In Briefs

Filing of Income-Tax Return

December 30, 2022

With the insertion of new Section 234F under Income-Tax Act, 1961, it is levied a fee for delay in filing the Income-Tax return for the Assessment year 2022-23 (FY 2021-22). Any person who is earning Salary, Pension or any other income including business who have not filed their Income-Tax return for the FY 2021-22 shall file by paying a fee of Rs.5,000 on or before 31.12.2022.

However, the fee payable is restricted to Rs.1,000 for small tax payers whose total income is less than Rs.5 lakh, which is arrived after allowing all deductions. Those who have not filed their Income Tax Return for the FY 2021-22, shall file on or before 31.12.2022.

For detailed information, reference may be made to provisions of Income Tax Act, 1961, the Income-Tax Rules, 1962, relevant circulars and/or notifications, says N.D. Shreenivaas of Bhavani Associates.

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Mysuru’s favorite and largest circulated English evening daily has kept the citizens of Mysuru informed and entertained since 1978. Over the past 45 years, Star of Mysore has been the newspaper that Mysureans reach for every evening to know about the happenings in Mysuru city. The newspaper has feature rich articles and dedicated pages targeted at readers across the demographic spectrum of Mysuru city. With a readership of over 2,50,000 Star of Mysore has been the best connection between it’s readers and their leaders; between advertisers and customers; between Mysuru and Mysureans.

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