ITR filing deadline 2026: 5 income tax penalties every taxpayer must know for AY 2026-27
New Delhi, July 24 -- Have you filed your income tax return and successfully e-verified it? If not, do you know that delaying your filing past 31 July can result in several penalties and tax compliance-related complications?
Any delays, omissions, errors, incorrect disclosures or non-compliance can result in additional financial liabilities, including fees, interest or penalties.
Income tax authorities have shared different consequences for various defaults or irregularities in tax filing.
Some of the consequences pertain to fixed charges, whereas others are linked to the amount of taxes involved.
Note: The consequences discussed above are for instructional purposes only. For proper case-to-case ramifications, consult a certified tax ...
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