Wednesday, July 27, 2022

What are the disadvantages of filing belated ITR?

The last date for filing ITR for FY 2021-22 (AY 2022-23) is July 31, 2022. If an individual misses this deadline to file ITR, there is a monetary and non-monetary cost. An individual filing belated ITR is required to pay a late filing fee for a maximum up to Rs 5000. Apart from this, there are certain disadvantages to filing belated ITR.

from Tax-Wealth-Economic Times https://ift.tt/tJ7Y0e1

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