Sunday, March 31, 2024

If you missed filing updated ITR by March 31, can you go to jail?

ITR-U: The deadline to file updated income tax return (ITR-U) for FY 2020-21 (AY 2021-22) was March 31, 2024. However there is no need to worry since an individual cannot be jailed just for not filing ITR-U. But the income tax department can seek imprisonment for those individuals who have escaped paying income tax i.e. tax evaders.

from Tax-Wealth-Economic Times https://ift.tt/p2IdVR1

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