What to Do If You Have Missed Income Tax Return Filing Deadline?

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    Missed Income Tax Return Filing Deadline
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    The last date for income tax return was 5th August,2017. But if you have missed income tax return filing deadline. Then don’t worry as you can still fill ITR now. But all just you have to pay penalties and interest on your unpaid taxes. The Government of India had already delayed the last date of filing income tax return from 31st July to 5th of August.

    But still several new tax payers have missed income tax return filing deadline. Reason could be anything due to which they have missed ITR filing deadline. But don’t worry even if you have missed the last extended deadline then don’t worry as you still have the opportunity of filling the return. Let me remind you that filling tax after deadline might have some serious consequences like you will have to pay penalties and interest on the unpaid taxes.

    Also Read>>> 27 Best Ways to Save Income Tax in India FY (2016 – 2017)

    Furthermore you still have the time to file the income tax return by the end of the assessment year. It means you still have the time till 31st March 2018 to file your returns. You will even have to pay interest on the unpaid taxes or to pay penalties and interest on the taxes which you have not paid. Under the section 271F, the assessing officer can levy the penalty of Rs, 5000 for belated returns.

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