Income Tax Return: If you still haven't filed the income tax return for the fiscal year 2019-20, then hurry as there is just a day left for you to file your ITR. In the wake of the COVID-19 pandemic, the government had extended the due date of filing all Income Tax Return (ITR) for FY 2019-20 to December 31. Late filing or filing your returns after the due date attracts a penalty under section 234F. Last year, the penalty of late return filing within a few months of missing the deadline was only Rs 5,000. The Income Tax Department has issued advertisements guiding taxpayers over their ITR filing on multiple occasions.

Source: dna December 30, 2020 06:00 UTC