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ITR Filing Deadline: Here's how much fine you will have to pay for missing tax return due date
February, 23rd 2021

The deadline to file income tax returns (ITR) was extended by the Central Board of Direct Taxes (CBDT) from December 31, 2020, to January 10, 2020, owning to the ongoing coronavirus pandemic.

The central government, however, has now refused to entertain pleas to extend the deadlines further. For all those who have failed to file ITR, the central government will impose a minimum penalty of Rs 1,000.

How much fine will I have to pay if I miss the ITR filing deadline?

Late ITR filing attracts a penalty under Section 234F. Here it is noteworthy to mention that the penalty of filing late ITR will be decided on the earning of the individual and also on the window in which the returns have been filed.

As per the rules laid by the central government, if you have filed a return from July 31 to December 31, then you will have to pay a fine of Rs 5,000. However, those filing ITR after December 31 to March 31 will be fined Rs 10,000.

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Here we would like to mention that those with an annual income below Rs 5 lakh will have to pay a minimum penalty of Rs 1,000 as per the government rules for filing returns for December 31 to March 31.

However, there no fine will be imposed on late filing fees if "the gross total income does not exceed the basic exemption limit" as per the rules under Section 234F.

How can I file returns despite missing the deadline?

Step 1) Visit the official Income Tax e-Filing website at incometaxindiaefiling.gov.in and login through your PAN.


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Step 2) Now you would need to click the 'e-File' menu. For there, you would need to click on the link that reads "income tax return".

Step 3) Now select the assessment year, ITR form number, filing type and submission mode as prepare.

Step 4) Now select the suitable verification option in the 'taxes paid and verification' tab.

Step 5) Check all the details and submit your ITR.

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