Indian tax laws allow a minimum of 3 years of imprisonment that could extend to 7 years. There is also the possibility that the IT department could launch legal action against you. It is important for individuals to file their IT returns on time because a missed payment could hamper your chances of getting a visa for travel and even mess with your loan applications. Missing this deadline will incur penalties. Usually, for individuals, the due date for filing income tax returns, manually or ITR online, is the end of July (31st) every year. ![]() It is compulsory to file your taxes if you an individual whose annual income falls within the taxable limit. Whether you do it manually or you take the e-filing income tax return does not matter. As a law-abiding citizen of India, it is mandatory to file income tax returns if your income is in the taxable bracket.
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