Today is the last day to file ITR for the financial year 2021-22. Know, how much penalty will have to be paid if you do not file ITR today:
If you have not yet filed your Income Tax Return (ITR) for the financial year 2021-22, then leave all the work and file ITR first. Today is the last day (July 31) to file ITR. If you miss to file ITR, then you will not only have to loose your pocket but will also not be able to take advantage of many facilities. Along with this, many problems may also have to be faced.
A penalty of up to Rs 5000 will have to be paid for filing ITR after July 31: If the annual income is less than Rs 5 lakh, then a penalty of up to Rs 1000 If the annual income is more than Rs 5 lakh, then a penalty of up to Rs 5000 will have to be paid on the interest If tax liability arises, then interest will have to be paid at the rate of 1% every month.
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