ITR Filing: One mistake in ITR and penalty up to 200%, know these 5 strict rules of Income Tax Department
ITR Filing Late Fee and Penalty: According to the Income Tax Department, more than 3 crore ITRs have been filed for the assessment year 2026-27 till July 22, 2026. As the deadline approaches, the pace of filing has increased. While filing ITR, not following the rules of Income Tax Department properly, giving wrong information or missing the deadline can cost you dearly. ITR Filing AY 2026-27 Late Fee and Penalty: If you are going to file your Income Tax Return (ITR) for the financial year 2025-26, then merely filing the return does not end your responsibility. Not following the rules of the Income Tax Department properly, giving wrong information or missing the deadline can cost you dearly. For simple mistakes, huge fines ranging from late fees to tax evasion or giving wrong information can be imposed up to 200%. The last date for filing ITR for unaudited individuals and salaried class is July 31, 2026. Let us understand about those 5 strict rules and penalties, which are very i...