Only 65 per cent taxpayers of the state have filed income tax returns so far. Whereas now you have only five days left to submit income tax returns. However, the time is up to 15 February for audited taxpayers. Tax experts say that taxpayers should submit their income tax returns as soon as possible. Otherwise they can incur up to 10 thousand rupees as late fee. For those whose income is less than Rs 5 lakh, there is a late fee of Rs 1000.
Tax experts say that taxpayers should file their tax in earnest. The slightest negligence or misinformation done by them will prove harmful for them. It is noteworthy that 1065714 taxpayers have filed income tax returns in the state in the financial year 2018-19 and assessment year 2019-20. While so far, about six and a half lakh taxpayers have submitted their income tax returns in the financial year 2019-20 and assessment year 2020-21. There is still an income tax return of more than three and a half lakhs.
The government has extended the date of submission of income tax returns four times due to Corona’s hit. Earlier this date was extended from 31 July 2020 to 30 September 2020 and thereafter to 31 December 2020. Now the last date has been changed to 10 January 2021. However, for audited taxpayers, the date is 15 February. After this, if the taxpayers delayed, they would have to pay late fees.