Income tax returns filing: Not filing your ITR? You will have to pay this massive penalty
This assessment year on (AY19), the Income Tax department has hiked the penalty for not filing income tax returns within the deadline of July 31, which can go as high as Rs 10,000 - the deadline has been extended by a month now, though.
Besides the monetary penalty, there are certain other repercussions of non-filing ITR. Image source: Reuters