How to pay the penalty before filing a belated income tax return (ITR)

Missed the ITR deadline of July 31, 2023 and have a net taxable income above Rs 5 lakh for FY 2022-23 (AY 2023-24)? Pay Rs 5,000 as penalty and file a belated ITR under section 139 (4) of the Income Tax Act, 1961. Read below how to pay up the penalty while filing a belated ITR.

from Tax-Wealth-Economic Times https://ift.tt/0NlanQT