File ITR FY 2020-2021 after 01.01.2022

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Sr. Accountant
242 Points Posted on 04 January 2022

Dear All,

I have a query, if a person has not filed ITR by 31.12.2021, if his taxable income is less than 5 lacs and there is no tax liability. Can he file ITR return without any penalty?

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On 04 January 2022 at 18:23 Report
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Quick Summary
This discussion addresses filing Income Tax Returns (ITR) for the financial year 2020-2021 after the usual deadline of December 31st, 2021. It clarifies that individuals with taxable income under £5 lakh and no tax liability can file without penalty, referencing Section 234. However, if income exceeds £2.5 lakh, a penalty of £1000 may apply for late filing.

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Company Secretary
7085 Points Posted on 04 January 2022
Itr can be filed now with a penalty of Rs 1000/-
2 Reply
On 04 January 2022 at 18:44
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Profession Business
28246 Points Posted on 04 January 2022
Pls give the details of Sec.
Sec 234 deals with it.
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On 04 January 2022 at 21:20
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CA
10436 Points Posted on 04 January 2022
If your income is less than 250000 only then you can file your ITR now without any penalty
2 Reply
On 04 January 2022 at 22:07
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Profession Business
28246 Points Posted on 05 January 2022
Irrelevant
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On 05 January 2022 at 08:21

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