What is the penalty for missing ITR filing deadline?

Previously, an individual was allowed time till the end of the financial year, i.e., March 31 to file belated ITR by paying a maximum penalty of up to Rs 10,000. Here's why the penalty this year is half that of FY 2019-20 (AY 2020-21) if the ITR is filed after the expiry of the current deadline.

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