New Delhi | Jagran Business Desk: The government of India did not extend the due date to file Income Tax Returns (ITR) for 2020-21 fiscal (ended March 2021). Nearly 5.9 Crore Income Tax Returns (ITR) were filed by December 31, 2021 deadline the Central Board of Direct Taxes (CBDT) said in a statement.

"Nearly 5.89 crore Income Tax Returns (ITRs) have been filed on the new e-filing portal of the Income Tax Department as on 31st December, 2021, the extended due date," the Central Board of Direct Taxes (CBDT) said in a statement.

In comparison, as on January 10, 2021, (the extended due date for ITRs for AY 2020-21), the total number of ITRs filed was 5.95 crore. As many as 31.05 lakh ITRs filed were on the last day or January 10, 2021.

Can I file the ITR after due date?

Here it is important to understand the difference between ITR due date and ITR last date. Taxpayers who have missed the due date will still be able to file their ITR. An ITR filed after the due date is called a 'Belated Return'. While the due date was December 31, 2021, the last date is still March 31, 2022.

But filing ITR past the due date comes with certain penalties.

The penalty

A late penalty will be levied if you file a belated tax return after the deadline.

The late fee penalty for filing the ITR after the due date is up to Rs.5,000. The taxpayers whose total taxable income does not exceed Rs.5 lakh will have to pay a maximum penalty of Rs.1,000 if the ITR is filed after the due date but before the last date of March 31, 2022.

But if your income is below the taxable limit then you won't be required to pay any penalty.

Posted By: Mukul Sharma