How much penalty will be paid if income tax return is filed after due date?
If I file IT return after due date but before 31 March, how much penalty to be paid?
Penalty/late filing fee if IT return is filed late
Return is filed on or before 31st December of Assessment Year - Rs. 5,000
Filed in other cases - Rs. 10,000
If taxable income is below Rs. 5 lakhs then penalty is restricted to Rs. 1000 only.
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