₹5000 fine for delayed ITR filing despite zero tax: Legal consequences?
Hi everyone,
I’ve filed ITR in the past, but this time I didn’t file before July 31st because my income was below the tax exemption limit. When I tried filing now, it’s showing a late filing fee of ₹5000, even though no tax is payable.
I have a few questions:
1. Do I legally need to file an ITR if my income is below the exemption limit?
2. What are the legal consequences of not filing ITR in this case?
3. Will skipping this filing affect me in any way in the future (e.g., while filing ITR in subsequent years)?
I’m not asking about the impact on loans, visas, or credit cards—just the legal aspects.
Thanks in advance for your insights!
Hi everyone,
I’ve filed ITR in the past, but this time I didn’t file before July 31st because my income was below the tax exemption limit. When I tried filing now, it’s showing a late filing fee of ₹5000, even though no tax is payable.
I have a few questions:
1. Do I legally need to file an ITR if my income is below the exemption limit?
2. What are the legal consequences of not filing ITR in this case?
3. Will skipping this filing affect me in any way in the future (e.g., while filing ITR in subsequent years)?
I’m not asking about the impact on loans, visas, or credit cards—just the legal aspects.
Thanks in advance for your insights!