These people will be able to file Income Tax Return till October 31 of your work , they will not have to pay penalty, know the details

These people will be able to file Income Tax Return till October 31 of your work , they will not have to pay penalty, know the details

People whose income is taxable in the country have to file income tax return once a year. Filing of ITR becomes very important for them.

• Last date for filing  income tax is 31 July
• These people can file  ITR till 31st October
• Know how not to pay the fine 

All year people have to file income tax returns. Time is given to people by the government for this process and people are also told a fixed date so that people file the income tax return by that date. However, some people are unable to file their income tax return even by the due date. After which they have to pay penalty on filing income tax . This penalty is charged as Income Tax Return (ITR) late fee.

Penalty has to be  paid The last date for filing Income Tax

Return (ITR) for the economic year 2021-22 was Sunday 31 July 2022. This meant that taxpayers whose accounts were not required to be audited were not required to file income tax returns by this date. Individual taxpayers who have not filed ITR by July 31 will have to pay a penalty of Rs 5000 if their income is taxable.

31 October These People Can File 

Salaried individuals are required to file their income tax return by 31 July, while corporates or those who need to get their accounts audited can file their return by 31 October of the assessment year. In such a situation these people will not have to pay any penalty for filing ITR returns by 31st October.

The last 

Date for filing the returns was July 31 for individual taxpayers to submit Income Tax Return (ITR) for the financial year 2021-22. More than 63.47 lakh returns were deposited till 10 pm on the last day i.e. Sunday. The Income Tax Department had fixed July 31 as the last date for submission of ITR .