ITR filing season: How much fine you will have to pay if fails to file ITR by 31 July; know here

There are only a few days left to file your income tax return (ITR) as the last date to file the ITR is July 31. If you file your ITR after this date, you will need to pay a penalty.

Meanwhile, many taxpayers are finding difficulty in filing their ITR through e-portal. Therefore, it is better to complete your ITR process in advance to avoid last-minute hassle.

How much fine do you need to pay after crossing the ITR filing deadline?

If your salary is under Rs five lakh per annum then you will have to pay Rs 1,000 as late fee charges. However, if your annual income is over Rs five lakh, then you will have to pay Rs 5,000 as a fine.

New tax regime vs. old tax regime

While filing your ITR, you should keep in mind that there are two tax regimes. One is old and the other is new. You should choose your income tax regime as per your salary.

24x7 help from I-T department

The Income Tax Department's helpdesk is working 24x7 to assist the taxpayers. This helps in providing services ranging from filing of ITR to tax payment. The help desk provides assistance through calls, live chat, Webex sessions, and social media.

How to file ITR online: A step-by-step guideline

Step 1: Visit the Income Tax e-Filing portal - https://www.incometax.gov.in/iec/foportal/
Step 2: Log in to the e-Filing portal by entering your user ID (PAN), Password, Captcha code and click 'Login'.  
Step 3: Click on the 'e-File' menu and click the 'Income Tax Return' link.  
 Step 4: Click on 'Continue'  
 Step 5: Fill in all the applicable and mandatory fields of the Online ITR Form.  
 Step 6: Choose the appropriate Verification option in the 'Taxes Paid and Verification' tab.  
 Step 5: I would like to E-Verify  
 Step 6: I would like to E-Verify later within 120 days from the date of filing.  
Step 7: I don't want to E-Verify and would like to send a signed ITR-V through normal or speed post to "Centralized Processing Center, Income Tax Department, Bengaluru - 560 500" within 120 days from the date of filing.  
 Step 7: Click on the 'Preview and Submit' button, Verify all the data entered in the ITR.  
 Step 8: 'Submit' the ITR.  
 Step 9: On Choosing 'I would like to E-Verify' option, e-Verification can be done through any of the following methods by entering the EVC/OTP when asked for.  
 Step 10: The EVC/OTP should be entered within 60 seconds else, the Income Tax Return (ITR) will be auto-submitted. The submitted ITR should be verified later by using 'My Account > E-Verify Return' option or by sending a signed ITR-V to CPC.  

Should income tax return of a deceased person be filed or not?

Yes, legal heirs of a deceased person are also required to repay any tax liabilities. Read more

How to file ITR for a deceased person

To file a return on behalf of the deceased, first register as a legal heir on the Income Tax India filing website, then input the deceased's name, PAN, and date of death.

Further, they are required to upload the scanned copy of the following documents in a zip file:

• A copy of the PAN card of the deceased.
• A copy of the death certificate.
• A copy of legal heir proof as per the norms.
• The Income Tax Department will review the request, and once accepted, the legal heir(s) will be able to carry out all e-filing-related activities on behalf of the dead.