The due date for filing ITR for FY 20221-22 was July 31, which has already lapsed. The common perception is that there would be a penalty for filing any ITR now?
Under Section 80G of Income Tax, you get the benefit of tax exemption on different expenses. Small businessmen or taxpayers claiming exemptions under this section are getting more notice.
E-verification of an ITR is necessary to complete the return filing process. There is a provision of a Rs 5000 penalty for those who fail to complete the process.