ITR Registration

Disadvantages:


If you neglect to pay your income tax in time, you are liable to pay 1% interest every month till the time you file the return. Also, if you sustain a loss in business and don’t file an ITR, you will not be able to carry it forward and adjust it with your future income.

The Income Tax Department may also impose a penalty of Rs 10,000 if you don’t file your ITR in time. If the payable tax is more than Rs 3,000, you may also face imprisonment. FAQs:

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