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How to pay the penalty before filing a belated income tax return (ITR)

Missed the ITR deadline of July 31, 2023 and have a net taxable income above Rs 5 lakh for FY 2022-23 (AY 2023-24)? Pay Rs 5,000 as penalty and file a belated ITR under section 139 (4) of the Income Tax Act, 1961. Read below how to pay up the penalty while filing a belated ITR. ....

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How to file belated ITR online for FY 2022-23 (AY 2023-24)?

If an individual has missed the deadline of July 31, 2023 to file their income tax return (ITR) for FY 2022-23, then he/she may still file a belated ITR by paying a penal fee. However if an individual s income is below the basic exemption limit then there is no penal fee for filing belated ITR. ....

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