Mumbai: The last date for filing Income Tax Return (ITR / ITR) has expired on 31 August. There are still many people who have not filed ITR even on the deadline of 31 August. However, you still have the opportunity to file ITR. According to the income tax department website, you can file income tax returns with a fine.
Although the amount of fine will be between 1 thousand rupees to 10 thousand rupees. With the fine amount, you can file ITR till 31 March 2020. The penalty for filing ITR after the time period was announced in the budget 2017. Earlier, in the event of the deadline for filing ITR, the Assessing Officer had full authority to impose a penalty.
Let us tell you that if the gross total income of an individual does not cross the tax exemption limit, then he /she will not have to pay late fine even after filing ITR after August 31, 2019, and till March 31, 2020. However, if you have not yet filed ITR, go to the Income Tax Department website https://incometaxindiaefiling.gov.in. After login here, you will get the details of the amount of your penalty.