Do not ignore this message of the government, otherwise you will have to pay a fine of up to Rs 10,000 - Newztezz - Latest News Today, Breaking News, Top News Headlines, Latest Sports News


Friday, January 8, 2021

Do not ignore this message of the government, otherwise you will have to pay a fine of up to Rs 10,000

The Income Tax Department has tripled the date for filing income tax returns in view of the Corona epidemic. 
This was first done on November 30, then on December 31 and now this date has been extended to January 10. There are now only 4 days left to file the 
return by the extended date The income tax department is constantly alerting through messages and social media so that no penalty return can be filed on time.

Constant messages are being sent to the register number attached to the page number of the people of the income tax department. With this message, the Income Tax Department warns the people that if you do not file your return on time, you will have to pay heavy fines.

January 10 is the deadline

If you miss the January 10 deadline, you may have to pay twice the fine as compared to the previous year. During the Corona virus epidemic, the Central Board of Direct Taxes has extended the ITR filing date for fiscal year 2019-20 to January 10. The Income-tax department is alerting people to file their returns before January 10. 

There is a provision of 10 thousand fines

Last year, for not filing income tax return on time, only Rs. There was a 5000 penalty. But this year the taxpayer will face a fine of Rs 10,000. However, this penalty or late filing fee will be applicable only when the total income of the taxpayer is more than Rs 5 lakh in the last 5 years.

The deadline for this is February 28th

In addition, the date for filing Central GST returns has also been extended. The last date for filing annual returns under GST Act 2017 has been extended from 31st December to 28th February 2021. Also, the date of audited returns for industrialists has been extended to February 15.

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