What happens if you miss the ITR filing deadline of July 31, 2023
If you miss the deadline the belated ITR can be filed up to December 31, 2023. The late filing fee of Rs 5,000 or Rs 1,000 as applicable will be levied on filing the belated ITR and it may also attract interest on the tax amount.
For individuals with an income of less than Rs 5 lakh, the penalty will be Rs 1,000.
If you miss filling the deadline, you can do it under belated return. Whenever an individual file ITR after the due date it is known as belated return. If you happen to miss the the deadline you can do the belated ITR by 31st December 2023.
The late filing fee of Rs 5,000 or Rs 1,000 as applicable will be levied on filing the belated ITR and it may also attract interest on the tax amount.
