Actual cost of missing July 31 ITR filing deadline is much more than penalty

If an individual misses the last date of filing ITR i.e., July 31, then it is a known fact that a belated ITR can be filed albeit by paying a late filing fee for maximum up to Rs 5,000. However, there are certain other costs that an individual should know if they file a belated ITR.

from Tax-Wealth-Economic Times https://ift.tt/7XBPWhQ