File delayed ITR for evaluation 12 months 2021-22
On March 24, 2022, the Earnings Tax Division tweeted that you simply missed the due date for submitting your ITR? You possibly can file delayed ITR for AY 2021-22 inside the prolonged due date of March 31, 2022.” The deadline for submitting delayed ITR is March 31, 2022, and failing to take action will entice a late penalty of Rs 1000 5000 or as per part 234F of the Earnings Tax Act of 1961.
The deadline for submission of Earnings Tax Return (ITR) for Evaluation Yr (AY) 2021-21 was December 31, 2021. Nonetheless, you’ll be able to nonetheless file late returns until March 31, 2022. In response to the Earnings Tax (IT) division, an assessee who fails to file earnings tax return by the deadline can file a belated return. The deadline for submission of Earnings Tax Return (ITR) for Evaluation Yr (AY) 2021-21 was December 31, 2021.
Nonetheless, you’ll be able to nonetheless file late returns until March 31, 2022. In response to the Earnings Tax (IT) Division, an assessee who fails to file earnings tax return by the deadline can file a belated return earlier than the deadline. Belated return will be filed earlier than the tip of Evaluation Yr (AY) 2020-21. In consequence, delayed ITRs can occur until March 31 of the evaluation 12 months.
ITR needs to be filed for AY 2021-22 on or earlier than thirty first March 2022
The Earnings Tax Division as we speak via a tweet stated that “Non-filing of ITR might lead to greater TDS subsequent 12 months. Final date to file ITR for AY 2021-22 is March 31, 2022.” If a taxpayer fails to file ITR for the monetary 12 months 2021-22, the TDS fee relevant to him could also be elevated. Along with greater TDS, as per part 234F of the Earnings Tax Act 1961, failure to file ITR may end up in a superb of Rs 1000 or Rs 5000 or a late price. On June 21, 2021, the Earnings Tax Division issued a round explaining that if an individual submits ITR for FY 2020-21, his identify will likely be deleted from the listing and better TDS/TCS. Consequently, after submitting your ITR for FY 2020-21, be sure it’s legitimate to verify that you’ve filed the proper ITR.
Test your AIS or 26AS and file your ITR for AY 2021-22
Annual Info Assertion (AIS) is a complete abstract of taxpayer particulars proven in Kind 26AS. AIS contains new info similar to curiosity, dividend, securities transactions, mutual fund transactions, overseas remittances and many others. Consequently, taxpayers making ready to file ITR for the monetary 12 months 2021-22 ought to double-check or validate their AIS.
For the reason that deadline for submitting ITR for evaluation 12 months 2021-22 is March 31, 2022, one shouldn’t confirm their AIS. Log in to the Earnings Tax e-filing portal at www.incometax.gov.in and navigate to ‘Companies’ > ‘Annual Info Assertion’ to entry your Annual Info Assertion. Earnings Tax Division on 22 March 2022 has stated “Pricey Taxpayers, Please verify your AIS or 26AS and file your ITR for AY 2021-22. Final date to file ITR for AY 2021-22 is thirty first March, 2022 “
Hyperlink your Aadhar and PAN
The Earnings Tax Division has stated via a tweet that “Hyperlink your PAN and Aadhaar to allow fast and straightforward e-Verification of ITR. The due date for linking your Aadhaar and PAN is March 31, 2022.” Conduct is crucial operate for all individuals together with taxpayers. If an individual fails to hyperlink his PAN with Aadhaar quantity by March 31, 2022, his PAN will turn into inoperative and that individual will likely be fined Rs 1000 underneath part 234H of the Earnings Tax Act.
Linking PAN with Aadhaar is a compulsory exercise for submitting ITR for the 12 months 2021-22, and failure to take action is not going to solely lead to penalty, but additionally debar you from submitting ITR, and deduct TDS/TCS Might be Greater fee in case PAN just isn’t current. A penalty of Rs 10,000 can also be imposed underneath part 234F of the IT Act for failure to file earnings tax return.
You possibly can hyperlink your PAN with Aadhaar by visiting the Earnings Tax Portal. The SMS operate may also be used to hyperlink your PAN together with your Aadhaar. People have to ship an SMS to 567678 or 56161 within the format UIDPAN (12-digit Aadhaar quantity) (10-digit PAN) from their Aadhaar-registered cellular quantity. As per Part 139AA of the Earnings Tax Act of 1961, everybody who’s eligible for Aadhaar and who has PAN, should hyperlink each the paperwork by March 31, 2022.