ITR Latest News: If you also pay tax, then there is important news for you. There are only a few days left for the year 2022 to end and in such a situation, you have to do many important things.
Let us tell you that the last date for filing income tax return (Last Date for ITR) is also 31 December. Apart from this, the department has also kept the last date for filing Revised Income Tax Return as December 31, which means you have to do this work before December 31. Actually, in the new year you cannot take advantage of Revised ITR (ITR Benefits).
Know the rules of paying tax
According to the income tax rule, if you have not filed Income Tax Return till the last date, then you can file belated ITR ie Belated ITR. This year, the last date for filing income tax was July 31, 2022 and if someone has not been able to file the return till this date, then now they will have to file belated ITR, whose last date is December 31.
Fill Revised ITR by 31st December
If you have also forgotten to pay tax or if there has been a mistake in filing the return, then you must fill it by December 31. Actually, you can file Revised ITR to rectify your mistakes. Overall, the last date for filing both ITRs is December 31, 2022.
What does the rule say?
Now let us know what is the rule of paying income tax. According to the information given by the Income Tax Department, delayed ITR can be filed under Section 139(4) of the Income Tax Act 1961. The procedure for filing belated ITR is also the same. But even if you are filing belated ITR, then keep in mind that from choosing the form in the return, you will have to give detailed information about the penalty amount, interest rate and outstanding tax. 5000 will have to be given in the form of Rs.
