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ITR Filling : Big Alert! 31st December is the last date to file income tax return, hurry up, otherwise…

ITR Filling : Big Alert! 31st December is the last date to file income tax return, hurry up, otherwise…

New Delhi. The last date for filing Income Tax Return i.e. ITR (Income Tax Returns) for the assessment year 2021-22 is 31 December 2021. At the same time, the Finance Ministry said on Sunday that more than three crore ITRs have been filed so far for the financial year 2020-21.

Ministry appealed to file return

The ministry has also asked taxpayers who have not filed ITR yet to file their return at the earliest. An official statement said that the number of income tax returns to be filed daily has crossed 4 lakhs and is accelerating further as the date of December 31 approaches.

After December 31, you may have to pay a fine of Rs 5,000

Filing the return after the date given by the government can attract a fine of Rs 5,000. It is mentioned in section 234F of Income Tax. However, if the income of the taxpayer is within Rs 5 lakh, then the rule is to pay Rs 1,000 as late fine. The amount of fine will increase on earning more than 5 lakhs.

How to File ITR

If you want to file your tax return by visiting the e-filing portal, then you can take the help of these steps-

  • First go to the e-filing portal incometax.gov.in and click on the Login button.
  • Now you have to enter your username and click on Continue button.
  • Now you have to enter your password.
  • Now click on e-file tab and click on File Income Tax Return option.
  • Select the assessment year 2021-22 and then click on continue option.
  • You will then be asked to select the option ‘Online’ or ‘Offline’.
  • Select the Online option and click on the Continue tab.
  • Now select the option ‘Personal’.
  • Individual, Hindu Undivided Family (HUF) or others.
  • Click on Continue.
  • Select either ITR-1 or ITR-4 and click on Continue tab.
  • The reason for the return will be asked under the 7th provision under section 139(1) or above the exemption limit.
  • Select the correct option while filing ITR online.
  • Enter your bank account details.
  • Now a new page will be sent to file ITR.
  • Verify your ITR and send a hard copy of the return to the Income Tax Department.

Source:-businessleague

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