Not Filed Your Income Tax Returns ? Why You should file it before 31st December !!
File your IT returns for A.Y. 19-20 before 31st Dec belated if you missed due date and your income is above 5 Lakh.
The late filing fees is as under :
IT return for A.Y. 19-20:
(1) If filed after due date but before 31st Dec, then:
(a) Income below 5lakh late fees of rs. 1,000/-
(b) Income above 5lakhs late fees of Rs. 5,000/-
(2) If filed between 1st Jan 2020 to 31st March 2020 then:
(a) Income below 5lakh late fees of rs. 1,000/-
(b) Income above 5lakhs late fees of Rs. 10,000/-.
The Late fees is same at Rs. 1000 if the income is not exceeding Rs. 5 Lakh.
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