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From Paying Fine to Problems in Getting Loans, Issues You May Face on Not Filing Your ITR Timely
Every person must pay Income Tax on the earnings. Whether income is from salary or from your business, everyone is liable to pay tax. The last date to file income tax is 31 July. Failure to non-filing of ITR by the due date can lead to problems. In this video we have shared a detailed report stating the problems that one faces by not paying the income tax return on time.
Income Tax Return: The last date for filing Income Tax Return (ITR) is approaching. By filing the return, you come under the category of people paying income tax. The last date or deadline for filing ITR has been fixed by the Income Tax Department as 31 July 2022. Till this date, the taxpayer can file his return for the financial year 2021-22 or assessment year 2022-23. While, if you do not fill the Income Tax Return, a notice will come from the Income Tax Department. After this, you will have to pay tax, as well as pay a fine. Apart from paying income tax fine after 31 July you might have to face more problems like getting loans. In this video we have shared a detailed report stating the problems that one faces by not paying the income tax return on time.