That is the final date to file your Revenue Tax Return for AY 2021-22

The final date to file your revenue tax return is March 31. do not miss the deadline

The present monetary yr 2021-22 is ending on 31 March 2022. In case you are a taxpayer then thirty first March is essential for you.

It serves as a reminder to the taxpayers that their Revenue Tax Return, or ITR is due and that is the final date for submitting ITR.

Initially the deadline was set for July 31, 2021, however it was prolonged because of COVID-19. It was first prolonged until December 31, 2021, then February 15, 2022 and eventually until March 15, 2022.

It isn’t advisable to overlook the deadline for submitting ITR because the Revenue Tax Division can impose penalty and demand fee of curiosity.

In case you are a salaried taxpayer who has not but submitted your ITR for the monetary yr 2020-21, you’ll undoubtedly be topic to a penalty of Rs 5,000 underneath Part 234F of the Revenue Tax Act. In case your whole revenue is lower than Rs 5 lakh, then it’s a must to pay Rs 1,000. The rule applies to all taxpayers, and even if you’re submitting for a non-taxable quantity, you’ll have to pay the penalty.

As well as, it’s possible you’ll be fined as much as 50 % of the tax payable. In excessive instances, you possibly can withstand three years in jail. Failure to file ITR earlier than the deadline could lead to you paying extra TDS, TCS than April 1, 2022, if the entire TDS, TCS in FY 2020-21 was Rs 50,000 or extra.

Mere submitting of ITR shouldn’t be sufficient. Earlier than thirty first March, additionally, you will must e-verify it. As soon as the ITR is reviewed, the Revenue Tax Division will contemplate it legitimate. The Central Board of Direct Taxes (CBDT) has given a one-time extension to taxpayers to e-verify ITR, which is not going to be potential after the deadline.

In response to the Revenue Tax web site, “With out verification throughout the stipulated time, an ITR is handled as invalid.”

Learn how to e-verify your ITR:

Log in to the Revenue Tax Portal.

Go to the e-Confirm Return web page.

Enter your PAN, Evaluation Yr, Acknowledgment Quantity and Cellular Quantity.

In response to, these are the other ways in which you’ll be able to e-verify your return on-line:

Through the use of OTP on cellular quantity registered with Aadhaar.

EVC generated by way of your pre-validated checking account.

EVC generated by way of your pre-validated demat account.

EVC (offline technique) by way of ATM.

Web Banking.

Digital Signature Certificates (DSC).

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