By the way, the last date for filing income tax return or ITR for the assessment year 2021-22 was December 31, 2021. The Income Tax Department is providing the facility to file returns by March 31, 2022 with some penalty and late fee. If the return is not filed even by this due date, then the government can prosecute you.
Taxpayers who fail to file returns by December 31 can complete ITR by paying penalty as per their tax slab. If the ITR is not filed by March 31 even after being liable to tax, then there can be a minimum of 3 years and maximum 7 years in jail. From such taxpayers, the Income Tax Department can also impose a penalty of 50 to 200% on the liability in addition to the outstanding tax and interest. If the government wants, it can also prosecute the taxpayer.
If more than 10 thousand dues can be difficult
As per the Income Tax rules, the government does not prosecute every taxpayer who fails to file ITR. The tax department initiates litigation proceedings only in those cases when the tax liability exceeds Rs 10,000. If the taxable income is more than Rs 5 lakh, then the taxpayer may have to pay a fine of up to Rs 5 thousand. However, if the taxable income is less than Rs 5 lakh, the penalty amount will be Rs 1,000.