Missed the March 31 deadline to file income tax return? Here’s what you can do – Economic Times

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  • By Taxmann
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  • Last Updated on 26 October, 2020
Economic Times “Naveen Wadhwa, DGM, Taxmann.com says “If TDS has been deducted from your income and you have not filed your ITR, then department can issue you a notice under 142 (1) (i) for non-filing of returns. A penalty may also be levied by the assessing officer of Rs 5,000 for non-filing of income tax returns.” 
 
Every taxpayer is required to file ITR if his/her total income exceeds the basic exemption limit. The department can issue you a notice under section 148 for income escaping the assessment for non-filing of ITR.”
 

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