing the return of income.
2. Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click 'Login'.
3. Click on the 'e-File' menu and click 'Income Tax Return' link.
4. On Income Tax Return Page: PAN will be auto-populated. Select 'Assessment Year', Select 'ITR Form Number', Select 'Filing Type' as 'Original/Revised Return, 'Select 'Submission Mode' as 'Prepare and Submit Online'
5. Click on Continue.
6. Read the instructions carefully and fill all the applicable and mandatory fields of the online ITR form.
7. Choose the appropriate Verification option in the 'Taxes Paid and Verification' tab.
8. Click on 'Preview and Submit' button, Verify all the data entered in the ITR.
9. 'Submit' the ITR.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
04:16 PM IST