Missing ITR filing deadline can cost you much more than just late filing fee

Cost of missing ITR filing deadline: Missing income tax return filing deadline of July 31 not only leads to payment of penalty of up to Rs 5,000. There are other benefits as well that an individual loses if the income tax return is filed after the expiry of deadline (i.e. belated ITR).

from Tax-Wealth-Economic Times https://ift.tt/P7likxY