How your ITR may be invalid – Didn’t file your ITR? Here’s what you can expect next | The Economic Times

Clipped from: https://economictimes.indiatimes.com/wealth/tax/didnt-file-your-itr-heres-what-you-can-expect-next/how-your-itr-may-be-invalid/slideshow/88900388.cms

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​Consequences of not filing ITR

Whereas missing the ITR filing deadline can fetch you a penalty, not verifying it after filing can deem your income tax return invalid. In either case, the trouble will be yours. You can file a belated return but there are certain points you need to understand before you avail this last chance. Following the amendments in the Finance Act, 2017, filing a belated return can cost you dearly. If you missed filing your ITR for FY20-21, here are the developments you can expect now.Getty Images