What happens if you miss tax return filing deadline today?
The last date to file Income Tax Returns for the Assessment Year 2018-19 expires today. Depending on the delay, filing after due date could invite a penalty of up to â¹10,000 while it is fixed at â¹1,000 if an individual's income is under â¹5 lakh. Belated returns will attract a simple interest of 1% per month on the outstanding due.