ITR filing FY 2021-22: Know last date and penalty if you miss DEADLINE

ITR filing AY 22-23: The due date for Income Tax Return (ITR) filing for salaried taxpayers and non-auditable accounts is just around the corner. Therefore, it is advised to file your ITRs on time otherwise you will have to pay a hefty fine or penalty for filing ITRs after the deadline.

Income Tax Return filing last date: The ITR filing deadline for FY 2021-2022 is July 31 for taxpayers whose accounts don't need to be audited.

When you file ITR on time, in return you get a number of benefits like fast loan approval from banks, early tax refund, early approval of government tenders, and more. And the most important is that you become a part of the nation's growth story. Hence, it is always a wise decision to file an Income Tax Return well before the deadline.

ITR filing late fees: As per the rule, individuals filing their ITR after the deadline will have to pay Rs 5,000 as a penalty. The penalty is charged in the form of a late fee. The fine, in case the total income of an assessed person does not exceed Rs 5 lakh, is Rs 1,000.

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