Failure to file an ITR by March 31 could result in a jail sentence, find out the penalty

The last day for individual taxpayers to file ITR was December 31, 2021. Due to the Covid-19 epidemic, the deadline for filing returns was set for February 15 and then March 31. If you miss the December 31 deadline you may receive a show cause notice for undeclared income. The deadline to file a Late Income Tax Return (ITR) for 2020-21 (Assessment Year 2021-22) is March 31.

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