Income Tax Returns: Missed filing your income tax by July 31? Know what happen now
Updated: 01 Aug 2022, 11:55 AM IST
TL;DR.Many taxpayers missed filing their ITRs by July 31 this year. Taxpayers can file their belated returns by December 31 this year, though the same is now accompanied with penalty and interest, and possible jailtime if not adhered to as per the IT guidelines stipulated.
Late filing of ITRs can cause you to incur penalty and interest as per the IT Act